Hi there,
I'm a IT Contractor working through my own limited company (I'm a Director of that company responsible for day to day business)
My visa is due in March 2012 (that is 13 months from now). I've been contracting through my company for a year now, drawing less salary and partly taking Dividends on need basis (say 1000 pounds a month).
I've been keeping most of the earning in my Business Account and I'm planning to take most of the amount in the Last Dividend (that is at the end of the financial year , April 2011)
I want to concentrate on some other business this year and so I might not work during this time (few months between April 2011 till March 2012)
Now my question is,
Suppose I need GBP 35k+ earning to qualify for extention.
I take GBP 20k as dividend in April 2011 (last Dividend for the financial year 2010-2011).
and for the remaining period April 2011 till Feb 2012 - I earn say 16K (as I will not be working for few months)
The total is 36k.
Will I be eligible for extension?
I mean technically my previous 12 months earning (prior to March 2012) will be 36k + which make me eligible for getting the extension. ( however the actual earnings -20k were earned during the year 2010-2011, through contracting on monthly basis, Coz Invoices for this 20k earnings are between March 2010 till April 2011)
Is this allowed? Because my business plans depends on this? I can take few months off from work if this is allowed.
For documentation sake, I can show Dividend vouchers, Payments made to my personal a/c, Invoices (2010-2011) ,Profit/Loss summery by accountant also I can show the tax return papers.
My Only concern is, will they consider these earnings as earnings made 15 months prior to the application and reject my extension application?
Regards,
Gem
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