I love this forum and this is my first question here - I've had difficulty finding a definitive answer from here or elsewhere.
My question is this : DO I need to regsiter as self employed with HMRC? I'm the sole Director of a registered UK limited company.
I wish to apply for my Tier 1 extension in July 2011 (though my visa expires in Jan 2012 I wish to apply 6 months earlier to be cautious).
I wish to claim £40,000 income from 3 sources to qualify:
1.) £6,400 paye from company XYZ
1.) £6,000 paye from my own company
2.) £28,000 dividends taken mostly every 1-2 weeks from my own company.
Company gross revenue was £45,000 and dividend was taken from this (ie. revenue-costs-tax).
Really need to get any concrete proof from anyone whose gone down this Tier 1 extension path as a Director of LTD company drawing dividends and maybe extra income from another paye source.
I'm a bit worried as some entries I've read say I do (which would make my previous income a waste) while some forum entries I've read say I dont - the Home Office guide in my view is not too clear on this.
Anyone?
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