Post
by Casa » Tue Oct 18, 2016 6:55 pm
Hang in there. We can appreciate that this is stressful for you.
It won't be the income going into the bank. It will be the amount shown on his self-assessment tax return after he has deducted business expenses (profit).
See 9.6. Sole trader, partner or franchise – specified evidence 9.6.1.
7. In respect of self-employment in the UK as a partner, as a sole trader or in a
franchise, all of the following must be provided:
(a) Evidence of the amount of tax payable, paid and unpaid for the last full financial year.
(b) The following documents for the last full financial year, or for the last two such years
(where those documents show the necessary level of gross income as an average of
those two years):
(i) Annual self-assessment tax return to HMRC (a copy or print-out);
(ii) Statement of Account (SA300 or SA302).
(c) Proof of registration with HMRC as self-employed if available.
(d) Each partner's Unique Tax Reference Number (UTR) and/or the UTR of the
partnership or business.
(e) Where the person holds or held a separate business bank account(s), bank
statements for the same 12-month period as the tax return(s).
(f) Personal bank statements for the same 12-month period as the tax return(s) showing
that the income from self-employment has been paid into an account in the name of the
person or in the name of the person and their partner jointly.
(g) Evidence of ongoing self-employment through evidence of payment of Class 2
National Insurance contributions, or (where the person has reached state pension age)
through alternative evidence (which may include, but is not confined to, evidence of
ongoing payment of business rates, business-related insurance premiums, employer
National Insurance contributions or franchise payments to the parent company).
(h) One of the following documents must also be submitted:
(i) (aa) If the business is required to produce annual audited accounts, such accounts for
the last full financial year; or
(bb) If the business is not required to produce annual audited accounts, unaudited
accounts for the last full financial year and an accountant’s certificate of confirmation,
from an accountant who is a member of a UK Recognised Supervisory Body (as defined
in the Companies Act 2006) or who is a member of the Institute of Financial
Accountants;
(ii) A certificate of VAT registration and the VAT return for the last full financial year (a
copy or print-out) confirming the VAT registration number, if turnover is in excess of
£79,000 or was in excess of the threshold which applied during the last full financial
year;
(iii) Evidence to show appropriate planning permission or local planning authority
consent is held to operate the type/class of business at the trading address (where this
Appendix FM 1.7: Financial Requirement
May 2016
62
is a local authority requirement); or
(iv) A franchise agreement signed by both parties.
(i) The document referred to in paragraph 7(h)(iv) must be provided if the organisation is
a franchise
You won't be able to concentrate on this until you've sorted your son out. Forget about this for now...and when you're ready, post again. There'll be someone here to help.
(Casa, not CR001)
Please don't send me PMs asking for immigration advice on posts that are on the open forum. If I haven't responded there, it's because I don't have the answer. I'm a moderator, not a legal professional.
