ILR for director of limited company

[seanjoe]

Hi there,
I am applying in October for ILR under 5 years which encompass work permit/hsmp/tier 1.

My most recent 12 months will be as a director of my own company, where I have taken a minimum salary paying both NI and taxes. I will have 12 months payslips which will have total earnings amounting to approximately 15K. To top up the amount so that it exceeds my previous earnings assessment, I will need to issue myself a dividend. Is this normally done? Is this acceptable to UKBA?

The payslips generated for me by my accountant are black and white, so I presume I will need a letter from my accountant?? Will my payslips need to be stamped? I presume company bank accounts are required, but will personal bank statements be required?

Also, what is the threshold or business total income that I need to declare as I cannot see any stipulation for business turnover or profit as specified for personal earning levels?

Please help.
Thanks

[mk357]

Hi there,
I am applying in October for ILR under 5 years which encompass work permit/hsmp/tier 1.

My most recent 12 months will be as a director of my own company, where I have taken a minimum salary paying both NI and taxes. I will have 12 months payslips which will have total earnings amounting to approximately 15K. To top up the amount so that it exceeds my previous earnings assessment, I will need to issue myself a dividend. Is this normally done? Is this acceptable to UKBA?

The payslips generated for me by my accountant are black and white, so I presume I will need a letter from my accountant?? Will my payslips need to be stamped? I presume company bank accounts are required, but will personal bank statements be required?

Also, what is the threshold or business total income that I need to declare as I cannot see any stipulation for business turnover or profit as specified for personal earning levels?

Please help.
Thanks

Dividend can be paid its normal. Total income to be shown depends on the time when you actually applied for the HSMP, whatever the income level at that time would appy unless you are covered by HSMP JR.

[seanjoe]

Thanks for the above reply.
How about the stamping of the payslips? Does that need to be done?

Also, is it my personal income that will be assessed or my business revenue/profit that will be assessed?