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Setting a Company and BC
Posted: Mon May 31, 2021 11:35 pm
by moal11
Hi All,
Just a question, if I am on ILR (after tier 2) and I will apply for the BC after 4 months. If I setup now a limited company beside my full time employment. Is there any document I need to submit for UKVI when I apply for BC regarding the company I set it up?
Many thanks...
Regards,
Moal
Re: Setting a Company and BC
Posted: Tue Jun 01, 2021 6:31 pm
by moal11
moal11 wrote: ↑Mon May 31, 2021 11:35 pm
Hi All,
Just a question, if I am on ILR (after tier 2) and I will apply for the BC after 4 months. If I setup now a limited company beside my full time employment. Is there any document I need to submit for UKVI when I apply for BC regarding the company I set it up?
Many thanks...
Regards,
Moal
Any ideas??
Regards,
Moal
Re: Setting a Company and BC
Posted: Tue Jun 01, 2021 6:45 pm
by alterhase58
As such the formation of a limited company (with you as shareholder I assume) doesn't have to be disclosed, as far as I know.
If you are paid by your company as employee this should be shown in your 10 year UK employment history.
If you are paid outside PAYE then I believe you have to provide the latest self-assessment return.
Re: Setting a Company and BC
Posted: Tue Jun 01, 2021 6:57 pm
by moal11
Hi Alter,
Many thanks for your kind reply. Well, if I set the company now, the income I will get from it, will be definitely very low. My main income comes from the fact that I am employed in another company. This company I am thinking to set is just to do small jobs here or there, i.e. not the main source of income. As I understand, all things related to the tax (if I will set the company now) will come in April next year. Which is like 6 months after I apply for the BC, i.e. any taxation will not yet appear in the system.
Regards,
Moal
Re: Setting a Company and BC
Posted: Tue Jun 01, 2021 8:59 pm
by CULLINAN
Simply provide details in the cover letter. If you are registered as self employed or do not pay taxes via the PAYE scheme AND the deadline to file first tax return is not yet due, provide details in the cover letter.
Re: Setting a Company and BC
Posted: Tue Jun 01, 2021 11:59 pm
by bizman
There is no law that stops from having a company if you are still in an employment except the company so incorporated will carry out business such as the one your employer is doing and it’s indicated in your contract that you can not do that.
Re: Setting a Company and BC
Posted: Wed Jun 02, 2021 9:37 am
by moal11
Thanks all for your comments and replies, very much appreciated.
Regards,
Moal