ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

Tier 1G extension - director of limited company

Only for UK Tier 1 (General) points system

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

Moderators: Casa, JAJ, ca.funke, Amber, Zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, geriatrix, John, ChetanOjha, archigabe, push, Administrator

Locked
canon123
Member of Standing
Posts: 275
Joined: Sun Oct 25, 2009 9:51 am

Tier 1G extension - director of limited company

Post by canon123 » Wed May 09, 2012 8:56 am

While calculating the earning points for tier1, do we need to consider gross dividends or net dividends

bestprint
Newly Registered
Posts: 23
Joined: Tue Oct 12, 2010 2:50 pm
Mood:
Pakistan

Re: Gross Dividends or Net Dividends??

Post by bestprint » Wed May 09, 2012 9:21 am

gross dividend

ambal
Newly Registered
Posts: 10
Joined: Fri Feb 19, 2010 10:13 pm

Post by ambal » Sun May 13, 2012 6:58 am

It may depend on CW, I had my application processed last week and could see from approval letter that CW had considered [b]Net Dividend only[/b] for earnings ( although have seen many opinions that Gross Dividend is considered )...

So my suggestion would be to consider only net dividend for earnings calculation if thats possible, to play very safe.

Sushil-ACCA
Diamond Member
Posts: 1234
Joined: Wed Apr 02, 2008 1:47 pm
Location: Wembley Park

Post by Sushil-ACCA » Sun May 13, 2012 11:07 am

ambal wrote:It may depend on CW, I had my application processed last week and could see from approval letter that CW had considered Net Dividend only for earnings ( although have seen many opinions that Gross Dividend is considered )...

So my suggestion would be to consider only net dividend for earnings calculation if thats possible, to play very safe.
there is now way play safe from untrained ho worker

Gross dividend is final answer

canon123
Member of Standing
Posts: 275
Joined: Sun Oct 25, 2009 9:51 am

Post by canon123 » Mon May 14, 2012 10:24 am

thanks

geriatrix
Moderator
Posts: 24754
Joined: Fri Mar 17, 2006 3:30 pm
Location: does it matter?

Post by geriatrix » Mon May 21, 2012 4:11 pm

canon123 wrote:I am contractor working through my LTD Company as a director and 100% share holer. I only take salary and does not take any dividends. Do I need to still register myself as self employed??
Life isn't fair, but you can be!

AccountantMatthew
Member of Standing
Posts: 301
Joined: Mon Jul 04, 2011 4:20 pm
Location: London Town

Post by AccountantMatthew » Mon May 21, 2012 4:35 pm

No. That's for sole traders (and partners) only. Even though in your situation you are self employed in the eyes of the UKBA, you aren't as far as HMRC (or pretty much everybody else) is concerned.
Please don't private message me or e-mail me for free personal advice - you are just wasting your time writing something that won't get answered.
Anything written here shouldn't be construed as being formal advice given in a professional capacity.

canon123
Member of Standing
Posts: 275
Joined: Sun Oct 25, 2009 9:51 am

Post by canon123 » Tue May 22, 2012 8:14 am

Hi AccountantMatthew,

Thanks for your reply. My question is do i need to register as self employed? I got ltd company since Sept2010. if i call the HMRC what should i say my start date of self employment is?

AccountantMatthew
Member of Standing
Posts: 301
Joined: Mon Jul 04, 2011 4:20 pm
Location: London Town

Post by AccountantMatthew » Tue May 22, 2012 11:09 am

If you are the director/owner of a company then in the eyes of HMRC you aren't self employed.
Please don't private message me or e-mail me for free personal advice - you are just wasting your time writing something that won't get answered.
Anything written here shouldn't be construed as being formal advice given in a professional capacity.

canon123
Member of Standing
Posts: 275
Joined: Sun Oct 25, 2009 9:51 am

Post by canon123 » Tue May 22, 2012 11:28 am

thanks, but the Part 6A rules mention that i need to register as self employed right?? if so how to do that??

AccountantMatthew
Member of Standing
Posts: 301
Joined: Mon Jul 04, 2011 4:20 pm
Location: London Town

Post by AccountantMatthew » Tue May 22, 2012 11:48 am

No that won't apply to you.

In your situation you are self employed as far as the UKBA is concerned but not as far as HMRC is concerned. Therefore you won't register with HMRC as you would if you are a sole trader. By all means call them if you want a second opinion but you will be told the same thing!

It does mean that there is a perceived gap in what UKBA want and what you can provide but you are in a far from unique situation. For letting UKBA know this (if indeed whether it's worth bothering or if it is so self explanatory even the most inexperienced CW understands!) it's best to throw this open to others who have applied so they can share their experience.
Please don't private message me or e-mail me for free personal advice - you are just wasting your time writing something that won't get answered.
Anything written here shouldn't be construed as being formal advice given in a professional capacity.

Locked
cron