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FLR-M Financial Requirements in-between Jobs - Urgent Deadline soon

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Shadow2505
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Joined: Sat Jul 18, 2020 2:58 am
Nigeria

FLR-M Financial Requirements in-between Jobs - Urgent Deadline soon

Post by Shadow2505 » Fri Apr 02, 2021 7:38 pm

Hi Friends,

Firstly, thank you all for this forum, it's an amazing place doing lots of good. I do need your advice however.

I covet your advice on how we should approach filling out this finances area of the FLR_M form.

I'm in-between Jobs. I also happen to have my own registered company, though I do not make any money from it.
In the last year, I earned 49,000 and upon leaving my Job in Feb, I got a redundancy payment of 16,000 (It was a voluntary redundancy) - of which 10,000 remains.
Given that I am currently unemployed, I'm at a loss at what to put in the in the finances section that will ensure I qualify for the financial requirements.

- I can put in that I am a director, but I have no earnings from my company.
- I can put in my last Job but given that I do not currently have it, it would obviously be an issue.
- I could leave it blank, but this feels really wrong to me.

An extreme option is to ignore the application all together and leave the country with my wife until I am ready to restart my new Job and put in a new application. We plan to move to Ireland in the short term so will not be applying for ILR.

(Finished Feb 26 and starting new Job April 15, Expiry for current LTR is April 10th).
Left previous Job due to Voluntary Redundancy made available b/c of COVID cuts

Any advice most appreciated.

walker
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Posts: 133
Joined: Tue Mar 22, 2016 8:59 pm
Location: UK
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Palestine

Re: FLR-M Financial Requirements in-between Jobs - Urgent Deadline soon

Post by walker » Tue Apr 13, 2021 4:00 pm

Changes to the minimum income and adequate maintenance requirement
If you’ve experienced a loss of income due to coronavirus up to 31 May 2021, we will consider employment income for the period immediately before the loss of income, provided the minimum income requirement was met for at least 6 months immediately before the date the income was lost.

If your salary has reduced because you’re furloughed we will take account of your income as though you’re earning 100% of your salary.

If you’re self-employed, a loss of annual income due to coronavirus between 1 March 2020 and 31 May 2021 will usually be disregarded, along with the impact on employment income from the same period for future applications.

see: https://www.gov.uk/guidance/coronavirus ... -residents

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