Post
by vagabond4life » Thu Feb 20, 2014 9:45 pm
As a contractor I assume you are working through a Limited company in the capacity as a Director. To claim points for income on this basis you have to show:
1.Salary from business and / or
2. Dividend
You will need salary slips and dividend vouchers signed by an accountant along with management accounts for period claimed. The payment from your company should match with your personal bank statement.
If you have not taken dividend and salary, I believe you can still claim points for NET profits.
Net profit = Gross income from bank - Expenses(like travel etc and corporation tax)
If you have not claimed expenses to increase Taxable income you will still have to deduct corporation tax.
However, my understanding of your post is that you have transferred ALL amount that you received as a contractor to your personal account. If this is the case, you will have to take help of an registered Accountant to get the documentation correct. Home Office is particularly strict with documentation of people working as contractors.
If you still have visa remaining on your current visa, I suggest you apply later with appropriate documentation.
