Self Employment income?

Hi

I am due my ILR this April, i am preparing for my application.

During my initial application, I had 20,998 in direct employment and 16,950 as Turnover out of which 14, 301 was calculated as Net Profit and Total Taxable Profit as 10, 536 for which he paid taxes.

If I add up my Direct Employment + Taxable Profit it is only coming upto 31, 524 which is what showing on SA302, but if i add up net profit from my self emplyment and direct employment it is 35,289.

i am just bit concerned which one the HMRC considers, i did not want to fudge anything, i dont know if my acccountant filed it properly.

My extension was direct employment and my ILR will be direct employment as well.

Please help!

Any one?

So you mean to say that you showed UKBA as 14,301 as earnings from self-employment but declared 10,536 to HMRC. Which is clearly in violation of the rules as you have fallen below your earnings threshold.

Hi

This is what confuses me, accountant has shown Net Profit as 14, 301 but he took out tax allowances for vehicles and equipment (capital allowances) and then shown as taxable profits on 10,536.

I am not sure what HM takes as your income? Help pls

Thats not right, HO will raise doubts and may push your application or defer it to senior CWs

Question your accountant why this was done?

Hi Argus

So the HO will take Taxable Profit as your earnings? That means according to the filings I am less then the threshold. But if they take Net Profit (turnover-Expenses-payouts) I am above 35K+.

Seems I am confused and I don't know what to do.