dharma123 wrote:Hi Friends,
I am applying for my tier 1 extension next week.
I am submitting the following documents for earnings?
Can you kindly suggest
1) Ltd company incorporation certificate
2) CA's letter showing Dividend and Salary.
3) Payslips & Dividend Vouchers.
4) Personal Bank Statements.
5) Business Bank Statements.
6) Business Annual Tax Return.
What other documents do I need?
Also my earnings are to be £25000. Is there a reqt of bifurcating salary and dividend in any ratio. I intend to show £6000 as salary and £19000 as dividend. Is there any other reqt . Pls guide.
I'm in the process of putting together my application and am in the same situation (pretty much exactly by the sounds of it)!
I too am intending to submit items 2, 3 and 4 as my proof of earnings.
Items 1 and 5 I was going to include as part of "explaining" the deposits into my personal accounts, as these are just transfers from my business account so wanted to show at least one business statement showing the account number and business account name and then the incorporation cert to confirm the business is a registered LIMITED COMPANY.
Why do you think you need item 6? I assume you're applying as a "salaried employee" with some dividends on the side (so NOT self-employed). In this case the actual earnings of your ltd company don't really matter one bit, its just your personal earnings from payments from your ltd company that matter. Like I said items 1 and 5 just help prove the "transfers" between your personal and business accounts are actually "payments" for salary/dividends.
Also as far as I've read and heard there is no required ratio between salary and dividends. You could have paid yourself £1 per annum salary and took the rest in dividends if you wanted and it should be fine by the UKBA. Though your accountant should have probably told you thats not really tax efficient!
