Repayment of Directors Loan in 2.5 Months

[stek]

Could it be something to do with him earning a minimum wage for visa or other regulations?

Also a question. You mention 17k from 2012-2013. Have you taken this money out? Or created the dividend paperwork? Am not understanding why dividends from a previous year are still in the bank and being accounted for in a previous tax year? What is the score there then?

I think the earnings requirement for PSW visa was £20k, my missus had one....

Very piscean this one...

[stek]

Out of interest exactly what Visa did you apply for? We don't have a clue about visas so not understanding this CAT business. PSW is a post study working one? Thought they closed those in 2012? Could you explain clearly?

PSW was a two year visa, which cannot be extended unless switching to Tier 1 visa, Tier 2 having gone. CAT is just Category.

[northernladuk]

PSW was a two year visa, which cannot be extended unless switching to Tier 1 visa, Tier 2 having gone. CAT is just Category.

So what has he applied for or got?

[stek]

So what has he applied for or got?

I think he studied here, went on PSW visa after that, then switched into Tier 1 Entrepreneur and is currently on that leave.

Has to employ two people to be able to extend further, can't be contractors either.

[KickAss]

Out of interest exactly what Visa did you apply for? We don't have a clue about visas so not understanding this CAT business. PSW is a post study working one? Thought they closed those in 2012? Could you explain clearly?

I applied for Tier 1 Entrepreneur Visa Cat D. This is only for those who hold valid PSW.
I had more than 6-7 months left on that visa, but I wanted to get a Tier 1 E visa and work only for my company.
The limitation with T1E is that I can only work for my company and nothing else. Where as the PSW I had allowed me to do any job that I wanted.
On T1E via CAT D we have to work on skilled jobs, each skilled job is divided by HMRC in SOC code. any PSW switching to T1E must do > NFQ level4 job.
For example, Software Development is a NFQ level 6.

[KickAss]

Could it be something to do with him earning a minimum wage for visa or other regulations?

Also a question. You mention 17k from 2012-2013. Have you taken this money out? Or created the dividend paperwork? Am not understanding why dividends from a previous year are still in the bank and being accounted for in a previous tax year? What is the score there then?

It might be coz my company was started last year August. I was working as a permanent employee with a company and started contracting in August. Is that something to do with new startups ? Coz my accountant did my self assessment last month and told that I have to pay remaining SA tax by Jan 2014.(Which is few hundred Quid).

[northernladuk]

Wow. I am confused. So you currently here on a Tier 1 Entrepreneur Visa and you have been working as a perm and now as a contractor under that visa?

Where is the 17k from 2012/2013 year?

[Martin at NixonWilliams]

It might be coz my company was started last year August. I was working as a permanent employee with a company and started contracting in August. Is that something to do with new startups ? Coz my accountant did my self assessment last month and told that I have to pay remaining SA tax by Jan 2014.(Which is few hundred Quid).

I cannot see why those circumstances would result in a salary of £12,000 being paid.

Did your accountant not explain the reasons behind their recommendation?

[northernladuk]

I cannot see why those circumstances would result in a salary of £12,000 being paid.

Did your accountant not explain the reasons behind their recommendation?

He wouldn't be a friend or an accountant that specialises in companies run by people on Visa's per chance?

[Martin at NixonWilliams]

He wouldn't be a friend or an accountant that specialises in companies run by people on Visa's per chance?

Maybe!

I doubt it has anything to do with the salary paid though, we assist our clients with their Visa applications every day and, despite the many inconsistencies we see in the requirements, the salary level is not one of them.