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Financial req. for contractors working thru limited company

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myegin11
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Posts: 99
Joined: Thu Sep 17, 2009 4:24 pm

Financial req. for contractors working thru limited company

Post by myegin11 » Mon Sep 24, 2012 12:00 am

Hi all

I am really struggling here to understand the financial req. documents we need to supply for the Family Join visa.

I am an IT contractor working through my own limited company. Is there anyone similar who applied and got the visa with the new rules?

First, I thought I should go with the documents listed for the option "Self-employment (via limited company). However, in this document it mentions about being registered to HMRC as self-employed which I am not (page 13 part 5.4.2).

Could anyone provide some help before I lose all my hair?

Thanks

geriatrix
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Post by geriatrix » Mon Sep 24, 2012 3:05 am

That bullet point (to be registered as self-employed) does not apply to you (when employed as director of a company that you are a controlling shareholder of).
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myegin11
Junior Member
Posts: 99
Joined: Thu Sep 17, 2009 4:24 pm

Post by myegin11 » Mon Sep 24, 2012 9:48 am

Hi sushdmehta

Thanks for your input. It's really relieving.

If I am applying under ""Self-employment (via limited company)" category, should I still provide pay slips or do bank statements suffice? Payslips are not included in the list of documents specified for this category, but I wanted to make sure.

Thanks

sushdmehta wrote:That bullet point (to be registered as self-employed) does not apply to you (when employed as director of a company that you are a controlling shareholder of).

harv
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Post by harv » Mon Sep 24, 2012 9:53 am

5.5.4 from the above link applies to you as the director/owner of the limited company...
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myegin11
Junior Member
Posts: 99
Joined: Thu Sep 17, 2009 4:24 pm

Post by myegin11 » Mon Sep 24, 2012 10:36 am

Hi harv

I understand that but in the document it says the earnings for that category will also be concluded from the director's salary as below:
Page 13:
Where the self-employed person has set up their own registered company and is listed as a director of that company, the income that will be assessed will be any salary drawn from the post-tax profits of the company.
harv wrote:5.5.4 from the above link applies to you as the director/owner of the limited company...

myegin11
Junior Member
Posts: 99
Joined: Thu Sep 17, 2009 4:24 pm

Post by myegin11 » Mon Sep 24, 2012 3:43 pm

Hi

This area looks like very confusing.

I wonder if there is anyone who is in the same situation and has actually applied?

Regards

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