tier 1 extension - earnings - will be short by 5k GBP

[vain]

I have a tier 1 general visa valid till November 1, 2012.
I am in London, and my job pays me 60k GBP annually. I score only 95 points with this income. I will run short by 5k to score the minimum 100 points required for the extension.

What are my options?
One thing I can think of is - should I get some freelance work for 10k GBP and bundle that with my income? What proofs will I need to submit to the home office?

All help appreciated!

[ScopeD]

98. An applicant’s overall total earnings
can include those from several sources of
work, including a combination of salaried
employment and self-employed activities.
Tier 1 (General) Policy Guidance version 04/2011 Page 18 of 33

99. Earnings do not need to have been
with a single employer.

Source: UKBA's Policy Guidance Document http://www.ukba.homeoffice.gov.uk/sitec ... idance.pdf

In the same document there is a sub-heading entitled Documents required. Reading it should help you.

[vain]

Thanks ScopeD.
From some information I have come across, apparently, to show freelance income, I need to register with some bodies well in advance. What these bodies are, I do not recall clearly, maybe VAT/some thing like that?

98. An applicant’s overall total earnings
can include those from several sources of
work, including a combination of salaried
employment and self-employed activities.
Tier 1 (General) Policy Guidance version 04/2011 Page 18 of 33

99. Earnings do not need to have been
with a single employer.

Source: UKBA's Policy Guidance Document http://www.ukba.homeoffice.gov.uk/sitec ... idance.pdf

In the same document there is a sub-heading entitled Documents required. Reading it should help you.

[AccountantMatthew]

If you intend to undertake business as a sole trader then you will need to register with HMRC as being self employed. You will usually be notified to complete a self assessment tax return and will be required to make Class 2 National Insurance payments separately (although exemptions may be granted).

More details can be found on the HMRC and BusinessLink websites.

VAT registration with HMRC is not compulsory unless taxable supplies for the previous 12 months is more than £73,000, or you expect it to go over that figure in the next 30 days alone (current rates)

[rajani1981]

If you intend to undertake business as a sole trader then you will need to register with HMRC as being self employed. You will usually be notified to complete a self assessment tax return and will be required to make Class 2 National Insurance payments separately (although exemptions may be granted).

More details can be found on the HMRC and BusinessLink websites.

VAT registration with HMRC is not compulsory unless taxable supplies for the previous 12 months is more than £73,000, or you expect it to go over that figure in the next 30 days alone (current rates)

Matthew
I have registered as self-employed in Sep'11 and I got self-assessment notification. I have set up Direct Debit for Class 2 NI. Is that sufficient for now?

[AccountantMatthew]

Yes from what you say rajani1981 all appears fine.

Although you've already completed what you need to for anyone else viewing the thread who is in a similar situation here is what you need to do with HMRC:

http://www.hmrc.gov.uk/selfemployed/reg ... elfemp.htm

[feedback556]

I have a tier 1 general visa valid till November 1, 2012.
I am in London, and my job pays me 60k GBP annually. I score only 95 points with this income. I will run short by 5k to score the minimum 100 points required for the extension.

What are my options?
One thing I can think of is - should I get some freelance work for 10k GBP and bundle that with my income? What proofs will I need to submit to the home office?

All help appreciated!

Hi, im in same situation as you are in...can you please share that what is the alternative you have thought of?

[vain]

I took up a side project to make up for the shortfall in the salary. So my shortfall is now met.

I have a tier 1 general visa valid till November 1, 2012.
I am in London, and my job pays me 60k GBP annually. I score only 95 points with this income. I will run short by 5k to score the minimum 100 points required for the extension.

What are my options?
One thing I can think of is - should I get some freelance work for 10k GBP and bundle that with my income? What proofs will I need to submit to the home office?

All help appreciated!

Hi, im in same situation as you are in...can you please share that what is the alternative you have thought of?