FLR(M) - Limited Company income

Hi there,

My wife is applying for an FLR(M) visa with me (on ILR) as her sponsor. I am director of my Limited Company paying myself salary and dividends.

For the question, "Amount of income from this source" under "Income from self-employment", what is the amount I need to enter? Is it,

(a) Gross Profit (i.e. Turnover, or Total sales), OR
(b) Profit before Taxation (i.e. Turnover minus Expenes),
(c) Net Profit for the Financial Year (i.e. Profit after Corp Tax deducted), OR
(d) Simply the total of the gross Salary + gross Dividends I have paid myself during this Fin Yr.

In any of the above cases I clear the threshold of £18,600. Just trying to be accurate. Thanks.

Can anyone help with this? Our appointment is coming up next week... thanks.

I would have thought your salary + Dividends, but I am in a similiar position to yourself and no expert

How did you decide that your Limited Company was not a "specified limited company"?

I am thinking gross salary + gross dividends as well.

It is a specified limited company. Only when it is a specified limited company can you apply under category F or G. Extract from guidance notes:

The specified type of limited company is one in which:
(i) the person is a director of the company (or another company within the same group);
and
(ii) shares are held (directly or indirectly) by the person, their partner or the following
family members of the person or their partner: parent, grandparent, child, stepchild,
grandchild, brother, sister, uncle, aunt, nephew, niece or first cousin; and
(iii) any remaining shares are held (directly or indirectly) by fewer than five other
persons.

theroyale wrote:Hi there,

My wife is applying for an FLR(M) visa with me (on ILR) as her sponsor. I am director of my Limited Company paying myself salary and dividends.

For the question, "Amount of income from this source" under "Income from self-employment", what is the amount I need to enter? Is it,

(a) Gross Profit (i.e. Turnover, or Total sales), OR
(b) Profit before Taxation (i.e. Turnover minus Expenes),
(c) Net Profit for the Financial Year (i.e. Profit after Corp Tax deducted), OR
(d) Simply the total of the gross Salary + gross Dividends I have paid myself during this Fin Yr.

In any of the above cases I clear the threshold of £18,600. Just trying to be accurate. Thanks.

What if company have not done any tax return as it's not due and director of company have been paid salary since last six month which is higher then £18600. Can this salary be counted as Maintenance fund for FLR M.

Hi ,
I am in the same boat....it looks like that ours is a specified limited company. But i am self employed as well as director of limited company. And i have earnings from self employment as well. But the problem is you can not combine earning as director with earnings from self employment.

What i am not sure is whether a director can only rely on self employment earning (the earnings which have not been earned from same limited company)

roadhouseblues wrote:

theroyale wrote:Hi there,

My wife is applying for an FLR(M) visa with me (on ILR) as her sponsor. I am director of my Limited Company paying myself salary and dividends.

For the question, "Amount of income from this source" under "Income from self-employment", what is the amount I need to enter? Is it,

(a) Gross Profit (i.e. Turnover, or Total sales), OR
(b) Profit before Taxation (i.e. Turnover minus Expenes),
(c) Net Profit for the Financial Year (i.e. Profit after Corp Tax deducted), OR
(d) Simply the total of the gross Salary + gross Dividends I have paid myself during this Fin Yr.

In any of the above cases I clear the threshold of £18,600. Just trying to be accurate. Thanks.

What if company have not done any tax return as it's not due and director of company have been paid salary since last six month which is higher then £18600. Can this salary be counted as Maintenance fund for FLR M.

Thanks mate for your question. I am not sure about this and still inquiring information about this. As soon as i have update i will let you know

[quote="roadhouseblues"]

What if company have not done any tax return as it's not due and director of company have been paid salary since last six month which is higher then £18600. Can this salary be counted as Maintenance fund for FLR M.[/quote]

Hello, does any one has an answer to roadhouse blue question above? I am going through similar now and I will appreciate any info. Thank you.

Hello,
I am in the same situation. My wife and child need to apply at the same time. We are both taking salaries from limited company. total salary is above £22400.

Do we still need company tax returns etc?

Regards