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MINIMUM EARNING REQUIREMENT for ILR- total earning or profit

Archived UK Tier 1 (General) points system forum. This route no longer exists.

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princepromise
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Posts: 6
Joined: Mon Apr 20, 2015 7:23 pm

MINIMUM EARNING REQUIREMENT for ILR- total earning or profit

Post by princepromise » Wed Apr 22, 2015 9:44 am

Hi all,

I really need your help and advise.

I will be due to ILR in August and not sure of the minimum earning requirement.
I also need to know if the requirement is the gross earning or the net (that is profit)

e.g for my case, my last year earning was £46,000 but the profit was about £12,000 which I paid tax on. I need to know which one will be used, is it the total earning or the profit

I also need to know the minimum for my case, I am 41yrs, with a family of 6 and with Masters degree, currently on Tier 1 General issued after April 2010 (June 28, 2010). Currently self employed- Sole trader- consultant

mickey007
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Posts: 35
Joined: Sun Nov 15, 2015 12:52 pm

Re: MINIMUM EARNING REQUIREMENT for ILR- total earning or pr

Post by mickey007 » Tue Nov 17, 2015 8:59 pm

For tier1 general the limit is on the amount on which the tax is due,

like in my case i am on 35K, it does not mean i show total 35K earning and out of 35K i show 12000 profit, the rest as expenses and only pay tax on 12000.

Your tax will be due on the amount which was required for you to show to HO at the time you got ur tier 1 general first time and extension.

This is my understand of the tier1 general rule. Someone more expert may shed light on it further.

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