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Financial requirement as director
Posted: Fri Jun 19, 2020 11:07 am
by Kdd123
Hi everyone
My wife is going to apply for ILR and i am a director of a limited company with salary which just started trading in march. However i read that i need to submit the annual account which i dont have yet. Can i just use my salary as director ? Thanks
Re: Financial requirement as director
Posted: Fri Jun 19, 2020 11:47 am
by Zerubbabel
Hello
If you just started trading in March 2020 (3 months ago), you won't be able to fulfil the financial requirements with that company yet.
https://assets.publishing.service.gov.u ... -ext_1.pdf
See from page 58. There are 2 categories for self-employed:
Cat F: income from the last FULL financial year
Cat G: Average income of the last 2 full financial years
You need to provide the tax return + 12-months accounting for the company (see page 60).
Re: Financial requirement as director
Posted: Fri Jun 19, 2020 4:53 pm
by zimba
Kdd123 wrote: ↑Fri Jun 19, 2020 11:07 am
Hi everyone
My wife is going to apply for ILR and i am a director of a limited company with salary which just started trading in march. However i read that i need to submit the annual account which i dont have yet. Can i just use my salary as director ? Thanks
No. Directors or self-employed people must submit their accounts or tax returns.