Self employment:payment from my personal Acc to business Acc

[karthik_513]

Hi All,

I am going to apply for tier 1 general in a weeks time.

On my self-employment earning - i have made 3 payments (For 100 pounds, 100 pounds and 50 pounds) from my personal account to business account, the reason i made it was because i received above payments as CASH ON HAND and instead of depositing to my business account, i spend the cash but transfered it from my personal account for tax purpose.

My question is : Whether the above issue is a problem when i claim the above payments for my pervious earning.

Also I have generated invoices to the clients who paid the above payments and if HO calls for verification, my clients will confirm my work.

Please note without including the above payments I cannot reach the required earning band for my tier 1 application.

Your reply is very much appreciated.

Thanks in advance.

[Celtic]

As you are depositing cash by yourself, you can't use bank statements for those earnings, hence HO will not be able to corrorberate your earnings from two sources.

[karthik_513]

thanks for your reply.

From your comments do you mean: I cannot include the 3 payments(mentioned on the above post) for my previous earnings.?? even though i have generated the invoices for the all the 3 payments.

***Please note: I took the payment(cash on hand) from my clients, spent it but in order to pay the tax for the payments received i credited the same amount from my personal account to business account.***

Can you please comment whether i can include the 3 payments(above) for my self-employment earnings or not???

Thanks once again!!!

[Sushil-ACCA]

Hi All,

I am going to apply for tier 1 general in a weeks time.

On my self-employment earning - i have made 3 payments (For 100 pounds, 100 pounds and 50 pounds) from my personal account to business account, the reason i made it was because i received above payments as CASH ON HAND and instead of depositing to my business account, i spend the cash but transfered it from my personal account for tax purpose.

My question is : Whether the above issue is a problem when i claim the above payments for my pervious earning.

Also I have generated invoices to the clients who paid the above payments and if HO calls for verification, my clients will confirm my work.

Please note without including the above payments I cannot reach the required earning band for my tier 1 application.

Your reply is very much appreciated.

Thanks in advance.

over all cash amount r small should not be issue if u have proper cleint and ready reply HO IF NEEDED