Post Study to Tier 1 - Initial Application

[Rajvar2008]

Hi all.

I have gone through several threads on this section of the forum but none seems to answer my specific questions. Would be glad if someone could shed some light on the following questions.

I am currently on post study and will be applying for Tier 1 in Jan 2010. I am going to be using my employer as well as my self employment earnings.

1. Traffic offence. I have a prior traffic record of speeding. I went to court and was given a fine and some points on my license. Will this affect my Chances for Tier 1 approval.

2. I'm using my photography/IT services (web design) business as my self employment. I usually snap people and have them pay the proceeds into my salary account. Do I need a separate account for my business or is it ok to use the same account for salary and business

3. Like i mentioned earlier. I run a photography/IT business. My clients pay for my services into my account either via cheque or cash. Should I register this type of company as a sole trader or a Limited Company.

Thanks in anticipation of your replies.

[cheshiregoan]

1. Traffic offence. I have a prior traffic record of speeding. I went to court and was given a fine and some points on my license. Will this affect my Chances for Tier 1 approval.

It won't affect your chances as it is not a criminal offence. But make sure you mention it in your application form otherwise it will affect your chances.

2. I'm using my photography/IT services (web design) business as my self employment. I usually snap people and have them pay the proceeds into my salary account. Do I need a separate account for my business or is it ok to use the same account for salary and business

If you register as a sole trader then it shouldn't be a problem. If you register as a company, I am not too sure about the technicality. Perhaps an accountant will advise you better.

3. Like i mentioned earlier. I run a photography/IT business. My clients pay for my services into my account either via cheque or cash. Should I register this type of company as a sole trader or a Limited Company.

Once again speak to an accountant who will be able to advise you better. He'll be able to explain the pro's and con's and more importantly in your situation where you have received a lot of the income into your personal account, you need to be careful.