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Extension - Limited Company

Only for UK Tier 1 (General) points system

Tier 1 (General) points calculator | more about Tier 1 (General)

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srpdata
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Extension - Limited Company

Post by srpdata » Mon Mar 19, 2012 12:14 pm

Hi ,

I have a limited company and presently i am not generating Invoices for my firm. I just fill the Timesheets for the company with which i have my work agreement and they give the salary based on my timesheets, approved by my manager.
a) Are invoices required for the Tier 1 extension?
b) If yes, Could somebody send me a template for the invoice? and anything else to be done speciifc to Invoices

Regards
srpdata

QuickSam
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Re: Invoice Limited Company

Post by QuickSam » Mon Mar 19, 2012 12:16 pm

srpdata wrote:Hi ,

I have a limited company and presently i am not generating Invoices for my firm. I just fill the Timesheets for the company with which i have my work agreement and they give the salary based on my timesheets, approved by my manager.
a) Are invoices required for the Tier 1 extension?
b) If yes, Could somebody send me a template for the invoice? and anything else to be done speciifc to Invoices

Regards
srpdata
Invoices are not required unless you are showing yourself as 'Self Employed'
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srpdata
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Post by srpdata » Mon Mar 19, 2012 12:20 pm

Thanks QuickSam for the reply, But are there any possibility that the case worker may ask for that? because different case workers view differently the same case.

QuickSam
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Post by QuickSam » Mon Mar 19, 2012 12:24 pm

srpdata wrote:Thanks QuickSam for the reply, But are there any possibility that the case worker may ask for that? because different case workers view differently the same case.
NO
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aliq09
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Post by aliq09 » Wed Mar 21, 2012 3:46 pm

QuickSam wrote:
srpdata wrote:Thanks QuickSam for the reply, But are there any possibility that the case worker may ask for that? because different case workers view differently the same case.
NO

Hi ,

So what will be the best document list , i can represent him in my PEO appointment under limited company ... Are profit and loss accounts are necessary ? Kindly comments
Thanks

Ali

canon123
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Post by canon123 » Wed Mar 21, 2012 4:17 pm

payslips -- if any withdrawn for the period you wanna claim.
business bank statements -- can be the same for period you wanna claim
Personal bank statements -- for the same period you wanna claim
LTD Comp - Ceritficate of Incorp
VAT Regd Cert
PAYE Regd letter from HMRC
NI\PAYE\VAT\Corp Tax payment receipts if any
LTD Comp Financial Statements, Profit Loss, Balance Sheet
Accountant letter -- clearly explaining your earnings claimed for the above period and Dividends withdrawn
Sign the Dividend Vouchers
Invoices -- if generated any to clients

And also follow policy guidance

aliq09
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Post by aliq09 » Wed Mar 21, 2012 4:28 pm

canon123 wrote:payslips -- if any withdrawn for the period you wanna claim.
business bank statements -- can be the same for period you wanna claim
Personal bank statements -- for the same period you wanna claim
LTD Comp - Ceritficate of Incorp
VAT Regd Cert
PAYE Regd letter from HMRC
NI\PAYE\VAT\Corp Tax payment receipts if any
LTD Comp Financial Statements, Profit Loss, Balance Sheet
Accountant letter -- clearly explaining your earnings claimed for the above period and Dividends withdrawn
Sign the Dividend Vouchers
Invoices -- if generated any to clients

And also follow policy guidance
Thanks mate!
Thanks

Ali

srpdata
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Posts: 53
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Tax Document : Limited Company

Post by srpdata » Mon Jun 18, 2012 9:59 am

Hi All,

I am a consultant and working for my limited company and i am applying my Tier 1 extension in August this year .I had gone through the document checklist in many sections in this blog, i have one query about the Tax document . I am showing my earnings from August 2011-July 2012.

1) What document i need to submit to show the tax i had paid apart from my P60 ?
2) Is Tax proof a mandatory requirement?

Regards
Srp

adityaisukapalli
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Post by adityaisukapalli » Mon Jun 18, 2012 12:22 pm

srpdata wrote:Thanks QuickSam for the reply, But are there any possibility that the case worker may ask for that? because different case workers view differently the same case.
Its not 100% sure that the case worker won't ask you Invoices. Better prepare them and keep with you. If they ask you, then submit them. I have few friends been asked to show Invoices. But its only 1% chance..

srpdata
Junior Member
Posts: 53
Joined: Thu Mar 08, 2012 9:04 pm

Tax Document : Limited Company

Post by srpdata » Tue Jun 19, 2012 8:50 am

Hi All,

Can anyone reply to my query about the tax proof requirement


1) Is Tax proof a mandatory requirement?
2) What document i need to submit to show the tax i had paid apart from my P60 ?

Regards
srp

geriatrix
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Post by geriatrix » Tue Jun 19, 2012 9:06 am

Read 114 - 120.
Life isn't fair, but you can be!

srpdata
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Posts: 53
Joined: Thu Mar 08, 2012 9:04 pm

Tax Document : Limited Company

Post by srpdata » Tue Jun 19, 2012 9:34 am

Thanks Sushdmehta, as per the guidelines what i can find out is , Tax document are not necessary but if they are used to show as income proof , what they should contain, hence a tax document doesn't seem to be a necessary document. Please let me know if someone has different views

geriatrix
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Post by geriatrix » Tue Jun 19, 2012 9:36 am

I have the same opinion as you, unless someone wishes to correct.
Life isn't fair, but you can be!

sreblog
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Post by sreblog » Mon Jul 16, 2012 9:10 pm

canon123 wrote:payslips -- if any withdrawn for the period you wanna claim.
business bank statements -- can be the same for period you wanna claim
Personal bank statements -- for the same period you wanna claim
LTD Comp - Ceritficate of Incorp
VAT Regd Cert
PAYE Regd letter from HMRC
NI\PAYE\VAT\Corp Tax payment receipts if any
LTD Comp Financial Statements, Profit Loss, Balance Sheet
Accountant letter -- clearly explaining your earnings claimed for the above period and Dividends withdrawn
Sign the Dividend Vouchers
Invoices -- if generated any to clients

And also follow policy guidance

Hi, my LTD company financial year is not completed yet for this year. Can I submit last year's LTD Comp Financial Statements, Profit Loss, Balance Sheet?

ankitv
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Location: London

Post by ankitv » Tue Jul 17, 2012 12:45 pm

Hi, my LTD company financial year is not completed yet for this year. Can I submit last year's LTD Comp Financial Statements, Profit Loss, Balance Sheet?
The company accounts submitted should corresspond to the period for which earnings are being claimed

pyke
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Post by pyke » Fri Aug 10, 2012 8:27 pm

If they ask you, then submit them. I have few friends been asked to show Invoices.
Are there requirements for the format e.g. particular details that have to be included, signed or stamped? Will a basic bare MSWord document be acceptable?

Tier1extn001
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Post by Tier1extn001 » Thu Sep 13, 2012 10:41 am

hello

I am new to contracting and just confused if to go with being director of ltd company or just enrolling as PAYE thru my agency.I thing going PAYE would be straightforward for my visa renewal.With ltd. there would be lot of complications it appears..can any one please advise the best option. thank you

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