self employed ...bank statement proof

[immigrationseeker]

Hi

A self employed person who is applying for Tier-1 G extension and furnishing bank statement as proof of payements/income from different companies ......is this necessary that bank statement must show the name of companies those depositing amount through cheque in the self employed person's bank account with whom self employed person is doing business ?

Regards

[mulderpf]

No, as long as the amounts are traceable it's fine.

[immigrationseeker]

Thanks

[scorpio_besal]

No, as long as the amounts are traceable it's fine.

may i ask what do we mean by amount being traced..? you mean that the case workers would want to double check(3rd party verification) could be done to confirm if the transaction or the amount or earning in question is legitimate. ?

[mulderpf]

If you are claiming 100 + 120 + 150 that these amounts show up on your bank statement. So the invoices he supplies must match with his bank statement (e.g. you can trace it from the invoice to the bank).

[Mohanfromblr]

What if the client is not a company? I mean if we are running a Technical training center (self-employed) and our customers are students and they pay by check or cash, how can we provide evidence using our business bank account?

[scorpio_besal]

it doesnt matter as long as the amount is getting tallied in your bank account with the documents(evidence) that you have provided as the source of income or earning.

you could use the fee receipt as evidence.

[Mohanfromblr]

it doesnt matter as long as the amount is getting tallied in your bank account with the documents(evidence) that you have provided as the source of income or earning.

you could use the fee receipt as evidence.

Thanks. I have 5 students who are about to take training from me and I charge 500 Pounds for each. They are currently doing MS and some of them dont have cheque books so they pay by Internet Transfer or by Cash to my business account. Still there is no problem?

[scorpio_besal]

Please refer to this link for more information and to go by books:-

http://www.ukba.homeoffice.gov.uk/worki ... searnings/

This page explains what proof of earnings you should send to support your application to the highly skilled worker category (Tier 1 General) under the points-based system to work in the United Kingdom.

[scorpio_besal]

Self-employed earnings within a business or company structure
If you have worked in a self-employed capacity in your own business or company structure and have chosen to keep your earnings within the business or company, you could send:
business or company accounts that meet statutory requirements and show the net profit made for the earnings period claimed; and
a letter from your accountant confirming the details in those accounts.
If you are not the sole shareholder of the company you should also provide a letter from your accountant confirming your shareholding and the proportion of net profit before tax to which you are entitled for the earnings period claimed.

[Mohanfromblr]

Self-employed earnings within a business or company structure
If you have worked in a self-employed capacity in your own business or company structure and have chosen to keep your earnings within the business or company, you could send:
business or company accounts that meet statutory requirements and show the net profit made for the earnings period claimed; and
a letter from your accountant confirming the details in those accounts.
If you are not the sole shareholder of the company you should also provide a letter from your accountant confirming your shareholding and the proportion of net profit before tax to which you are entitled for the earnings period claimed.

Ok then What I understand from these quotes is that as long as it is certified by the CA (whom we employed as Accountant for our firm) that the deposits in to the Bussiness Bank account are indeed payments made by the firm's customers, I think its fine for me to collect amount from my students (my firm's customers)by cash or cheque or I-net Transfer and I provide invoices to them and I keep a copy of invoice with me!
Am I right?

[scorpio_besal]

you should show the net profit made for the earnings period claimed; and
a letter from your accountant confirming the details in those accounts.

[shahid78]

Self-employed earnings within a business or company structure
If you have worked in a self-employed capacity in your own business or company structure and have chosen to keep your earnings within the business or company, you could send:
business or company accounts that meet statutory requirements and show the net profit made for the earnings period claimed; and
a letter from your accountant confirming the details in those accounts.
If you are not the sole shareholder of the company you should also provide a letter from your accountant confirming your shareholding and the proportion of net profit before tax to which you are entitled for the earnings period claimed.

Ok then What I understand from these quotes is that as long as it is certified by the CA (whom we employed as Accountant for our firm) that the deposits in to the Bussiness Bank account are indeed payments made by the firm's customers, I think its fine for me to collect amount from my students (my firm's customers)by cash or cheque or I-net Transfer and I provide invoices to them and I keep a copy of invoice with me!
Am I right?

what does its mean when u say keep profit within the compnay?