ILR/Tier 1(G) -SET (O)/Secion 5 -Home & Finance : For LT

[nnj10]

Section 5 of SET (O) form asks questions about details of personal finance.
In particular Q 5.3, what is your pay each month after income tax and other deductions?

What should be the response for the people who are working through their LTD co.
and taking payment by way of a combination of salary and dividend?

A) Just the monthly salary as per payslip (which is steady figure of your earnings, and more likely same for every month;
as dividends do vary and may not be paid monthly at the same time as salary)
This would be too low* for most people and may not even cover the mortgage payment figure in Q 5.2

OR

B) Divide the annual income by 12 and put that figure.
Doing this way the payment figures will not match your monthly bank statement, if dividend is not declared on monthly payslips.

Pls. discuss.
*People working through their LTD co. take very less pay and higher dividend.

[Lucapooka]

B)

Maintenance is not a huge issue for IRL. If you have an income, and live within your means, and haven´t been claiming benefits, you will not be refused on maintenance.

[nnj10]

It seems totally irrelevant to ask this question to Tier-1 General applicant; as (s)/he has to prove the earnings for past 12 months any way.

[krthk.s]

Section 5 of SET (O) form asks questions about details of personal finance.
In particular Q 5.3, what is your pay each month after income tax and other deductions?

What should be the response for the people who are working through their LTD co.
and taking payment by way of a combination of salary and dividend?

A) Just the monthly salary as per payslip (which is steady figure of your earnings, and more likely same for every month;
as dividends do vary and may not be paid monthly at the same time as salary)
This would be too low* for most people and may not even cover the mortgage payment figure in Q 5.2

OR

B) Divide the annual income by 12 and put that figure.
Doing this way the payment figures will not match your monthly bank statement, if dividend is not declared on monthly payslips.

Pls. discuss.
*People working through their LTD co. take very less pay and higher dividend.

nnj10, I am in the same situation as you, and going for PEO on May 9th.

Which option did you choose? (A or B).

[nnj10]

Appointment in next 2 weeks.
I have selected option 1.

As other said, that figure is probably not important, as for Tier-1, UKBA Case worker is going to assess income for previous 12 months, so shouldn't be a problem.