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by AccountantMatthew
Fri Jan 20, 2012 8:38 am
Forum: UK Tier 1 (General) Visas
Topic: Tier1 Extension- Salary Shortfall
Replies: 16
Views: 3464

Reading what is in here will answer your question:

http://www.ukba.homeoffice.gov.uk/sitec ... idance.pdf

It's easy to follow so you can jump straight to the section you want.
by AccountantMatthew
Thu Jan 19, 2012 8:07 am
Forum: Employment offers and job seekers
Topic: Resignation dilemma
Replies: 3
Views: 2154

I'm not associated with the site below in any way but I have heard from some contractors that their guides section can be useful. You may find something here: http://www.contractorcalculator.co.uk/Contracting.aspx In lieu of not being lucky with what you want to hear on this board, there are also a ...
by AccountantMatthew
Thu Jan 19, 2012 7:36 am
Forum: UK Tier 1 (General) Visas
Topic: Employment Status of Limited Company Directors
Replies: 1
Views: 379

Under Part 6A of these Rules, "Self-Employed" means an applicant is registered as self-employed with HM Revenue & Customs, or is employed by a company of which the applicant is a controlling shareholder. Source: http://www.ukba.homeoffice.gov.uk/policyandlaw/immigrationlaw/immigration...
by AccountantMatthew
Thu Jan 19, 2012 7:26 am
Forum: UK Tier 1 (General) Visas
Topic: Tier1 Extension- Salary Shortfall
Replies: 16
Views: 3464

You'll start by getting set up with HMRC: http://www.hmrc.gov.uk/selfemployed/register-selfemp.htm For general info on getting started in business then BusinessLink (a govt. site) is a user friendly site: http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073858805&furlname=startingup&am...
by AccountantMatthew
Fri Jan 13, 2012 12:34 pm
Forum: UK Tier 1 (General) Visas
Topic: Limited Company: Year-end accounts/ management accounts
Replies: 1
Views: 476

We, as an example, do management accounts covering the earnings period - this enables the caseworker to match earnings claimed to a set of accounts that cover the earnings period. I'm not exactly sure how caseworkers work (or think) so I wouldn't like to say that they would not consider accounts tha...
by AccountantMatthew
Fri Jan 13, 2012 11:44 am
Forum: UK Tier 1 (General) Visas
Topic: plz advise
Replies: 1
Views: 363

You can base your previous earnings on both your salary and through company profits.

However whether you do actually make a £3,400 monthly profit on a £200 per day job is another matter; do remember that there are likely to be other expenses incurred in the course of your business.
by AccountantMatthew
Thu Jan 12, 2012 2:29 pm
Forum: UK Tier 1 (General) Visas
Topic: Limited company director- Tier 1 Extension
Replies: 13
Views: 2568

Believe it or not zuby there can be advantages in registering for VAT voluntarily. Of course there can be disadvantages too but it really is down to the individual, their business and their aims. The current threshold (2011-12) is £73,000. A Google (other search engines are available) search is a go...
by AccountantMatthew
Thu Jan 12, 2012 1:44 pm
Forum: UK Tier 1 (General) Visas
Topic: Question on limited company invoices
Replies: 4
Views: 638

It's probably a little bit off topic but here is what your invoices should show if you are registered for VAT.... http://www.hmrc.gov.uk/vat/managing/charging/vat-invoices.htm Even if you aren't then it's worth incorporating as much of it as you can into your invoices. All singing, all dancing logos...
by AccountantMatthew
Wed Jan 11, 2012 2:56 pm
Forum: UK Tier 1 (General) Visas
Topic: Is Ex Gratia Pay Considered for Tier1 extension?
Replies: 3
Views: 875

by AccountantMatthew
Wed Jan 11, 2012 2:50 pm
Forum: UK Tier 1 (General) Visas
Topic: Tier 1 Extension Proof of Earnings
Replies: 8
Views: 1004

It is provided to you by your employer. You are legally entitled to one if you are still working for the employer at the end of a given tax year - so do ask for it if you don't have one.
by AccountantMatthew
Fri Jan 06, 2012 8:12 am
Forum: UK Tier 1 (General) Visas
Topic: Tier 1 General extension - Proof of earnings
Replies: 6
Views: 1594

Without wishing to sound glib Girish it's £40,000! How you wish to plan it is up to you. It depends on if you wish to minimise Corporation Tax or personal taxes at the same time. It depends on what profits the business make which then determines what can be declared as a dividend. You can also claim...
by AccountantMatthew
Fri Jan 06, 2012 8:03 am
Forum: UK Tier 1 (General) Visas
Topic: Gross or Net Divident for ILR application
Replies: 1
Views: 535

Gross
by AccountantMatthew
Thu Jan 05, 2012 3:13 pm
Forum: UK Tier 1 (General) Visas
Topic: Gross Salary should be same each month?
Replies: 6
Views: 1184

It's probably best not to get too far off the point and start straying into employment law and what contstitutes a contract of employment etc. That's probably another question for someone else another time. For your situation in wanting to vary your salary and dividends however you are in a position...
by AccountantMatthew
Thu Jan 05, 2012 11:46 am
Forum: UK Tier 1 (General) Visas
Topic: Tier 1 General extension - Proof of earnings
Replies: 6
Views: 1594

1) Am I self-employed or employed (as a director & employee of a company)? For UKBA purposes you are self employed. (For HMRC and everyone else though you are employed). 2) What sort of evidence do people in my situation usually provide? The guidance seems to say that if I’m employed, I’d need ...
by AccountantMatthew
Thu Jan 05, 2012 11:38 am
Forum: UK Tier 1 (General) Visas
Topic: Gross Salary should be same each month?
Replies: 6
Views: 1184

You are in control of your salary if you are the director of your own company so you can basically pay yourself what you want. Obviously it's different when you employ others as it'll be in their contract of employment but in effect you can keep varying your own contract. Therefore the gross salary ...
by AccountantMatthew
Wed Jan 04, 2012 2:57 pm
Forum: UK Tier 1 (General) Visas
Topic: No tax paid by umbrella company
Replies: 4
Views: 902

Call HMRC on 0845 300 0627 to explain the situation so that they know and can start to take action regarding the unpaid taxes (or pass you on to someone who will). You are legally entitled to a P45 and P60 and your old employer must provide them. HMRC should also be interested in whether your old em...
by AccountantMatthew
Wed Jan 04, 2012 5:58 am
Forum: UK Tier 1 (General) Visas
Topic: Extension Question, pls advice...
Replies: 3
Views: 514

I'll leave Q2 to the visa experts but as far as Q1 goes you as an individual never have been out of work. You remain continuously employed by your company. Just because the company itself hasn't gained any work from October to February doesn't mean you have stopped being employed by them - only when...
by AccountantMatthew
Tue Jan 03, 2012 1:19 pm
Forum: UK Tier 1 (General) Visas
Topic: INCOME REQUIREMENT FOR NEW TIER 1
Replies: 3
Views: 702

For sole traders you can either carry on with your existing private account or open a new one. Legally there is nothing to stop you from carrying on without opening a new account as you and the business are the same person - however as you say it usually better to keep business and private separate ...
by AccountantMatthew
Tue Jan 03, 2012 1:12 pm
Forum: UK Tier 1 (General) Visas
Topic: proof required to claim earning as sole trader tier 1 extens
Replies: 2
Views: 510

by AccountantMatthew
Tue Jan 03, 2012 12:57 pm
Forum: UK Tier 1 (General) Visas
Topic: Previous employer hostile. How to get self-employed quickly
Replies: 11
Views: 1323

Just to second what canon123 says - you will be notified by post. There is no method for tracking how the process is coming along. I'd give it a good couple of weeks before calling given that you applied over a period containing a number of bank holidays. The number to call will be on their website.
by AccountantMatthew
Tue Jan 03, 2012 12:54 pm
Forum: UK Tier 1 (General) Visas
Topic: No tax paid by umbrella company
Replies: 4
Views: 902

You've done all that you can within your control regarding payment of NI and Income Tax. You are/were on the company PAYE system. The fact that they have not paid your taxes onto HMRC is not something within your control. As I don't know the full facts behind this, I don't want to start pointing any...
by AccountantMatthew
Tue Dec 20, 2011 12:13 pm
Forum: Employment offers and job seekers
Topic: subject
Replies: 6
Views: 1894

I'm assuming that your husband is a sole trader here (so not a company director and that the letters don't relate to a company).... With income being earned during the 2010-11 tax year, ordinarily he would be completing a tax return for the 2010-11 year that must be filed with HMRC online by 30th Ja...
by AccountantMatthew
Fri Dec 16, 2011 5:20 pm
Forum: UK Tier 1 (General) Visas
Topic: Tier1 extension; Contracting; Limited company.
Replies: 10
Views: 3491

Nothing stopping you legally from having the registered office at your accountant:

http://www.businesslink.gov.uk/bdotg/ac ... =RESOURCES - just in case if you or others fancy reading up on it.
by AccountantMatthew
Fri Dec 16, 2011 4:57 pm
Forum: UK Tier 1 (General) Visas
Topic: salary credits/ Limited company
Replies: 2
Views: 855

It depends on what the mismatches are heyyou007 - is it possible to elaborate a little (e.g. are the dates different, the amounts, both or something else?) Also with the missing credits, is it just that you don't pay yourself each month (so for example 2 payslips in a 3 month period) or you intend t...
by AccountantMatthew
Fri Dec 16, 2011 8:06 am
Forum: UK Tier 1 (General) Visas
Topic: T1 Extension - Contractor (Ltd company), Zero salary
Replies: 6
Views: 1633

In lieu of anyone else replying with a more personal experience, I've completed letters for people who were 'dividends only' and as far as I'm aware there were never any problems. They are certainly still in the UK(!)

All the best!