I'm soon going to be applying for my Tier 1 (General) Extension based on my original Tier 1 (General) issued on 01/09/08
The 12 month period that I will claim as my earnings includes;
About 70% of my required earnings working as a contractor employed by an umbrella company ... ie simply salaried income.
The remaining 30% required coming from both salary and dividend payments issued from a limited company that I registered, own, direct and operate. I am the sole shareholder and director. I receive minimal salary payments and significant dividend payments issued to myself as and when the director (me) sees fit.
Just wanting to check if payments from my own company are ok? I'm not sure whether this is "self employed" or not? I am employed by "Company A" which issues me (virtual) payslips and takes care of my NI/PAYE taxes. It just happens that I'm the sole shareholder and director of "Company A".
The company of course does have an accountant that completes the more complex accountancy tasks and calculates the payroll.
As for the business generating income in the first place, this is paid in by an agency with whom the company holds contracts to supply specific services. As the only employee I supply all of those services (although there's nothing stopping the company from employing someone else to supply the services).
Assuming this is all indeed ok and I can claim salary and dividends from my own company (or the profit of the company as paid in by the contracting agency), what evidence will I need to provide? The guidance talks about payslips etc on company letterhead, but since this is just my own company for very small contracts we (I) don't have any letterhead and any official signing will be just done by me anyway!
What do you think?
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