Dividends and Contract for Extension

[ssardar]

Dear members,

1. Can you please suggest if Home Office under Tier 1 Entrepreneur Visa stops a director of a LTD company taking out dividends and salary from the business? or any special rule apply?

2. I will be applying for my extension soon so I want to know if Home office requires all the current contracts to be sent along with the paper work as what I did for my initial application?

Thanks

[seasky]

You can take salary/dividend from profits or investment above the £200/50K

Do you mean business contracts? You do not have to send any per se, unless you use it to make the genuine entrepreneur case (which is a good idea to do, only send your important contracts)

[ssardar]

Thanks Seasky.

I am under 50K route so it means that in three years I can only take salary and dividends if the business has generated profits over and above 50K?
In 16/17 tax year I took £8060 and around £7940 (incl tax free dividends) so if the business in this period has generated less profit than £16000 then my extension application can be on stake?

Yes, I meant client's contracts.

[KAKA-MAG]

Thanks Seasky.

I am under 50K route so it means that in three years I can only take salary and dividends if the business has generated profits over and above 50K?
In 16/17 tax year I took £8060 and around £7940 (incl tax free dividends) so if the business in this period has generated less profit than £16000 then my extension application can be on stake?

Yes, I meant client's contracts.

You can take Divined as long as company have reserve,It will not going to effect your investment , If you have profit carried forward from last year you take dividend in 16/17 year , it should be fine.