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option 2KD1 wrote:Hi,
Am filling in my SET (o) form as a self employed Tier 1 migrant.
What should the earnings claimed be based on?
Option 1 - Net salary + gross dividend
or
Option 2 - Gross salary + net dividend?
I am fine on the points scored on either basis but wanted to check the correct procedure.
Any answers appreciated.
Thanks.
Source: http://www.ukba.homeoffice.gov.uk/sitec ... iew=BinaryThe caseworkers should consider the gross dividend paid to the applicant. Where a breakdown of the dividend payments is given on the pay advice, the gross dividend is the net dividend payment plus the tax credit stated.
If you have taken 1000 pounds from company account to your personal account. You have to calculate 1000 figure. i don't know its gross or tax credit.tier1Reading wrote:Neither... the correct answer is:
Gross Salary + Gross Dividend.
It means you can include Tax Credits of the dividend as your income.
No.... if I take £1000 from my company, then I can show £1000 + 111.11(tax credit) = 1,111.11 as my total earnings.ryan2020 wrote: If you have taken 1000 pounds from company account to your personal account. You have to calculate 1000 figure. i don't know its gross or tax credit.
i don;t know i have counted 1000for example above and it works 2 timestier1Reading wrote:No.... if I take £1000 from my company, then I can show £1000 + 111.11(tax credit) = 1,111.11 as my total earnings.ryan2020 wrote: If you have taken 1000 pounds from company account to your personal account. You have to calculate 1000 figure. i don't know its gross or tax credit.
http://www.hmrc.gov.uk/taxon/uk.htm
