Limited Company Setup

mrashid10249 · Post by **mrashid10249** » Thu Sep 01, 2011 11:45 am

hi there. i have read some valuable posts on the forum.
i would need some info if anyone could reply plz? i am on Tier 1 G Visa. i am working on contract basis at a chemical plant. recently i setup my own limited company. as a director, i receive salary and dividends from the company. i have registered my company for VAT as well.
my question is, whether i ll be considered as self employed or employee of my company? if i am self employed, do i need to pay class 2 National insurance contributions? i have set my wages very low while remaining i get as dividends, so not paying NI, could it effect on my visa extension application?

fora · Post by **fora** » Thu Sep 01, 2011 12:39 pm

i think Limited company is nor self employed.
If u registered yourself as a "sole trader" - in this case u r self employed

mrashid10249 · Post by **mrashid10249** » Thu Sep 01, 2011 12:44 pm

Dear Fora

thank you for reply. i have registered myself as online VAT submission, but i didn't as sole trader. could you plz advise what document i would need from my accountant for my Tier 1 extension application plz as an employee of my own company?

AccountantMatthew · Post by **AccountantMatthew** » Thu Sep 01, 2011 1:17 pm

I've just replied to the PM you sent on the same subject mrashid10249.

You'll need to find your salary slips and dividend tax certificates for your accountant as well as providing bank statements.

AccountantMatthew · Post by **AccountantMatthew** » Thu Sep 01, 2011 1:22 pm

... and here's the link for everything PAYE related (from HMRC website):-

http://www.hmrc.gov.uk/paye/index.htm

mrashid10249 · Post by **mrashid10249** » Thu Sep 01, 2011 1:41 pm

thank you very much guys

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Limited Company Setup

Limited Company Setup