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Net pay mismatch on Payslip and bank statements

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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ravief14
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SET (M) - Ltd company director full financial year query

Post by ravief14 » Fri Apr 16, 2021 1:01 pm

Hi

I am in the process of making ILR application for my wife, using SET (M) form . she is on FLR (M) visa at the moment.
I am sponsoring my wife, as a limited company director.
My company financial year is from 1st March 2020 to 28th February 2021. been operating the company for more than 5 years.
and I have also filed my Self Assessment tax return 5th April 2020 to 31st March 202.

My question is When calculating income, which period should I consider company financial year(1st March 2020 to 28th February 2021) or my self assessment tax return year (5th April 2020 to 31st March 2021)

should I also need to send SA302 too as proof of evidence?

I have been through the guidance but I am a bit confused with wording self employment and limited company director.

please advise. thanks in advance.

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zimba
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Re: SET (M) - Ltd company director full financial year query

Post by zimba » Fri Apr 16, 2021 3:22 pm

Company directors are NOT necessarily self-employed. This is a common misconception. However, in both cases, you need to file self-assessment. If you are not registered as self-employed with HMRC, you must rely on your company tax year and ignore the normal tax year period. You will need to submit CT600 rather than the self-assessment

https://assets.publishing.service.gov.u ... .0-ext.pdf
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

ravief14
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Re: SET (M) - Ltd company director full financial year query

Post by ravief14 » Fri Apr 16, 2021 3:45 pm

Thank you @Zimba, for quick response.
I am not registered as Self employed with HMRC but submitting SA returns every year.

so my financial requirement category would be Category F right ? So I should just submit CT600 along with other required documents.

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zimba
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Re: SET (M) - Ltd company director full financial year query

Post by zimba » Sat Apr 17, 2021 6:47 pm

Yes. The guide is quite clear.
For those employed as a director or other employee (or both) of a specified limited
company in the UK, the relevant financial year(s) will be that covered by the
Company Tax Return CT600 and corresponds to the 12-month accounting year of
the company.
The documents are under "Director or employee of a specified limited company in the UK – specified evidence" section in the guide
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ravief14
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Re: SET (M) - Ltd company director full financial year query

Post by ravief14 » Mon Apr 19, 2021 9:04 am

Thank you Zimba.

ravief14
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Net pay mismatch on Payslip and bank statements

Post by ravief14 » Thu Apr 29, 2021 9:40 pm

I am making Set (M) application for my wife, and I am sponsoring her as limited company’s director. I have booked appointment for next week.
In the last minute I realised that there is 32p difference between payslip and bank statement.
Payslip amount is 980.80 but I paid myself 980.48(not sure what I was thinking while transferring) and this 980.48 reflects on both business bank statement and personal bank statement.

Would this discrepancy lead to visa refusal ?
Any one had similar issue ? What’s the right course of action to rectify this ?

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zimba
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Re: Net pay mismatch on Payslip and bank statements

Post by zimba » Fri Apr 30, 2021 10:22 am

No issue
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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