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salaried employment + private limited company

Archived UK Tier 1 (General) points system forum. This route no longer exists.

Moderators: Casa, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, Administrator

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xerxer
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Posts: 4
Joined: Mon Aug 17, 2009 10:49 am

salaried employment + private limited company

Post by xerxer » Mon Sep 07, 2009 10:42 pm

i ll present combination of my salaried employment earning ans my prvate limited compny earnings...but

i am the director in my company and operating it myself but when registering to companies house i shoowed to other shareholders
%80 me
%10 another person
%10 another person

do u think this will affect my earnings calcualtion? ia mthe only person who use my companies profit and i just added them randomly when regisering? what do u think...i should remove them??

ChetanOjha
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Posts: 2771
Joined: Thu Dec 28, 2006 12:49 am
Location: London
United Kingdom

Re: salaried employment + private limited company

Post by ChetanOjha » Mon Sep 07, 2009 11:06 pm

xerxer wrote:i ll present combination of my salaried employment earning ans my prvate limited compny earnings...but

i am the director in my company and operating it myself but when registering to companies house i shoowed to other shareholders
%80 me
%10 another person
%10 another person

do u think this will affect my earnings calcualtion? ia mthe only person who use my companies profit and i just added them randomly when regisering? what do u think...i should remove them??
You can have have as many shareholder as you want in your company.As far as you are able to provide evidence of your earnings e.g. payslips,personal bank statements,dividend vouchers, letter from your accountant etc. you will be fine.
No. of directors in your company will not affect your HSMP application but you may land in trouble if HMRC investigate it. You cannot have dummy shareholders in your company. I would advice you to get your affairs straight. You cannot just add shareholders "randomly".

xerxer
Newly Registered
Posts: 4
Joined: Mon Aug 17, 2009 10:49 am

Post by xerxer » Mon Sep 07, 2009 11:56 pm

i mean do i need to calculate other shareholders/dividens profit too??cos if i need other shareholders profit too might be short for previous earning calcualtion

ChetanOjha
Moderator
Posts: 2771
Joined: Thu Dec 28, 2006 12:49 am
Location: London
United Kingdom

Post by ChetanOjha » Tue Sep 08, 2009 8:21 am

xerxer wrote:i mean do i need to calculate other shareholders/dividens profit too??cos if i need other shareholders profit too might be short for previous earning calcualtion
You have to declare/decide profit of the month/quarter. Let's say you decide to give 1000/- as dividends. You as per the rule you will get your share of 800.
You can chuck out other dummy directors so that you have 100% shares of the company. I am not sure about the dividends of other shareholders(for previous period), but going forward you can have 100% share of dividends.

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