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ILR after Tier 1 Exceptional Promise Financial requirements

Only for queries regarding Indefinite Leave to Remain (ILR). Please use the EU Settlement Scheme forum for queries about settled status under Appendix EU

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Altovka
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Joined: Sat Sep 25, 2021 8:27 pm
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ILR after Tier 1 Exceptional Promise Financial requirements

Post by Altovka » Sat Sep 25, 2021 9:04 pm

Hello,

I would really love to hear from someone who has recently had success with an ILR application via Tier 1 Exceptional Talent route, especially those who are self-employed and had no solicitor and accountant involved.

For the background: I have been in the UK for almost 5 years on Tier 1 Exceptional Promise visa and soon will be able to apply for ILR. Finances wise I have been self-employed (sole trader) and have been doing my taxes myself. I am pretty sure I have all needed documents, but I am confused with the financial evidence part; it states that if you have worked in a self-employed capacity, you can provide one of the following documents:

• A letter from your accountant (confirming the amount you have earned): This letter should be
on headed paper and confirm the gross and net pay for the period to be assessed. The letter
should give a breakdown of salary, dividends, profits, tax credits and dates of net payments
earned. If your earnings are a share of the net profit of the company, the letter should also
explain this. All accountants must be either fully qualified chartered accountants or certified
accountants who are members of a registered body in the UK.

• Company or business financial accounts: These must clearly show the net profit of the
company or business. Accounts must show both a profit and loss account (or income and
expenditure account if the organisation is not trading for profit) and the balance sheet should
be signed by a director. Accounts should meet statutory requirements

Now, obviously, I don't have an accountant at the moment. Do I have to have one? If I use one's services, what period must their letter cover - all 5 years of my qualifying period? And would they be legally able to cover all these 5 years if I get myself an accountant next month?

In case I supply my financial accounts - does anyone know what those statutory requirements are or where I can find these to double check my accounts meet these? And may I sign these myself? As I am a self-employed sole trader my business doesn't have a director, so would my sign count as director's?

Also, does anyone know how to get approval, registration or stamp from HMRC?
It says it's possible to supply a document produced by a person, business, or company as an official return to HMRC, showing details of earnings on which tax has been paid or will be paid in a tax year: this must have been approved, registered, or stamped by HMRC
I have those copies of my tax returns that you get online after submitting your self-assessment form and say they are copies only and not to be sent to HMRC - I suppose these wouldn't count if I just print them out?

I am going to supply them with all my bank statements, some P-60s that cover a little bit of my income and lots of letters from different organisations I have done work for over the years saying how much and when they paid me and what sort of business they are and what sort of work I have done for them (as proof that I have been working in my field)

Sorry about the long post and if any of my questions double any that have been previously asked - I thought I would ask them again since the rules seem to change with the speed of light these days!

Any advice or information would be greatly appreciated!

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zimba
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Re: ILR after Tier 1 Exceptional Promise Financial requirements

Post by zimba » Sun Sep 26, 2021 11:48 pm

Tier 1 Exceptional Talent/Promise route does NOT exist anymore as it was replaced by the Global Talent Visa route in Feb 2020. You are applying for ILR under these new rules. For ILR, you do NOT need to provide any proof of finances:

indefinite-leave-to-remain/ilr-from-any ... l#p1990369
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

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