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Limited Company Setup

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mrashid10249
Junior Member
Posts: 58
Joined: Fri May 06, 2011 2:57 am
Mood:
United Kingdom

Limited Company Setup

Post by mrashid10249 » Thu Sep 01, 2011 11:45 am

hi there. i have read some valuable posts on the forum.
i would need some info if anyone could reply plz? i am on Tier 1 G Visa. i am working on contract basis at a chemical plant. recently i setup my own limited company. as a director, i receive salary and dividends from the company. i have registered my company for VAT as well.
my question is, whether i ll be considered as self employed or employee of my company? if i am self employed, do i need to pay class 2 National insurance contributions? i have set my wages very low while remaining i get as dividends, so not paying NI, could it effect on my visa extension application?

fora
Member
Posts: 118
Joined: Wed Jun 22, 2011 2:15 pm

Post by fora » Thu Sep 01, 2011 12:39 pm

i think Limited company is nor self employed.
If u registered yourself as a "sole trader" - in this case u r self employed

mrashid10249
Junior Member
Posts: 58
Joined: Fri May 06, 2011 2:57 am
Mood:
United Kingdom

Post by mrashid10249 » Thu Sep 01, 2011 12:44 pm

Dear Fora

thank you for reply. i have registered myself as online VAT submission, but i didn't as sole trader. could you plz advise what document i would need from my accountant for my Tier 1 extension application plz as an employee of my own company?

AccountantMatthew
Member of Standing
Posts: 301
Joined: Mon Jul 04, 2011 5:20 pm
Location: London Town

Post by AccountantMatthew » Thu Sep 01, 2011 1:17 pm

I've just replied to the PM you sent on the same subject mrashid10249.

You'll need to find your salary slips and dividend tax certificates for your accountant as well as providing bank statements.
Please don't private message me or e-mail me for free personal advice - you are just wasting your time writing something that won't get answered.
Anything written here shouldn't be construed as being formal advice given in a professional capacity.

AccountantMatthew
Member of Standing
Posts: 301
Joined: Mon Jul 04, 2011 5:20 pm
Location: London Town

Post by AccountantMatthew » Thu Sep 01, 2011 1:22 pm

... and here's the link for everything PAYE related (from HMRC website):-

http://www.hmrc.gov.uk/paye/index.htm
Please don't private message me or e-mail me for free personal advice - you are just wasting your time writing something that won't get answered.
Anything written here shouldn't be construed as being formal advice given in a professional capacity.

mrashid10249
Junior Member
Posts: 58
Joined: Fri May 06, 2011 2:57 am
Mood:
United Kingdom

Post by mrashid10249 » Thu Sep 01, 2011 1:41 pm

thank you very much guys

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