Spouse visa extension as a company director

Hi,
I am seeking an advice in regards to my wife extension visa which is due in June 2020. Her visa expires on 26th June 2020.
So my question is I am a director of company and only shareholder as well. I draw a salary of £1200 gross every month. My company is registered for PAYE AS well. My company made a loss in last accounting year. This company has been trading for over 2 years and I have two full year of accounts and I also have copy of CT600 for both the year. The first year was a loss of £400 and the second year is a loss of £13000
I have not withdrawn any dividend but paid myself salary regularly.

So, would this be a problem when we apply for our visa as I am paying myself a salary regularly and company went on loss.

My wife on the other hand also works for another company and makes Over £10000 annually. If we combine both of our salaries we are well above the threshold requirements.
Also one of the month on July 2019, I have issued payslip and paid myself as cash and has not transferred into bank account.

I will be really grateful if anyone of you could help me with some suggestion as I am worried that because my company made loss, my salary may not taken as income

As a first step, I would suggest reading section 9 of the guidance document linked below (from page 60) very carefully as it discusses how to meet the financial requirement using income as the director of a company you own. Whether your company made a profit or a loss is not particularly relevant as far as I am aware. However, if you have paid yourself cash and this was not deposited into your personal bank account I suspect this amount could not be used towards the financial requirement as the specified evidence (i.e. an associated bank statement), could not be provided. Note also that only the income your wife received during the same period covered by the financial year(s) you are using for your salary as a company director can be used towards the financial requirement.

https://assets.publishing.service.gov.u ... -ext_1.pdf

Hi, thank you for your advice. And yes my wife has earned similar amount at the time of financial year of the company, so this wont be an issue.

And even if they did not take into account of the one Of the payment that was not transferred to my personal account, we should easily cross the threshold.
So the fact that company made loss wont be issue as we have been paying tax and NI.

Lastly, our company financial year ends at 31st August 2019 and we will be making application on June 2020. I read some where that if the date of application is more than 3 month after the financial year end, then we will need to submit a management accounts. Is this true?? As i am still running they and will be drawing salary at the time of application as well and will be able to submit payslips and statement

Any advice will be much appreciated.

Sudipdc wrote: ↑

Wed Feb 05, 2020 1:12 pm

I read some where that if the date of application is more than 3 month after the financial year end, then we will need to submit a management accounts. Is this true??

You need to submit all of the supporting evidence specified in the guidance document.

Than you very much for your reply.

All my payslip do match to the payment and are paid at the correct time as well.

My only question is does the fact that the company made loss affect my application.
Like i have mentioned, I have not withdrawn any dividend and paid myself regularly but the company made loss.

Any help or advice please??

Sudipdc wrote: ↑

Wed Feb 12, 2020 1:28 pm

My only question is does the fact that the company made loss affect my application.
Like i have mentioned, I have not withdrawn any dividend and paid myself regularly but the company made loss.

The guidance document only discusses profits (and, correspondingly, loss) in relation to self-employment and not to companies so I don't think it should be relevant.

Thank you very much. That is little relief