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ILR- self employment documents needed

Posted: Tue Apr 10, 2012 8:27 pm
by Raghav1978
Hi

I am on a HSMP +tier 1 visa and booked PEO at Croydon on may 9 ,2012. I am a self employed person since 2010 and I have enough points needed for ILR. I would appreciate the members if you could answer couple of queries related to ILR for self employed category.

1) my financial tax year ended on 5 apr 2012 and I am going for PEO on may 9 so in order to file my tax returns it won't be possible till end of April as acc to HMRC the financial year 2011-12 forms hasnt started yet. So what documents to show for the proof of earnings apart from bank statements and invoice from self employment earnings.

2) does the statements of accounts from my accountant showing gross n net profit Will be fine ?

3) my accountant is a certified public accountant ( CPA) and a fellow member of certified public accountants and as according to Tier 1 guidelines for ILR they want accountants and affirms should be a member of some recognised bodies and he is not one among them. Will it be fine if I still file my returns from such accountant. Or are they particular about the membership bodies ?

4) what are the documents needed to prove my earnings apart from bank statements as they need three forms of documents for self employed earnings.

5) for self employed persons according to tier 1 guidance they consider only net profit not gross. Can any one throw some highlights on this.

I would appreciate replies from board members.

Thanks
Raghav

Posted: Tue Apr 10, 2012 9:10 pm
by nnj10
the form (sa100) is available from today.
I am applying in may and I am going to file my tax return by end of this week.

Posted: Wed Apr 11, 2012 2:19 pm
by ITGraduate
I am too in the same boat. I am self employed and going for ILR in august.

I am going to file for the period between april 2011 to april 2012 next week.

When I go for ILR in August,

1- what do I say for months between May12 to July 12?

2- What proof do I have to take from my accountant or myself?

3- Do I need to get the accounts done from april 12 to july 2012 for ILR purpose?

Please help!!

Thanks,

Self employed

Posted: Thu Apr 12, 2012 12:34 am
by lhmmlb
I am self employed and just got same day at a PEO. I went for SET(M) with my partner. The rules say you must demonstrate finances, money to support you and your partner. We were caught completely off guard, when the first paperwork-clearer (not actual Immigration Officer) demanded additional proof of earning, payslips and he wanted to see money going form an employer to a/our bank accounts. Problem is, we're both self employed.

What saved it? A letter of guarantee, and major financial statement from my business partner, a copy of our corporate tax returns, Companies House incorporation papers, and the banks accounts (mine, partners, and JOINT) with money in them.

The guy was pretty flip when I asked where these new requirements came from "Anybody could put money in a bank account and take it back out".

I would say to both of you, take the bank registers, and your personal statements, showing money out-money in. Take a verified paper trail. They want bank statements, as much as prepared paperwork. The good thing about an accountant is that they are bound to truth, through the EA Association, so it should be most credible.

Another thing: for recent bank accounts, we went to the bank, got to-the day printouts stamped, to prove the money was in there.

I hope this is helpful.