Tier-1 - ILR - LTD company

[adityaisukapalli]

Hi Members,

I am going to apply for ILR (5 year Tier-1 G) in January 2016. After University I have only been doing contracting through my own LTD company. In 2011 when I applied Tier-1 G visa (switched from PSW) I have shown £39k (required £35k) gross income but later made amendements to company accounts which makes my gross income £36.5k. Will this be an issue if HO CSW checks on my history and or is there a way to correct this ?

Your valuable input will be helpful for me. I can act asap to fix this if i need to.

-Thanks
Aditya

[Wanderer]

If there is a tax discrepancy this will be an issue.

[adityaisukapalli]

Hi,

Thanks for your reply. Both figures are with no tax (below £42k). Do you think this will still be an issue or is there a way to correct this ?

-Thanks
ADITYA

[Wanderer]

Hi,

Thanks for your reply. Both figures are with no tax (below £42k). Do you think this will still be an issue or is there a way to correct this ?

-Thanks
ADITYA

But there is tax, since the company's Corporation tax is affected by movements in sal/dividend.

What was the reason for the gross income amendments?

[adityaisukapalli]

I have taken more dividend then paid it back into company.
So I have not underpaid any CO tax.. I paid it all. But now I sm wondering whether this will be an issue because the figures were different?

[ilrvisanow]

Nooooooooooooooooooo
They are wrong as long as changes to your tax does not take you below threshhold it does NOT make any difference. Anyone who has business understands expenses can not be predicted exactly. Key is to ensure it is not below the limit.

[ahj]

Hi folks,

I will highly appreciate your advice on situation below:

- I applied for initial Tier1 G in 2011 (Employed + part Self employed). For self employment period shown to HO was accounts closing on 28 Feb (Net profit around £10k) as I was applying in March 2011. However, when the accounts were closed at end of tax period 6th April 2011 the profit dropped to around £3k due to client not happy with services received and resulted in refund of the payment received prior to 28th Feb. Tax was then paid to hmrc on the £3k profit earned on year ending April 2011, NI contributions were paid accordingly. Please note net profit for the same year shown to HO was £10 while declared to hmrc was £3, for the reason explained earlier. Will this impact on my application for ilr, I am eligible for both LR & Set(o) next year?

-In the first year of initial Tier1 G leave my earnings dropped from the required level of earnings as I could not find any business through self employment and was only employed. However I kept paying NI contributions as I was looking for business, but eventually I had to close self employment at the end of the year. Will this impact on my application for ilr?
Please note since second year of initial Tier1 G leave for last threes I am employed and meeting the earning requirements for last three years, and extention of Tier1 G was granted in 2013.

Also, what would be the best rout for to apply for ilr in this situation LR or Set (o)?

Senior members or members who have been through situation please advice/comment.

Many thanks,

[ilrvisanow]

@ahj
might be a good idea to talk to a lawyer about this issue. I think he will ask you to be aware that HO might ask for SA302

[adityaisukapalli]

Will the Case worker check LTD company accounts or Personal income records?

[adityaisukapalli]

Hello Forum Members,

I am going to apply for ILR at the end of January 2016. I am on Tier-1 G visa since Feb'2011 and working as an IT Contractor through my LTD Company since then. I have been to India for holidays c50 days in total in past 5 years.

1. Do I need to submit a letter from LTD Company for these 50 days ? these are personal holidays.
2. Do I need to submit absence summary spreadsheet ? If Yes, is there a simple template ?
3. Do I need to take (PEO) copies of tickets etc ?

-Thanks
ADITYA

[secret.simon]

1. Do I need to submit a letter from LTD Company for these 50 days ? these are personal holidays

Not if you are Tier 1 G. I believe that this requirement is limited to Tier 2. But I would await other comments.

2. Do I need to submit absence summary spreadsheet ? If Yes, is there a simple template ?

I would recommend it. Makes the caseworker's job easier. Make it in Excel, with columns for "from", "to", "No of whole days" and "running total", with subtotals for each year of T1G.

3. Do I need to take (PEO) copies of tickets etc ?

Likely will not be required. But better to be safe than sorry.

[geriatrix]

Q16