Financial requirement - Income category and documents?

[aneesh99]

Hi,

I need help with section 3.3 (financial requirement) of section-FM-1.7

I am directory of pvt ltd company.

My employment history:
1. may 10 to feb 11 - working through company (took only dividends)
2. mar 11 to oct 12 - permanent job (salary)
3. nov 12 + - contracting through my company (salary and dividends)

PAYE registered in Dec 12. was taking only dividends before.,

I want to know which categories do i fit in

1. Category B for income from salaried employment (not working with current employer for more than 6 months)

for part(1) - previous salaried employment (pay slips etc)

Now
for part(2) - would i count the current salary under salaried employment?

OR do I count the income under Category F of self employment ??

do i need to prove CT600 etc even if i apply under category B with category F?

Thanks

[aneesh99]

In other words do i take my current employment (being director of limited company getting salary with PAYE) as salaried employment or self-employed.


http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary


9.3.1.
The period of the relevant financial year will be determined by the type of self-employment. For those employed as a sole trader, partner or in a franchise this will be the period covered by the self-assessment tax return and runs from April to March each year. For those employed as a director of a limited company (who are treated as though they were self-employed), it will be the period covered by the Corporation Tax (CT) returns and coincides with the 12-month accounting year of the company.

9.7. Directors of Limited Companies - Requirements
9.7.1. A limited company is owned by its shareholders. Where such a shareholder is also a director employed by the company, they may be paid a salary. However, for the purposes of the financial requirement a director of a limited company is treated as though they were selfemployed. This is because of the financial year basis on which the operation of the company needs to be evidenced and assessed.

[aneesh99]

Any advice friends!!

[Casa]

You're in the wrong section of the forum. I'll move it.