Past Earning & Currency Conversion

[ifti786]

Hello All,

I am from Pakistan and going to apply for HSMP. Can anyone answers my questions.

1. My salay income is short of Rs. 50000/- to complete UK Pount 7500. Also, I am working as consultant and my consultany amount is being transfered to bank.

My question is, can I add consultancy amount in my salary?

2. UK Pound rate suddenly went up from Rs. 106 to Rs. 114 within one month. What is the criteria for currency conversion?

waiting for reply.

Thanx and best regards.

Iftikhar

[stanC]

Your salary will be converted by the case worker based on the date of the last month salary slip, you can used Oanda currency converter to determine the conversion rate.

Are you stating gross or net salary, HSMP is interested to know the gross.

If the consultation fee is part of your income you can enter it. I guess, someone with experience please advise.

[ifti786]

Thanx a lot stanC.

My Gross Salary for last 12 months is UK Pount 6991/=.

Presently I am working as Oracle Database Administrator. I am also earning handsome amount doing the consultancy job of database design and administration in another company.

My question is that whether I can add that consultancy amount with supporting documents to claims the 25 points for past earning.

Thanx and best regards.

[ifti786]

PS. I need UK Pount 7500/- to claim the 25 points for past earning.

[Cool]

Yes you can, especially if you can show tax returns in respect of the income from consultancy.

Cool

[gautat]

ifti786,

just fyi.

I also had gone through same issue. I applied 2 months back and claimed for 35 points thinking that they use exchange rate based on last salary slip but they used exchange rate on date they received my application and based upon that I just felt short and got only 25 points. I also applied for review pasting contents from HSMP guidance notes which clearly states that exchange rate of last pay slip will be considered, however they still didnt give me 35 points.

[ifti786]

Thanx a lot gautat and Cool.


I am waiting for more replies from other group memebers.

Thanx and best regards.

Iftikhar

[Mini]

I had submitted my calculation done with average conversion rate for the 12 months AND with rate as on the date of my application. Both ways my salary converted to above 7500gbp and I was given the relevant points. Not sure which they considered.

You can surely claim the consultancy earnings as long as you have the relevant documents of proof and paid income tax on them. I believe in some countries large parts of consultancy earnings are tax free, in that case you will need to submit a letter from your company or a certified chartered accountant citing specific tax clauses.

Hope this helps.

[ifti786]

Thanx a lot "Mini" for your valuable informations.

[alisondc]

I used a print of the exchange rate from www.xe.com on the day i assembled my application. It was approved but i'm not sure if they used that enclosure or double referenced my pay slips against the exhange rate to get me to the 40K mark.