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Tier-2 General with Capital Gains and Self Assessment - ILR
Posted: Sun Oct 04, 2020 1:35 pm
by nomadicmigrator
Hi,
I'm on Tier-2 General and working for the same employer throughout the last 5 year period and looking to make ILR application soon. I made capital gains by selling stocks couple of years ago while being on Tier 2 General. Since the capital gains were above the personal allowance, I filed Self Assessment tax for that year and paid the capital gain taxes due.
Now I'm struggling to understand if selling those stocks and making the gains itself were against the Tier-2 rules? Will submitting this self assessment tax being employed will cause issues in the ILR applications. Is it fine to be a PAYE on tier-2 general and also have this additional income - which is not through additional employment or self employment considering it was investment gains realised than trading? Will this be seen similar to being PAYE on Tier 2 General and earning rental income (and i presume that rental income needs self assessment?)
Re: Tier-2 General with Capital Gains and Self Assessment - ILR
Posted: Sun Oct 04, 2020 9:42 pm
by nomadicmigrator
Searched through a lot and can't find any ilr application from tier 2 route who had paid capital gain taxes and submitted self assessment.
Any information regarding this will help me. Anyone who have gone through this or know the details?
Re: Tier-2 General with Capital Gains and Self Assessment - ILR
Posted: Mon Oct 05, 2020 12:55 am
by zimba
nomadicmigrator wrote: ↑Sun Oct 04, 2020 9:42 pm
Searched through a lot and can't find any ilr application from tier 2 route who had paid capital gain taxes and submitted self assessment.
Any information regarding this will help me. Anyone who have gone through this or know the details?
This is totally irrelevant to the Tier 2 rules. You are overthinking this.
Re: Tier-2 General with Capital Gains and Self Assessment - ILR
Posted: Mon Oct 05, 2020 8:15 am
by nomadicmigrator
Zimba wrote: ↑Mon Oct 05, 2020 12:55 am
nomadicmigrator wrote: ↑Sun Oct 04, 2020 9:42 pm
Searched through a lot and can't find any ilr application from tier 2 route who had paid capital gain taxes and submitted self assessment.
Any information regarding this will help me. Anyone who have gone through this or know the details?
This is totally irrelevant to the Tier 2 rules. You are overthinking this.
Thanks Zimba. Overthinking is coming from looking into some posts where shares and stocks are discussed in the tier 2 context and people are saying they are staying out of it to avoid any potential ILR issues. In many threads tier 2 and submitting self assessment itself is considered as a no-no.
So I guess when you say it is irrelevant, you are saying capital gain and self assessment in tier-2 is fine? It is the self assessment for "income" which is a problem
Re: Tier-2 General with Capital Gains and Self Assessment - ILR
Posted: Mon Oct 05, 2020 3:38 pm
by zimba
I suspect this may come from a misunderstanding that self-assessment often is filed by self-employed workers and company directors and that is all. However, self-assessment is filed for many many different other reasons (like declaring any rental income, capital gains, etc) which has nothing to do with Tier 2 rules restrictions on
employment.
Tier 2 rules ONLY prevent you from being employed by anyone other than your sponsor (with some exception for voluntary/supplementary work). Tier 2 migrants can have other
non-employment sources of income without any restriction.
This is clear under
paragraph 245HC(d) of the Immigration Rules Part 6A
(d) Entry clearance will be subject to the following conditions:
(i) no recourse to public funds,
(ii) registration with the police, if this is required by paragraph 326 of these Rules, and
(iii) no employment except:
(1) working for the sponsor in the employment that the Certificate of Sponsorship Checking Service records that the migrant is being sponsored to do, subject to any notification of a change to the details of that employment, other than prohibited changes as defined in paragraph 323AA,
(2) supplementary employment,
(3) voluntary work, and
(4) if the applicant is applying as a Tier 2 (Sportsperson) Migrant, employment as a sportsperson for his national team while his national team is in the UK, playing in British University and College Sport (BUCS) competitions and Temporary Engagement as a Sports Broadcaster, and
(iv) study subject to the condition set out in Appendix ATAS of these Rules where the applicant is 18 years of age or over at the time their leave is granted or will be aged 18 before their period of limited leave expires.
Re: Tier-2 General with Capital Gains and Self Assessment - ILR
Posted: Mon Oct 05, 2020 9:31 pm
by nomadicmigrator
Thanks Zimba for detailed response. Very helpful indeed.