Contracting_payslips_dividents_mismatch on bank statement

[ubabnannak]

Dear All,

I am due to renew my Tier1 General Visa by Feb 2013. I have changed my job from contrating to permenant last month.

So i am in the process fo winding up my limited company. And so i am getting all the financial documents required for the income proof. My wife was added as an employee of my company. My company used to get payed weekly and i used to transfer around 75% to my personal bank account.

I have got the payslips and divident slips from my accountant which matches with the company bank account statement, but i am not sure about the amount in my personal bank statement.

for eg: For Jan 2011 Amount trasfered to my personal account was 3400 which consists of £820 (my salary) + £500 (wifes's salary)+ £2080 (my divident).

Is this ok..? in other words, how do i prove the amount split..
Any advice + help appreciated.

Please ask if you need more info for prompt help.

Thanks

[ankitv]

Dear All,

I am due to renew my Tier1 General Visa by Feb 2013. I have changed my job from contrating to permenant last month.

So i am in the process fo winding up my limited company. And so i am getting all the financial documents required for the income proof. My wife was added as an employee of my company. My company used to get payed weekly and i used to transfer around 75% to my personal bank account.

I have got the payslips and divident slips from my accountant which matches with the company bank account statement, but i am not sure about the amount in my personal bank statement.

for eg: For Jan 2011 Amount trasfered to my personal account was 3400 which consists of £820 (my salary) + £500 (wifes's salary)+ £2080 (my divident).

Is this ok..? in other words, how do i prove the amount split..
Any advice + help appreciated.

Please ask if you need more info for prompt help.

Thanks

Dude - Did you have an accountant? if you had, I was surprised how they missed it.

First of all how can you transfer your wife's salary into your own personal account?? its your wife's salary !!!

And secondly as you have described, it seems that you were drawing a monthly dividend, though that's technically possible but not really advisable practically.

To answer your original question, no you CANNOT claim £3400.
Your accountant should be able to advise further.

[paribus]

Dear All,

I am due to renew my Tier1 General Visa by Feb 2013. I have changed my job from contrating to permenant last month.

So i am in the process fo winding up my limited company. And so i am getting all the financial documents required for the income proof. My wife was added as an employee of my company. My company used to get payed weekly and i used to transfer around 75% to my personal bank account.

I have got the payslips and divident slips from my accountant which matches with the company bank account statement, but i am not sure about the amount in my personal bank statement.

for eg: For Jan 2011 Amount trasfered to my personal account was 3400 which consists of £820 (my salary) + £500 (wifes's salary)+ £2080 (my divident).

Is this ok..? in other words, how do i prove the amount split..
Any advice + help appreciated.

Please ask if you need more info for prompt help.

Thanks

Dude - Did you have an accountant? if you had, I was surprised how they missed it.

First of all how can you transfer your wife's salary into your own personal account?? its your wife's salary !!!

And secondly as you have described, it seems that you were drawing a monthly dividend, though that's technically possible but not really advisable practically.

To answer your original question, no you CANNOT claim £3400.
Your accountant should be able to advise further.

Why is a monthly dividend not advisable - if your company is making profit on a monthly basis after all expenses, shouldn't you be able to declare dividends without issues?