Should child be listed as dependent?

Hi guys, I had a couple of queries I'm praying someone can help me with... as I'm really getting stuck

I'm not really sure how to meet the financial requirement.

I'm a diretor of a ltd company, so I am relying on self employed income, and this is a SET(M) application.

My last full company year is Aug 2017 - Aug 2018.

My self assessment during this period is from Apr 2017 - Apr 2018 (so essentially Apr 2017 through to Aug 2017 was employment income, and Aug 2017 to Apr 2018 was self employment income).

My self assessment for this period is above the threshold, so where the ILR form asks 'What was the income (in GBP) from self-employment in the last financial year?', I do not know how to answer, is it simply the TOTAL combined figure off of this Self Assessment, which would include both self employment / employment?? or should be ONLY the monies received from self employment income?

I met the requirement that year for the combined income of self employment and employment, but not self employment alone.


Now my self assessment for Apr 2018 to Apr 2019 tells a much different story, as it is ONLY self employment and I have met threshold via company dividends and have also taken around 11k in Salary over the year, however I cannot file the company year end accounts till the end of August 2019 which is actually past the deadline for ILR filing, so is not an option.


Could these timelines be any more tricky?!

Many thanks to anyone who can shed a bit of light on this situation.

OR maybe I'm getting too caught up on my Self Assessment for period 2017-2018 when infact only 2018-2019 is important?

Is it only necessary to show the financial requirement threshold was met in the last self assessment? I'm potentially getting a bit blind-sided that there is so much emphasis on the companys last full accounts that I'm worrying about my self assessment for that period too.

Is it that important what the company/myself earned during the last financial year, and more so that the books and payments to myself are all verifiable and accountable?

Thanks
Phil

Just wondered if there is anyone with some insight here? perhaps anyone else having gone down the self-employed route?

Thanks
Phil

Hi guys,

I wondered if anyone could help with a query I have, I'm really confused on meeting the financial requirements and quite worried as my VISA filing deadline fastly approaches next month.

I must submit my last financial year of accounts (CT600) which is Aug 17 - Aug 18.

On these accounts I did not pay myself in salary nor dividends over the threshold through the company, as I just saved money in the company.

However I meet the threshold on my self assessment for April 17 - April 18 (from a mixture of employment and self employment), and also April 18 - April 19 (from just self employment).

Couple of questions, hopefully someone... anyone.. can assist me a bit here, my eyes are red going over the requirements and it seems a complete minefield going down the self employed route.


1) Is it a requirement that in my companies last tax year I must have paid myself over the threshold, the money was in the company bank account just never paid to myself during the company tax year.

2) Which Self Assessment is relevent for this Aug 17 - Aug 18 period, as it spans two tax years (Apr to Apr).

3) My company tax year doesn't have 12 months of bank statements, in fact I registered the company 3 months before opening a bank account as I was not trading, do they have me on a technicality that my first tax year doesn't have 12 bank statements?

4) on the following quote from appendix:

9.3.6. Income under Category F or Category G can be combined with income from salaried and non-salaried employment, non-employment income and pension income in order to meet the financial requirement. However, unlike with other Categories, these sources of income must fall within the relevant financial year(s) in order to be included. Under Category F or Category G, all sources of income must fall within the financial year(s) relied on and must still be a source of income at the time of application.

Everything makes sense till the last part, does the Salaried income need to be still relied upon in the last 12 months as it would be relied upon in the last company tax year? It’s worded really confusingly


5) Has anyone ever tried moving company year end date forward in order to produce a more recent tax year? It would however be shorter than 12 months... just a thought.

Over 240 views and no replies to anything -- yep, I'm not entitled to anything here, sorry, just it's so disheartening when nobody has a word of anything to add.

I've paid for a solicitor tomorrow who will hopefully make these things a whole lot clearer, my gut feeling is that I will have to wait 2 months in order to file my latest CT600, and thus my wife and baby having to leave the UK, back to Ghana whilst I can get my latest accounts sorted.

And I thought I was doing the right thing by living on a breadline - taking no profits... working 18 hour days in order to get my business operational in year 1, look where it got me, but that's UK law, right? Just another slave to the state.

Soon as I find out more info I'll provide as much detail as possible for the next guy.

Thanks
Phil

You are right it's a very complex route for self employment unfortunately and I'm in similar route , but for spouse entry clearance.

Yes, self employment will be considered for latest CT period in your case Aug2019, and expected to pay yourself salary or dividends. You have 2 months time to pay yourself divendend or salary and declare in CT600. And submit CT acknowledgement from HMRC.

Ref to short of bank statement, I have the same issue, I opened business account after one month of company registration, one month short, but friends said , its ok, if they match CT period. But guidance says business statements with in 12 months of CT. Im bit puzzled in this regard..please let me know your solicitor says, would be much appreciated.

OK, so a bit more clarity from solitor today.

I was advised to have the mindset that my LTD company is a seperate person, my boss for example.

In 2017-2018 my income was from two employers, my own company as well as my salaried income from previous job. I met threshold in that tax year, just my proof on this will be from wage slips (both jobs), bank statements covering the period, p60 (if you have), and the self assessment form/calautions/any letters from HMRC with your UTR reference on further boldens it's genuine.

In 2018-2019 I only received a salary from my company, and met threshold with dividends included, so again wage slips, bank statements, all the above.. and company issued dividend vouchers too.

Same applies for wife who has equal share of dividends, so vouchers for her and bank statement to correlate.

Now (person 3, i.e, my limited company), this entity should prove the movement of money and dates with bank statements, so that is wages, dividends, allocated for the exact amounts to the correct accounts, as well as all the other company documentation, such as CT600, company registration certificate, current appointments statement, VAT certificate, any HMRC letters further prove legitimacy even if they aren't explicity asked for, and another important thing is getting your accountant to vouch for filing dates, and confirmation backing up the paperwork you're providing to the home office, ensure your accountant is part of a major accounting body like ICAEW for credability.

Finally... write a cover letter summing up all these documents provided and reiterate your earnings and how you calculate them to meet the threshold, be quite specific.

I will get all my documents ready and make a detailed post including every document I put together for the financial requirements going down the self employed route, there is simply not enough clear information IMHO on this route.

Also if you physically cannot show 12 months of statements, as your company didn't have a bank account for the whole period then it's completely understandable. It's not possible to open a business bank account without company registration documents, which means every company in theory for year first year would struggle to provide 12 months of statements dated from exactly when the company was registrated when you factor in the time it takes to get your registration documents through, to opening a bank account, how could it?! Hope logic makes sense here.

Phil

Thanks for sharing Phil, much helpfull..
Why do you want to submit 2017-2018, when you meet requirement in 2018-2019. Latest year is enough isnt. Ref to Limited company documents, what do you mean by company appointments statement Please?

Sorry for late reply,

The current appointments document is found on companies house, you can find it by searching for your company and downloading it, it should be free.

You're probably right on the financial requirement 18-19 been enough, and I am not going down the route of an average of 2 years, I am however going to just include my statements and payslips for the whole 24 period, and explain in a cover letter that I was unsure, to be honest I just don't wanna leave things to chance, and solicitor even advised me to send 2 years of statements.

That's probably something that would yield different answers from different solicitors, however a few extra docs won't hurt to strengthern the case I suppose.

As another note, I have highlighted all dividends and wage payments in all 3 statements (company, me and wife) to make obvious as possible the transfer of money.

I have also retrospectively done dividend vouchers (you can get a template online or from accountants usually)

All the best!

Hi guys,

Quick question...

Must our child be listed as a dependent on our VISA Application? Child was born in the UK, with UK birth certificate to me (british since birth), and my wife who is applying for her SET(m) ILR?

Surely would not need to be a dependent?

Thanks
Phil