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Hello All,

I will appreciate your help and feedback regarding the below question please?

What impact can claiming capital allowance have on visa application?

Example: £10,000 was submitted as profit (after deducting operational expenses) to the UKBA during visa extension but £9000 (i.e. minus £1000 capital allowance) declared to HRMC in tax return. Is this acceptable or would it be viewed negatively by the UKBA during ILR application?

I have asked a number of qualified accountants who have suggested this is acceptable in accounting practices.

Any thoughts/opinions/experiences please?

That has nothibg to do with you application as you have done the right thing and it explainable

igiosan wrote:Hello All,

I will appreciate your help and feedback regarding the below question please?

What impact can claiming capital allowance have on visa application?

Example: £10,000 was submitted as profit (after deducting operational expenses) to the UKBA during visa extension but £9000 (i.e. minus £1000 capital allowance) declared to HRMC in tax return. Is this acceptable or would it be viewed negatively by the UKBA during ILR application?

I have asked a number of qualified accountants who have suggested this is acceptable in accounting practices.

Hi,
Did you submitted your application. If yes then what was the outcome of the application?
Did anyone has any experience using Capital Allowances ?

igiosan wrote:Hello All,

I will appreciate your help and feedback regarding the below question please?

What impact can claiming capital allowance have on visa application?

Example: £10,000 was submitted as profit (after deducting operational expenses) to the UKBA during visa extension but £9000 (i.e. minus £1000 capital allowance) declared to HRMC in tax return. Is this acceptable or would it be viewed negatively by the UKBA during ILR application?

I have asked a number of qualified accountants who have suggested this is acceptable in accounting practices.

Hi
IMHO, this is competely acceptable. The only circumstances in which this will be considered negative is when there is significant amount of difference between the income shown to HO and the income declared to HMRC.

guaravd wrote:

igiosan wrote:Hello All,

I will appreciate your help and feedback regarding the below question please?

What impact can claiming capital allowance have on visa application?

Example: £10,000 was submitted as profit (after deducting operational expenses) to the UKBA during visa extension but £9000 (i.e. minus £1000 capital allowance) declared to HRMC in tax return. Is this acceptable or would it be viewed negatively by the UKBA during ILR application?

I have asked a number of qualified accountants who have suggested this is acceptable in accounting practices.

Hi
IMHO, this is competely acceptable. The only circumstances in which this will be considered negative is when there is significant amount of difference between the income shown to HO and the income declared to HMRC.

@ guaravd
What you call the significant ?
Could someone pl share their experience.

Thanks,

Example: Income showed to HO £10000 and then declared 40% less income to HMRC.

In the above example there is significant difference between the two income declared.

guaravd wrote:Example: Income showed to HO £10000 and then declared 40% less income to HMRC.

In the above example there is significant difference between the two income declared.

Thanks guaravd.

Any thoughts from Gurus?

Hi, it should not be an issue as the 12 months period mentioned while initial/extension does not necessarily falls as the tax year i.e. 6th apr - 5th apr. As long, you have not played with your income that you have shown to HO you should be fine. Tax computation is a complex activity which varies from person to person depending upon various other factors.