Tier 1 general Extension - Without dividend

Hi Everyone,

Recently I begin to prepare the document for my tier 1 general extension, however, I have some different opinions with my accountant.

Here's my situation:
I am employeed by another company and also have my own Ltd company, I plan to claim my income from both, regarding to Ltd company, I am sole shareholder.

My accountant think its enough to give business accounts, his letter and business bank statement to prove ltd part according to policy guide Page 23:
================================================
Self-employed earnings within a business or company structure:
If an applicant has worked in a self- employed capacity in his/her own business or company structure and has chosen to keep his/her earnings within the business or company, he/she could provide:
• business or company accounts that meet statutory requirements and show the
net profit made for the earnings period claimed; and
• personal/business bank statement
================================================

However, when I did research online, I found out most of the people apply in dividend way other than keeping profit in company.

Is there anyone who has more experience on it?

Other questions:
btw, if I have to take my dividend, will it be a problem if I take them just in time before I apply, the number is relatively large and look like it's for visa application only.

Regards,

X

dividends r paid after profit earned so income is accrued 100% and there will be no question in visa getting


on gross profit approch some time Ho CASE WORKER even tribunal not helpful if proper working s r not kept. so some risk lies in gross earning method

so always follwo dividend menthod

dividends r paid after profit earned so income is accrued 100% and there will be no question in visa getting


on gross profit approch some time Ho CASE WORKER even tribunal not helpful if proper working s r not kept. so some risk lies in gross earning method

so always follwo dividend menthod with business a/cs

Sushil-ACCA wrote:dividends r paid after profit earned so income is accrued 100% and there will be no question in visa getting


on gross profit approch some time Ho CASE WORKER even tribunal not helpful if proper working s r not kept. so some risk lies in gross earning method

so always follwo dividend menthod with business a/cs

Thanks Sushil,

Could you give me a link or [no more no less] list for "Dividend method with business a/cs"?

Regards,

X.

Do you have to be the sole shareholder to show your dividends as earnings?

NO need to be sole shareholder but u must be working full time to run day to day business of company

Thank You
Just wanted to confirm before I make my wife a share holder in the ltd company

Hi,

I don't think it's a good idea to take the dividends all at once , that too just in the last 3 or 4 months before your approch for a visa.

If you are a sole owner of a limited company , would you wait for so long to withdraw profit??