NIC + PAYE Ltd Company (Extension in 10 days)

[dharma123]

Hi All,

I am a director of a Ltd Company. I am filing my tier 1 extn visa in a week's time.

I will be submitting the following documents.

Payslips
Dividend Vouchers,
CA Letter,
Personal Bank Statement
Business Bank Statement
VAT Certificate
Incorporation Certificate.

I have a few questions and I am really concerned. I have taken salary of more than £6500 in a year and I havent made NIC Contributions so far. My CA never told me about it. Do I have to pay NI or can I pay it now.

Also I have taken 24-26 dividends in last 1 year. Are that many dividends allowed...

Do I have to submit P60 ?

I will really be grateful if anyone can provide any guidance?

Many Thanks
D

[AccountantMatthew]

Hi dharma123

Regarding your Q's:

I have taken salary of more than £6500 in a year and I havent made NIC Contributions so far. My CA never told me about it. Do I have to pay NI or can I pay it now.

From what you say, it looks likely that NIC is payable. It's worth speaking to your accountant about first just to check what has/hasn't happened and taking it from there.

Also I have taken 24-26 dividends in last 1 year. Are that many dividends allowed?

In short, yes providing that there were sufficient distributable profits in the business at the time.

Do I have to submit P60 ?

I'm only speaking as an accountant here so if someone with more visa knowledge than I comes along, give their response more weight .... a P60 will show what money you've earned, what PAYE you've paid and what NI has been paid in that job for a given tax year. It won't necessarily fit in with your dates and I don't believe that it has to be sent to UKBA but it is evidence of income and that tax/NI has been paid.

All the best.