Hi, I am applying for ILR this year. I have a question about the meaning of NET profit.
Previous Earning
I plant to provide evidence for mixture of salaried employment and Limited Company business activity.
I am the sole director of my Limited Company and I retain 100% of the company's profit. I would like to ask the meaning of NET profit for my Limited Company business activity.
My question is
a) is NET profit means Gross Profit(before tax)-expenses
OR
b) Gross Profit-expenses-Corporate Tax
Which is correct?
I am not giving myself a salary, I just take all the earning to myself.
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