Cash savings as Limited Company Director.

ViQuestion111 · Post by **ViQuestion111** » Mon Nov 12, 2018 10:53 pm

Hi All, I am applying for my spouse's spouse visa. I am a director of a limited company. To get to the 62,500 savings, I withdrew dividends from my company in March/April this year. What evidence do I need to proof where I got my savings from, please? Do I have to submit EVERYTHING which other directors should submit under category F? Accountants letter, accounts, CT600, dividend vouchers, payslips, proof of tax submission, etc?

I have everything but my accountants letter does not correspond to my CT600 period and instead, covers the last 12 months (up to 31st Oct 2018). Will this be a problem? My accountant did sign my last year's unaudited accounts (One year ending 31st April 2018).

The accountants letter covers my dividends withdrawn in March/April which was mainly used for savings. Will this be enough? The requirements under category F says they need an 'accountants certificate' with the unaudited accounts. Should all of this be submitted for category D, too?

Londoner007 · Post by **Londoner007** » Mon Nov 12, 2018 11:10 pm

I presume you will apply under CAT D cash shavings only. So, in that case all you need to show is perhaps bank statement showing the bank transaction of the dividends going into the account you are relying upon.

ViQuestion111 · Post by **ViQuestion111** » Mon Nov 12, 2018 11:27 pm

Londoner007 wrote: ↑
Mon Nov 12, 2018 11:10 pm
I presume you will apply under CAT D cash shavings only. So, in that case all you need to show is perhaps bank statement showing the bank transaction of the dividends going into the account you are relying upon.

Thank you, Londoner007. But I read somewhere that somebody was rejected because they did not provide their company's accounts. But I don't really trust that source because their solicitor advised them to get another job and work for 6 months after the refusal. If everything was above board, I don't think the advice will be to 'get another job and delay everything for 6 months'. It will probably be to submit the missing info when reapplying immediately.

Have you every dealt with anybody being a director and went the cash route? It seems that a few people have asked the question but nobody ever comes back with an answer.

Londoner007 · Post by **Londoner007** » Tue Nov 13, 2018 2:11 pm

Do not go by what someone said or what someone thought. Follow the FM-SE Appendix guide. It clearly states trail of source of income needs to be shown.

So what I would do to prove source funds is, is show where money came from and where it went. I.e. bank statements showing leaving from Dividends account and entering the savings account. You can also get accountant / bank letters confirming transaction.

Your statement can be simple, such as " I declare that the sum of £62,500 held in my Barclays Savings account since 21 August 2017, is derived from the dividends from xxxxxxxx xxxx xxxxx ". I include bank statements detailing the transfer and also bank letter confirming this. I also include for you last 6 months bank statements for your attention.

I also confirm that this savings account is instantly accessible to me and under my full control".

- something like that.

KVP · Post by **KVP** » Fri May 24, 2019 7:37 am

Hi ViQuestion111 (or anyone in similar situation),

or Any senior member, or friends can give me guidance. Many thanks and grateful for your time.

I would like to know how you did it with respect to additional document to prove source of Cash.
I got the same questions like you. I could not find any forum member who got success by using Category D, but being Directory of his/her own limited company. Also not sure what they submitted to prove source of funds in this case.

I will be applying using this category D in few days (before visa expires on 15 Jun for my spouse and 1 kid). However I will not have CT600, unaudited accounts, etc, because my company annual year falls at end of June.

However I can get dividend vouchers, salary slips for current running year 2019.
salary or any other documents for last year 2017-2018.

So I got great confusion whether to submit many other additional documents to prove source of this cash. Will this confuse caseworker?

I am afraid that caseworker could refuse saying like "you submitted additional doc X, but you did not submit doc Y which relate to X"

or will the declaration just be enough stating that I am happy to provide more document, if required?

P.S: I have the required cash savings circa 76k for last 6 months only. i.e. I transferred dividend amounts just at the end of Oct2018 to cover shortfall amount.

I did some transactions periodically (including remittance to India, like 2k, 3k, etc,.) but the amount never fell below 76k till today.

What I current have:
1) I got bank statements (just single statement to cover from 01-Nov-2018 to 20-05-2019) which shows the least amount, 76k on 01-Nov-2018;
2) Declaration for source of funds

What must I submit additionally:
Anyone who have gone through or have answers can guide me please.

Kind regards

CR001 · Post by **CR001** » Fri May 24, 2019 9:15 am

KVP wrote: ↑
Fri May 24, 2019 7:37 am
Hi ViQuestion111 (or anyone in similar situation),

or Any senior member, or friends can give me guidance. Many thanks and grateful for your time.

I would like to know how you did it with respect to additional document to prove source of Cash.
I got the same questions like you. I could not find any forum member who got success by using Category D, but being Directory of his/her own limited company. Also not sure what they submitted to prove source of funds in this case.

I will be applying using this category D in few days (before visa expires on 15 Jun for my spouse and 1 kid). However I will not have CT600, unaudited accounts, etc, because my company annual year falls at end of June.

However I can get dividend vouchers, salary slips for current running year 2019.
salary or any other documents for last year 2017-2018.

So I got great confusion whether to submit many other additional documents to prove source of this cash. Will this confuse caseworker?

I am afraid that caseworker could refuse saying like "you submitted additional doc X, but you did not submit doc Y which relate to X"

or will the declaration just be enough stating that I am happy to provide more document, if required?

P.S: I have the required cash savings circa 76k for last 6 months only. i.e. I transferred dividend amounts just at the end of Oct2018 to cover shortfall amount.

I did some transactions periodically (including remittance to India, like 2k, 3k, etc,.) but the amount never fell below 76k till today.

What I current have:
1) I got bank statements (just single statement to cover from 01-Nov-2018 to 20-05-2019) which shows the least amount, 76k on 01-Nov-2018;
2) Declaration for source of funds

What must I submit additionally:
Anyone who have gone through or have answers can guide me please.

Kind regards

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