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Tier 1 extension : self employment help

Archived UK Tier 1 (General) points system forum. This route no longer exists.

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gprabhu
Newly Registered
Posts: 16
Joined: Wed Feb 22, 2012 12:03 pm
Location: Glasgow

Tier 1 extension : self employment help

Post by gprabhu » Thu Mar 15, 2012 4:49 pm

Hi Friends,

I would like to earn little more earnings to qualify total earnings for tier 1 general extension.

Is it must to have a business account for self employment (sole trader) or is it OK to use a personal savings bank account dedicated for self employment(sloe trader) income?
Does Home Office accept personal savings bank account for self employment(sole trader) details?

I somehow failed the credit check when I went to open a business bank account.

Please kindly help.
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shahjee11
Member
Posts: 172
Joined: Fri Sep 30, 2011 12:52 am
Location: UK

Re: Tier 1 extension : self employment help

Post by shahjee11 » Thu Mar 15, 2012 7:19 pm

gprabhu wrote:Hi Friends,

I would like to earn little more earnings to qualify total earnings for tier 1 general extension.

Is it must to have a business account for self employment (sole trader) or is it OK to use a personal savings bank account dedicated for self employment(sloe trader) income? Its not a must. You can use your personal account as well.

Does Home Office accept personal savings bank account for self employment(sole trader) details? Yes

I somehow failed the credit check when I went to open a business bank account.

Please kindly help.
Answers are based on experience and also the guidance does not mention that a business account is must.
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rpsarangi
Member of Standing
Posts: 445
Joined: Tue Sep 14, 2010 2:05 am
Location: U.K

Post by rpsarangi » Fri Mar 16, 2012 12:09 am

For sole trader you dont need a business account. You can operate with the personal current account . but business banking is a good practice. but its ok if you want to operate with your personal account as long as you are operating as a sole trader.
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gprabhu
Newly Registered
Posts: 16
Joined: Wed Feb 22, 2012 12:03 pm
Location: Glasgow

Post by gprabhu » Mon Mar 19, 2012 4:14 pm

rpsarangi wrote:For sole trader you dont need a business account. You can operate with the personal current account . but business banking is a good practice. but its ok if you want to operate with your personal account as long as you are operating as a sole trader.
Thanks guys for your valuable comments
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jasjeets
Newly Registered
Posts: 2
Joined: Sat Jul 21, 2012 10:07 pm

Urgent query

Post by jasjeets » Mon Sep 10, 2012 9:03 pm

I am working as a sole trader.Just want to know can i take payments from client as cash or cheque?
can i take the payment from current account?
or i need to take the payment from business account only ?
Please reply as i am npt sure how HO accept the payment method from client.


Thanks in advance
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