ILR as self employed

[T1ilr]

Hello all,

I have an important query- if someone can throw some light please?

I have ILR due in December 2013. I have already qualified in the incomes aspect. However, my situation is:

1) I am self employed and have been drawing salary + Dividend
2) Contract market got tougher and hence I did not get work from Dec 2012.
3) I have stopped taking salary from April 2013 (means last income tax paid + NI was QE Mar 2013) and took dividend in May 2013 and again this month.
4) My earnings period would be Sep 2012 till Aug 2013. During this period my salary + dividend equates the required threshold for me to qualify for ILR.
5) However, my company bank balance is only £1500 now.
6) Otherwise corporation tax, NI+ Tax and VAT are all up to date and no arrears.

Now my questions are:

a) Is the company bank balance irrelevant for ILR or do I need to have certain amount of money?
b) How is it going to go that I haven't had work since Dec last year
d) How is it going to go with HO that I have not withdrawn salary since April which means no tax after QE Mar 2013.
e) Obviously, the company would not be on profit for the current FY.

I have already decided to go permanent and so the above company situation is not going to change.

What are your thoughts please?

Kind regards

[wmazhar]

my thoughts are below

Hello all,

I have an important query- if someone can throw some light please?

I have ILR due in December 2013. I have already qualified in the incomes aspect. However, my situation is:

1) I am self employed and have been drawing salary + Dividend
2) Contract market got tougher and hence I did not get work from Dec 2012.
3) I have stopped taking salary from April 2013 (means last income tax paid + NI was QE Mar 2013) and took dividend in May 2013 and again this month.
4) My earnings period would be Sep 2012 till Aug 2013. During this period my salary + dividend equates the required threshold for me to qualify for ILR.
5) However, my company bank balance is only £1500 now.
6) Otherwise corporation tax, NI+ Tax and VAT are all up to date and no arrears.

Now my questions are:

a) Is the company bank balance irrelevant for ILR or do I need to have certain amount of money? //no certain amount is required, some guys here have used business overdraft and still got the visa

b) How is it going to go that I haven't had work since Dec last year//
that does't matter even if you work 1 month in the last 12 months and reached the threshold amount you are fine
d) How is it going to go with HO that I have not withdrawn salary since April which means no tax after QE Mar 2013. // doesn't matter just show the withdrawn salary
e) Obviously, the company would not be on profit for the current FY.
//company should have money to pay current year tax in April 2014, however if you don't have money now you can put money later.

I have already decided to go permanent and so the above company situation is not going to change.

//you can show the combine income as well if you get job before visa


What are your thoughts please?

Kind regards

[T1ilr]

Thanks wmazar. This is quiet re-assuring