Tier 1 extension: salary from my own limited company

[happycamper19]

Hello there,

I just got my extension back in June of this year. Since I applied early, I will have to apply for another extension before I am eligible for ILR in 2014.

I have recently set up my own limited company (I am the sole shareholder). This is a start up and I do not expect this entity to become profitable in time for my extension. However, as a Director, I do plan to draw salary (I have to eat after all and pay all required taxes on it.

Question: for the purposes of Tier 1 extension in 2014, can I claim the salary I draw from my own company as a Director (that I exclusively control) towards my required earnings even though the limited company itself is loss making and, probably, generating little or no sales by the time of application?
p.s. to give you context this is a technology startup that requires time and investment before meaningful revenues start trickling in.

I would be grateful for any informed opinions. [/u]

[geriatrix]

If the company will not making any sales, where will the money for your salary come from?

From the money you'll put in as seed capital? Nah, UKBA is smarter than that.

[happycamper19]

Thanks. But this is the whole point, are there actually UKBA rules/laws in place that prevent one from using salary paid out from initial seed capital to claim those earnings to extend Tier 1? This is assuming I can prove that my limited company is incurring expenses and investments towards developing its product.

One more caveat, the seed capital will not come from me but from my family i.e. it is not just me recycling cash from my personal bank account towards my company and then me paying back to myself in the form of salary