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I need to show 55k min gross earning for my ILR. I am director of a ltd company. Now this 55k needs to be reflected in my salary slips+dividend vouchers that I pay myself; or it can be shown as earnings in my business bank account?

arnie365 wrote:I need to show 55k min gross earning for my ILR. I am director of a ltd company. Now this 55k needs to be reflected in my salary slips+dividend vouchers that I pay myself; or it can be shown as earnings in my business bank account?

You and your company are two different entities. YOu have to show earnings from your personal account

arnie365 wrote:I need to show 55k min gross earning for my ILR. I am director of a ltd company. Now this 55k needs to be reflected in my salary slips+dividend vouchers that I pay myself; or it can be shown as earnings in my business bank account?

Hi Arnie365,

Regarding earnings that satisfy the PBS, the evidence an applicant can provide will depend on his/her circumstances and how he/she earned the money.

There are various explanations and examples of document combinations in Annex A of the Immigration Directorate Instructions:

http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary

For applicants who chose to keep their earnings within the business/company, please refer to pg 50:

Self-employed earnings within a business or company structure:

If an applicant has worked in a self-employed capacity in his/her own business or company structure and has chosen to keep his/her earnings within the business or company, he/she could provide:

- Business or company accounts that meet statutory requirements and show the net profit made for the earnings period claimed;
- and personal/business bank statements.

All the best.

arnie365 wrote:I need to show 55k min gross earning for my ILR. I am director of a ltd company. Now this 55k needs to be reflected in my salary slips+dividend vouchers that I pay myself; or it can be shown as earnings in my business bank account?

I have read this somewhere
If you are a director and shareholder of your company the most tax efficient mix for 2013/14 is:

Annual salary of £7,696

Dividends of £30,379

This will give you an annual income of £38,075 without any tax or national insurance being incurred by the employer or employee.

Question : Can I pay myself the above figure(£38,075) in salary+dividend to keep tax zero? And show the balance(£55,000 minus £38,075=£16,925) as net profit in my business bank account?