Managing agents & invoices from self-employment

[niw2]

Hi guys,

I have two quick questions regarding my upcoming Tier 1 (general) extension application.

I am self-employed in the UK, working through my own limited company. I have a managing agent who tells me how much to pay myself each week, and who deals with my tax returns.

I have read the policy guidance and searched the forums but have not been able to find a clear answer anywhere.

My two questions are:

1. As part of my evidence of previous earnings, I will be submitting a letter from my managing agent. I am not certain that my managing agent is a registered and qualified accountant. Does my managing agent have to be a qualified accountant?

2. As required, I will be submitting copies of the invoices for the work I carried out. I do not understand how I can produce "original" invoices, since the originals will have been sent to the client when they were issued. Do the invoices need to be stamped or signed, or are copies acceptable?

Thank you very much for your advice and guidance.

[Idea]

The accountant should be qualified and i dont think an agent can maintain your accounts. How does he know the tax laws if he is not an accountant ?

The invoices could be copies as far as i know. You could instead get an accounts statement made by your accountant (chartered and properly registered company)

[aruni4470]

1. As part of my evidence of previous earnings, I will be submitting a letter from my managing agent. I am not certain that my managing agent is a registered and qualified accountant. Does my managing agent have to be a qualified accountant?

In regards to your 1st question, the Policy Guidance clearly states the below on page 23

vi) Self-employed applicants only - letter from the applicant’s accountant (confirming that the applicant received the exact amount he/she is claiming, or the net profit to which he/she is entitled). This is a letter from the applicant’s accountant on headed paper confirming the gross and net pay for the period claimed. The letter should give a breakdown of salary, dividends, profits, tax credits and dates of net payments earned. If the applicant’s earnings are a share of the net profit of the company, the letter should also explain this. All accountants must be either fully qualified chartered accountants or certified accountants who are members of a registered body such as ACCA, CIMA, ACA, CIPFA etc.

[niw2]

Thank you both for your replies.

I have seen that part of page 23. Presumably all "managing agents" have to also be qualified/registered accountants if they are going to submit letters/summaries in support of an application, though it isnt absolutely clear.

You see, when I sent my managing agent an email asking whether he would have trouble meeting the criteria set out on page 23, he replied saying only that he has prepared letters supporting applicants for Tier 1 extensions in the past, without saying definitively that he is a qualified/registered accountant. That makes me uneasy.

Can anyone clarify that black and white print-outs of invoices are satisfactory when submitting copies of all invoices issued for self-employed work? (ie. my second question in my original post)