Iam totally lost...Help me...Please

[rubzah]

Respected Sir or Madam,

I am a Tier 1 general migrant. I will be applying for my ILR soon.

After reading SET(O) I have following doubts, that I request your input to clear for me. In the aforesaid form, on page 39 it says the under mentioned wordings;

Your Finances

Evidence of your finances. If you have to complete section 5, bank statements, building society savings book(s), pay slips or other formal documents as evidence of your ability to maintain and accommodate yourself and any dependants without recourse to public funds. (See Note 5).

Note 5 We do not accept internet or cashpoint statements as evidence of finances. If you claim that a relative or friend is providing you with financial support (see question 5.4), in addition to evidence of your own finances, you must provide bank statements or other documents of the kind described above as evidence of their financial resources. The documents showing the finances available to you and to any person supporting you should cover at least the last 3 months.

It does says that I need to show that I have personal savings up to three months from the date of my application. It, however, does not guides me how much I need to show? Since my spouse is also working, can I include his savings as well. One of my friend also said that she is willing to help me, incase I need her financial help. What documents do I need to include for this type of claim. OR I can show my earnings only etc. I have tried to look in to the policy guidance as well, but can't find the right place to find the answer to this question.

In addition to this, I am working as employed and my personal limited company setup as well. I am just drawing money from my company's account to my personal account to do all the business expenses and use the money for my personal use as well.

My accountant (who is a chartered accountant) has made a Profit and Loss statement using both my company's and personal's accounts. As per him, this profit and loss statments are accepted by HMRC for tax purpose. Do I need to send that profit and loss statement along with the accountant letter and managed account statement etc. for claiming the points for my previous earnings.

I will really appreciate your shedding light on these two issues.

Thanks,

[linkers]

With reference to your Finances question unlike Tier-1, there is no mandatory maintenance funds requirement for ILR . But it’s always advisable to have some savings in your account.

I have seen people getting ILRs successfully with their accounts in over draft.

[rubzah]

Thanks linkers

Can you please advise me if I can attach my husbands saving account statement and my friends account statment as proof of my maintenance funds. I have around GBP 1500 in my saving account. Will that be enough? I am keeping them for the past few days now, and by the time I apply for ILR they will be in my account for almost two months. My family size is one main applicant, that's me, and four dependants.

Secondly, the way my accountant told me to run my limited company, seems a bit odd (after reading many posts on operation of limited company). My accountant said that HMRC have no problem in accepting the accounts generated using this type of company operations. My question is, Are case workers this much technically strong to analyse the different operating procedures for limited company?

Sould I go for PEO appointment or postal appointment. I am asking this question purley on the reason of my limited company operations...

Thanking you in advance,

[linkers]

The savings you have should be more than enough as I earlier said there is no mandatory minimum funds requirement for ILR.

I am not sure about your 2nd question (as I have always been a salaried employee) and would suggest you to either search on this forum or wait for other senior members to reply.

[geriatrix]

Read the settlement policy guidance, which clearly explains the documentary evidences required by self-employed PBS migrants applying for settlement.

[joh892]

Agree with Linkers. No maintenance funds for ILR and if there was, £1,500 is more than enough

[geriatrix]

Iam totally lost...Help me...Please

This topic was created for that very purpose .. should you wish to read it.

[rubzah]

Thanks everyone...

Let me read all the topics and links advised by you all.

I will revert back, incase, I don't understand any bit of it.

Thanks,

RubZah