Im Confused Regarding the Earnings for Tier1 G

[MACY]

Hello there,
I am self-employed and owning a shop, im registered as a sole-trader, I am suppose to apply for the visa in next 6 months. Now my questions are:- do i need to open a business account on the name of my registered company or as a sole-trader.? Is my personal account is not enough...?. what documents do i need end of the day, invoices or something to match the transactions in my bank.?. Is it necessary to earn the profit in order to gain the points.? Or if i only earn the required income whether its profit or not is ok.?.. wt is the best way to do in my case, i need ur suggestions,. thanx in advance..

[devig]

Yes, you will need a business account. You will also need to have tax returns, a letter from your accountant confirming that you are the sole trader and you earn as much as you say. When HO says 'earnings', it means net profit. Does not matter how much the company bills it's clients, earnings are what remains after all the deductions. The profit and loss accounts and balancesheet of your company is also required.

[Sushil-ACCA]

Hello there,
I am self-employed and owning a shop, im registered as a sole-trader, I am suppose to apply for the visa in next 6 months. Now my questions are:- do i need to open a business account on the name of my registered company or as a sole-trader.? Is my personal account is not enough...?. what documents do i need end of the day, invoices or something to match the transactions in my bank.?. Is it necessary to earn the profit in order to gain the points.? Or if i only earn the required income whether its profit or not is ok.?.. wt is the best way to do in my case, i need ur suggestions,. thanx in advance..

personal account is enough for visa point of view but tax point of view it s extra NI payments

Profit is must for earning pts

u need a qualified acctnt to certify all