Regarding Export business for Tier 1 G VISA Holder

Hi,

I am a IT contractor and I have a ltd company with VAT registration through which I am doing my IT contracting. I have got an offer on export business. Am I allowed to do export business with my current Tier 1 General VISA. If Yes, then is my current company enough or should I register a new company for doing that business. Will it affect my ILR if I do this business as my ILR is due soon in few months time.

Many thanks.

Can anyone please shed some light on this.

When you originally register your company, you would have been asked what sort of business is the company going to be involved in? So, you should have ideally provided IT related at that time, I am assuming ?

I would think you have to update companieshouse.gov.uk if the company is going to get involved in export business. ie., the nature of business of the company is changing.

Have you discussed this with your accountant? What is his advise?

Regarding if this will have an impact on your ILR ? Were you planning on using your income from the export business to show as part of your earnings ?

Even if you were, in theory, there should not be a problem, as there is no restriction on the nature of your business on a Tier 1 General category.

that said, there are chances for questioning and more information, given this point under 'Genuine earnings test' in pg18 of the policy guidance,
* Your previous educational and business experience in relation to your claimed
business activity;

Many thanks for the reply, I am not planning to show this as an income for my ILR. I have sufficient income generated till now in my current IT job, so I am planning to quit and explore into different area,

Reg the registering of the company, I have registered as IT Software company as you had mentioned. So, should I be notifying and changing the kind of business.

Should I also need to tell HMRC or UKBA about that?

Thanks in advance.

Have you discussed this with your accountant? What is his advise?

I am assuming you should notify companieshouse.gov.uk, and possibly HMRC as well, not sure though.

If you don't have plans to to show this as income, I would recommend, starting a separate company for this purpose and to keep the accounts separate.