Limited Company - Dividend amount in case of 50-50 holding

[vikasbirla]

Hi

I am applying for Tier 1 extension visa with same day service. And I have a limited company with 50 - 50 %age share between my wife and me.

The last dividend which I have taken is only for me and not given any dividend to my wife as there is not enough money in the business bank account to give the other dividend.

Now what my accountant has suggested me is to change the %age share to 100 - 0 and after that there will not be any problem and he will prepare the profit - loss statement.

I want to ask is there risk of changing the company share at the last moment , will the case worker will see anything dodgy here ?

Thanks
Vikas

[vikasbirla]

Can anyone please reply to this ?

Or the other option with me is too keep the %age share same and only give dividend to me and not to my wife.

By doing so, I will have the complete salary which is required but my wife will not received the dividend.

Does the case worker go in such details ? or is it fine not to give the dividend to one share holder at the same time and explain it in a way that the dividend will be given next month to her once the next invoice comes in ?

[yokie]

Hi Vikas,

I too am trying to get information on how I should prepare for my next extension / ILR as I am going to open a limited company.

Where you in uk?

[vikasbirla]

I am in London.

I am going for Tier 1 extension and not much aware of ILR rules right now, but if you are going for a Ltd company, then there is no problem, you just have to be careful that you are satisfying the income criteria if there is any.

Can anyone please guide me about the questions I asked above.

Thanks