Interesting question-Please help

[1n1le]

Hi All,
If a dependent started a LTD company and then the primary applicant joined as a co-director with 50-50 shares as well:

1) Would it be fine to show primary applicant information (in the LTD company) alone or need to show the earnings of dependent as well?
(In other words, is it needed to show the entire LTD company earnings info or individual's earning in LTD company is enough?)

2) Would the document be any different for the primary applicant than the usual LTD director documents talked about in the guidance and in this forum?

Yes, we both take salary and dividend in equal precentage.

Kindly help.

Regards.

[1n1le]

Anyone good hearted people please help!!!!!!

[Jeff-2012]

Hi All,
If a dependent started a LTD company and then the primary applicant joined as a co-director with 50-50 shares as well:

1) Would it be fine to show primary applicant information (in the LTD company) alone or need to show the earnings of dependent as well?
(In other words, is it needed to show the entire LTD company earnings info or individual's earning in LTD company is enough?)

2) Would the document be any different for the primary applicant than the usual LTD director documents talked about in the guidance and in this forum?


Yes, we both take salary and dividend in equal precentage.

Kindly help.

Regards.

1) You will need the following while applying (in your case) + Entire Ltd company earnings.

Limited Company Certificate
Shares certificate
Minutes of Annual Meeting
Company Bank Statements (original) showing both Salaries & Dividends (Claimed Earning period)
Your Personal Bank Statement where you are taking dividends Company Business Accounts (Claimed Earning period) - take Accountant on board immediately!
Tax payed/due
etc other few supporting docs along with above

2) Document..? Form ? yes same...

Yes, take salary and dividend in equal precentage.

[sakman]

Your Personal Bank Statement where you are taking dividends Company Business Accounts (Claimed Earning period)

Hi jeff and 1n1le, when you mention dividends is this a transfer of money from business account to personnel account?
And how would mention this in your application?
or how would you explain this in your application?

[Jeff-2012]

Your Personal Bank Statement where you are taking dividends Company Business Accounts (Claimed Earning period)

Hi jeff and 1n1le, when you mention dividends is this a transfer of money from business account to personnel account?
And how would mention this in your application?
or how would you explain this in your application?

Yes its same transfer and in payment reference your will write DIVIDEND..
No need the explain it in application...
It will be in accounts docs...

[sakman]

Thanks,

when i transferred money from business account into my personnel account i did not write any description of what that money was for.

Do you think i should make a separate letter which shows the dates i transferred money from business account to personnel account and state that these payments are dividends

[Jeff-2012]

Thanks,

when i transferred money from business account into my personnel account i did not write any description of what that money was for.

Do you think i should make a separate letter which shows the dates i transferred money from business account to personnel account and state that these payments are dividends

As I mentioned You should give transfer reference as Dividend...
discuss this issue with accountant...

[1n1le]

Hi All,
If a dependent started a LTD company and then the primary applicant joined as a co-director with 50-50 shares as well:

1) Would it be fine to show primary applicant information (in the LTD company) alone or need to show the earnings of dependent as well?
(In other words, is it needed to show the entire LTD company earnings info or individual's earning in LTD company is enough?)

2) Would the document be any different for the primary applicant than the usual LTD director documents talked about in the guidance and in this forum?


Yes, we both take salary and dividend in equal precentage.

Kindly help.

Regards.

1) You will need the following while applying (in your case) + Entire Ltd company earnings.

Limited Company Certificate
Shares certificate
Minutes of Annual Meeting
Company Bank Statements (original) showing both Salaries & Dividends (Claimed Earning period)
Your Personal Bank Statement where you are taking dividends Company Business Accounts (Claimed Earning period) - take Accountant on board immediately!
Tax payed/due
etc other few supporting docs along with above

2) Document..? Form ? yes same...

Yes, take salary and dividend in equal precentage.

Aaah! Thanks Jeff!

I think the business account statement and a mention in cover letter would suffice to show the entire LTD earnings. Do you think so?

And also I was wondering why we would need the minutes of meeting. Just trying to understand!

Warm Regards

[Jeff-2012]

Hi All,
If a dependent started a LTD company and then the primary applicant joined as a co-director with 50-50 shares as well:

1) Would it be fine to show primary applicant information (in the LTD company) alone or need to show the earnings of dependent as well?
(In other words, is it needed to show the entire LTD company earnings info or individual's earning in LTD company is enough?)

2) Would the document be any different for the primary applicant than the usual LTD director documents talked about in the guidance and in this forum?


Yes, we both take salary and dividend in equal precentage.

Kindly help.

Regards.

1) You will need the following while applying (in your case) + Entire Ltd company earnings.

Limited Company Certificate
Shares certificate
Minutes of Annual Meeting
Company Bank Statements (original) showing both Salaries & Dividends (Claimed Earning period)
Your Personal Bank Statement where you are taking dividends Company Business Accounts (Claimed Earning period) - take Accountant on board immediately!
Tax payed/due
etc other few supporting docs along with above

2) Document..? Form ? yes same...

Yes, take salary and dividend in equal precentage.

Aaah! Thanks Jeff!

I think the business account statement and a mention in cover letter would suffice to show the entire LTD earnings. Do you think so?

And also I was wondering why we would need the minutes of meeting. Just trying to understand!

Warm Regards

Business account statement is OK but unless i have list of all supporting docs that you are providing cant say anything...

Regarding annual meeting minutes, just wanted to highlight that you acquire 50% share now...to make it more genuine! lol
MoM is not essential if you dont like this idea

[1n1le]

Oh yes, i will sumbit all supporting documents as well along with busines bank account.

My accountant will anyways do MoM, so no problem, was just tring to understand!

Cheers