Tier 2 Extension

[shaz007]

Hi bro

I have some question for my extension due next year

I am paying myself as a director min salary like £700 under Limits of NI and im not paying my NI ? is it fine? or do i need to pay NI?


second
When you hire 2 person can i hire 1 full time and 2 part time workers ?

Third
Is it compulsory to finish all the 50k money before you apply for the extension or when you move the money from personal account to my business bank and still have some money left in the bank when i submit my extension ?

Fourth
do we need special accountant Registered or have more than 10 years of experience person to get the accounts and confirmation that we hired people paying the national min wage?


Please Reply me Brother specially senior members I will appreciate it

[shaz007]

NO reply bro?

[zimba]

This is Tier 1E forums. Your incorrectly put Tier 2 on the subject !!

I am paying myself as a director min salary like £700 under Limits of NI and im not paying my NI ? is it fine? or do i need to pay NI?

No need to pay any taxes if not applicable.

second
When you hire 2 person can i hire 1 full time and 2 part time workers ?

Yes. Read the guide.

Third
Is it compulsory to finish all the 50k money before you apply for the extension or when you move the money from personal account to my business bank and still have some money left in the bank when i submit my extension ?

Simply transferring the money to business bank account is not investment. You need to show that you transferred the money and you are using it in your business. However you do not need to show that you used it all.

Fourth
do we need special accountant Registered or have more than 10 years of experience person to get the accounts and confirmation that we hired people paying the national min wage?

Yes, your accountant must be registered with certain bodies in the UK. See the guide.

It seems that you have very little idea about Tier 1E rules. You MUST first read the guide fully !!!
Guide: https://www.gov.uk/government/publicati ... trepreneur