| View previous topic :: View next topic |
| Author |
Message |
chiba Junior Member
Joined: 14 Jul 2012 Posts: 24
|
Posted: Mon Jul 23, 2012 1:12 pm Post subject: Financial Requirements |
|
|
Can someone explain the Financial requirements to
I understand that ...
Must earn at least 18600 per year
Must have been in employment for the last 6 months and have receipts
Need to show a letter of job offer from the company
But ...
What happens if the job you have is only temporary?
What if it's only a 12 month contract?
What happens if you're working through a recruitment agency? |
|
| Back to top |
|
 |

|
 |
SoHopeful Member of Standing
Joined: 16 Sep 2009 Posts: 229
|
Posted: Mon Jul 23, 2012 1:48 pm Post subject: |
|
|
| From what I have read, I believe a 12 month contract is acceptable. Hopefully someone else will confirm. |
|
| Back to top |
|
 |
harv Sage
Joined: 22 Dec 2010 Posts: 551 Location: London
|
Posted: Mon Jul 23, 2012 2:06 pm Post subject: |
|
|
Hi chiba
1) Are you a contractor?
2) working through an umbrella company (agency)?
3) working through a limited company?
If you can answer these questions above, we will be able to help you. _________________ 08/02/2012 - Application submitted to VFS New Delhi
13/02/2012 - Under process at BHC
21/03/2012 - Documents sent back to VFS
21/03/2012 - Documents ready for collection
22/03/2012 - Documents collected - VISA Granted!!! |
|
| Back to top |
|
 |
chiba Junior Member
Joined: 14 Jul 2012 Posts: 24
|
Posted: Mon Jul 23, 2012 2:11 pm Post subject: |
|
|
| I'm working on a 12month contract due to expire in September '12. If I accept another contract of 6 or 12 months, and apply for visa while working on the contract , do you think it would be accepted? |
|
| Back to top |
|
 |
harv Sage
Joined: 22 Dec 2010 Posts: 551 Location: London
|
Posted: Mon Jul 23, 2012 2:23 pm Post subject: |
|
|
How are you paying taxes? _________________ 08/02/2012 - Application submitted to VFS New Delhi
13/02/2012 - Under process at BHC
21/03/2012 - Documents sent back to VFS
21/03/2012 - Documents ready for collection
22/03/2012 - Documents collected - VISA Granted!!! |
|
| Back to top |
|
 |
chiba Junior Member
Joined: 14 Jul 2012 Posts: 24
|
Posted: Mon Jul 23, 2012 2:23 pm Post subject: |
|
|
| PAYE |
|
| Back to top |
|
 |
harv Sage
Joined: 22 Dec 2010 Posts: 551 Location: London
|
Posted: Mon Jul 23, 2012 2:24 pm Post subject: |
|
|
So, you are a contractor working through your limited company, right? _________________ 08/02/2012 - Application submitted to VFS New Delhi
13/02/2012 - Under process at BHC
21/03/2012 - Documents sent back to VFS
21/03/2012 - Documents ready for collection
22/03/2012 - Documents collected - VISA Granted!!! |
|
| Back to top |
|
 |
chiba Junior Member
Joined: 14 Jul 2012 Posts: 24
|
Posted: Mon Jul 23, 2012 2:28 pm Post subject: |
|
|
| No, all tax is handled by my employer. I receive a payslip every month and tax is taken automatically. I have a P60 and payslips. |
|
| Back to top |
|
 |
harv Sage
Joined: 22 Dec 2010 Posts: 551 Location: London
|
Posted: Mon Jul 23, 2012 2:32 pm Post subject: |
|
|
Okay, so you are employed on a contract basis (12/6 months).
As far as I can tell, you need to show the following:
P60 (Latest and previous if possible as well)
Payslips
Employer reference letter (containing any future contract period)
Your previous contract and the recent one (showing it has been renewed)
The above will help establish that the contract you are working with your employer is renewable and you have already been renewed once on it.
Hope this helps. _________________ 08/02/2012 - Application submitted to VFS New Delhi
13/02/2012 - Under process at BHC
21/03/2012 - Documents sent back to VFS
21/03/2012 - Documents ready for collection
22/03/2012 - Documents collected - VISA Granted!!! |
|
| Back to top |
|
 |
chiba Junior Member
Joined: 14 Jul 2012 Posts: 24
|
Posted: Mon Jul 23, 2012 2:40 pm Post subject: |
|
|
Thanks for your advice
Hope these new regs get over-ruled. |
|
| Back to top |
|
 |
chiba Junior Member
Joined: 14 Jul 2012 Posts: 24
|
Posted: Mon Jul 23, 2012 9:30 pm Post subject: |
|
|
| what happens if I just temping through an agency? there's no permanency with that kind of job, would they accept it? |
|
| Back to top |
|
 |
harv Sage
Joined: 22 Dec 2010 Posts: 551 Location: London
|
Posted: Tue Jul 24, 2012 8:27 am Post subject: |
|
|
When you say through agency, you have the following two options:
1) Use the agency as Umbrella company (Employed) - almost the same thing you are doing now, all your taxes and NI contributions are paid by the agency and you get the NET income.
2) Through your own Limited company (Self Employed) - you then invoice your employer and take care of all other things i.e. PAYE, NI, expense, Corporation tax etc.
The first option (same as your current situation) is easy to manage in terms of, you provide the payslips and other evidence and all is good.
The second option, you need to provide company accounts from your accountant and other bits of information on finances in the company as well as your declared pay to HMRC (Salary + Dividends).
Hope this helps. _________________ 08/02/2012 - Application submitted to VFS New Delhi
13/02/2012 - Under process at BHC
21/03/2012 - Documents sent back to VFS
21/03/2012 - Documents ready for collection
22/03/2012 - Documents collected - VISA Granted!!! |
|
| Back to top |
|
 |
chiba Junior Member
Joined: 14 Jul 2012 Posts: 24
|
Posted: Thu Aug 16, 2012 2:39 pm Post subject: |
|
|
Hi all,
I wonder if someone could give me some advice
I am unclear about whether I need to have a PERMANENT job or if a contract is fine. Now I am working on a 6 month contract and previously I was working on a 12 month contract. I have looked at the financial requirements and they just say to state the type of work you have, permanent , contract,... They don't make it clear what you must have. how am I supposed to find this out?
Let's say I am working on 6 month contract and my "wife" applies for a spouse visa, how do I know if this will be accepted since the job will most likely finish when the 6 month period is up. Obviously I would find another job towards the end. |
|
| Back to top |
|
 |
chiba Junior Member
Joined: 14 Jul 2012 Posts: 24
|
Posted: Tue Aug 21, 2012 8:18 pm Post subject: |
|
|
BUMP!
any ideas about this?
In my situation
Mar 2011 - Sep 2011 6 month contract @18.5k PA
Sep 2011 - Sep 2012 12 month contract @21k PA
Sep 2012 - Mar 2013 6 month contract @ 25k PA
My contract could be extended..but I won't know until next year
We want to apply for her spouse visa in April 2013
What should we do? Push it forwards and get the visa now? |
|
| Back to top |
|
 |
sushdmehta Moderator
Joined: 17 Mar 2006 Posts: 21252 Location: does it matter?
|
Posted: Tue Sep 25, 2012 12:25 pm Post subject: |
|
|
| Annex FM 1.7 wrote: | | Employment can be permanent, a fixed-term contract or with an agency. |
Also read 5.5. _________________ Life isn't fair, but you can be! |
|
| Back to top |
|
 |
SoHopeful Member of Standing
Joined: 16 Sep 2009 Posts: 229
|
Posted: Tue Sep 25, 2012 7:37 pm Post subject: |
|
|
So ECOs are not looking at months ahead, just that you meet the requirements for the PREVIOUS 6-12 months depending on your circumstances?
@Chiba - personally I would apply now if you are able to, so atleast you can show your employment will continue in the short term. |
|
| Back to top |
|
 |
|