Hello,
I have a question about reporting income. I'm going to be applying to extend my stay here in the UK. I'm currently here under an HSMP visa and will be switching over to the Tier 1.
For the past 16 months I've worked as a contractor for a particular company which, for no good reason, I'm going to call Ajax. First I was an employee of Ajax then last spring I established my own limited company and became its director. Ever since, Ajax has paid my company and I have received salary and dividends from my company.
I'm not completely clear about how to report my income for the past 12 months.
Reporting my income as an employee seems simple. I have official pay slips from Ajax. I'll claim my gross earnings in my Tier 1 application. The net earnings on these pay slips correspond to deposits in my personal bank account. I have official bank statements that I will submit with my application.
I'm not sure about how to report income from my limited company. The forms of evidence I have are:
1. Invoices that my limited company submitted to Ajax. These forms have been officially stamped by Ajax and I think can be viewed as pay sheets because they list the weeks I worked and provide a weekly tally of income. However, I'm not sure I need to provide these documents to the Home Office -- they could be unnecessary.
2. Documents from the accountant that handles the books for my limited company. These documents include a letter that explicitly states how much I earned as the director of my limited company (the funds are broken down into PAYE and dividends). I also have a statement that itemizes the payments my company received from Ajax, breaking down funds into gross and net salary, dividends and the total amount paid to me. The paperwork also includes a dividends voucher that covers the full amount of dividends paid to me, as well as pay slips that cover my PAYE earnings over the 20 pay periods (not sure whether this is relevant but my pay periods are irregular; sometimes they're weekly, sometimes biweekly and sometimes monthly).
3. Bank statements that corroborate all payments.
My question is: Do I need to include item number 1, the invoices? To me, that seems unnecessary because I have a letter and accompanying documents from my limited company's accountant that states my earnings. In turn, I can clearly identify these earnings as deposits in my personal bank account.
Thanks for your assistance.
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