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Buy sell stuff for Tier1 visa extension earnings attribute

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

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friefox
Newbie
Posts: 49
Joined: Sun Nov 11, 2007 7:02 pm

Buy sell stuff for Tier1 visa extension earnings attribute

Post by friefox » Fri Feb 24, 2012 7:16 pm

Hi,
One of my friend is in a situation where he is falling short of 5 points for his Tier1 extension. Is it possible to buy/sell stuff and show the profit as earnings. He has a fulltime job, but the pay is not sufficient to get needed points, and the job contract also prohibits him from taking up any other form of employment. He came up with an idea of buying and selling a car and manipulating the deal as a profitable earning. Is this a valid income to be considered under the earnings attribute?

Please help
Thanks

shahjee11
Member
Posts: 172
Joined: Fri Sep 30, 2011 12:52 am
Location: UK

Post by shahjee11 » Fri Feb 24, 2012 8:20 pm

He needs to get registered as a self employed car trader with HMRC and needs to prepare his accounts accordingly. He will also have to pay the proper tax and NI on this income.

On the note of employment contract prohibiting taking up another job is a matter between his employer and him and nothing to do with HO. By what you are saying, I assume that his current employment contract is stopping him from taking up another employment. If this is the case then he can go self employed as I said in the beginning.

This is all based on my personal understanding though.

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