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Salaried Director in Limited Company

Posted: Sat Aug 13, 2016 12:53 pm
by soopan123
Dear Senior Members,

I am on tier 1 and going to apply for ILR next year. I have my own LTD company(100% owner). Presently working as IT Contractor, i did my first 2 extensions through my limited company by taking salary and dividends.

I am planning to take only salary from limited company up to 32000 for the next 8 months donot want to take any dividends.

in this scenario what documents do i need to show.?

Do i need to show accountant letter , abbreviated accounts , invoices ?

Thanks you for the guidance.

Re: Salaried Director in Limited Company

Posted: Sat Aug 13, 2016 2:01 pm
by Abc499
soopan123 wrote:Do i need to show accountant letter , abbreviated accounts , invoices ?
You should be ready with that even if you do not provide. For salary income Payslip and bank statements enough but when you are the director of the company which pay you salary, then they can ask you for the company accounts as you are the same person who instruct the salary amount and receiving too.

In addition, make sure for the previous years (initial/extension) you have submitted the Self Assessment tax returns and dividend was declared on the return.