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Hi,

I Tier 1 (G) need clarification on a couple of issues (I am applying ILR in June):

Based on erratic HO mood for bringing changes every now and then, and to cater for any higher earninig threshold they could propose, I would like to count on my full last 12 months salary which includes self employment. I worked for a 1.5 months as self employed and paid myself least salary now when I try to shut this limited company my accountant is asking if I would like to receive amount as capital gain or dividends (which will incur me extra tax and I would like to avoid it). As per current threshold I can claim points based on my 6 months salary without having to consider limited company income.

Question: Should I close company and claim all amount as capital gain by assuming that salary threshold don't change until June this year?

Thanks.

Please reply thanks.

xyz111 wrote:
Question: Should I close company and claim all amount as capital gain by assuming that salary threshold don't change until June this year?

How can anyone tell what you should be doing based on guess work?

xyz111 wrote:Hi,

I Tier 1 (G) need clarification on a couple of issues (I am applying ILR in June):

Based on erratic HO mood for bringing changes every now and then, and to cater for any higher earninig threshold they could propose, I would like to count on my full last 12 months salary which includes self employment. I worked for a 1.5 months as self employed and paid myself least salary now when I try to shut this limited company my accountant is asking if I would like to receive amount as capital gain or dividends (which will incur me extra tax and I would like to avoid it). As per current threshold I can claim points based on my 6 months salary without having to consider limited company income.

Question: Should I close company and claim all amount as capital gain by assuming that salary threshold don't change until June this year?

Thanks.

Your Accountant has advised you what to do. What is going to happen and what you are hoping to do,how could some one advise you.

they arent interested in your company affairs,

all they want to see is proof of income for the amountof points you are claiming under Income category

So if you are claiming 40 K (for say 20 points)
then you need to show 40K in your personal account. which could be a sum of your income as employed, + self employed salary + dividends + capital gains.

which option is the best for tax bebefit is something you have to work out with your accountant.

just be sure you have enough money coming in to meet the points.