Ltd Comp - Min Salary - 1 Annual Payment - Help Please

[ashvar123]

Hi Guys,

Could you please help me with the situation below..I am applying this month
I am on Ltd Company - taking min Salary + Dividens

My accountant instructed me to take a minimal salary under tax code 747L and confirmed the amount can be transfered.. when I asked for the monthly breakup to show 12 payslips along with the Div vouchers that needs to be produced to Home Office-

She told it is one off Annual Salary, hence not required to prepare 12 payslips.. and also she mentioned that an accountant letter will be sent confirming my one off Annual salary and Dividends payments made are genuine.

She says there is no problem for extension...

Guys did any of you encounter such situation..?

Wht do you recomend - ?

Irrespectively - should I ask the accountant to produce 12 payslips for each month and put the transactional/payment date as todays date for clearing all those payslips

(Or)
Is one off Annual Salary acceptable


Appreciate your response Seniors..

[ashvar123]

Help Please..

[AccountantMatthew]

I can't really see a problem with what she's doing here although I do obviously say that with the usual caveat that I don't work for UKBA as a caseworker.

My reasoning is that you are still taking a salary, you are claiming the salary and can prove that with regards to a payment being made to your bank account, match that payment to a payslip and have got further back up from the accountant's letter.

It is obviously more unusual since the vast majority of people get paid monthly or weekly and it may confuse as a result. However saying that, it isn't unique and won't be a first for UKBA. Also it isn't against the law and you will be paying the correct taxes on your salary.

[ashvar123]

Many Thanks for the response Matthew..

So shall I ask the accountant to provide a breakup for one payslip for the entire year and make one payment.. hope that is what you meant to say..

Please correct me if I am wrong..

[AccountantMatthew]

Well it's really between you and your accountant as I don't want to either start directing them or trying to second guess the UKBA.

All I'd say is that the one payment/one payslip won't be a unique situation even though it isn't the normal pattern of pay when compared to you being an employee of somebody else's business. You also seem to have sufficent proof for that income.

[ashvar123]

Many Thanks Matthew..

I shall go with One Payslip..