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FLR(M) Financial Requirement for Director of own co

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ngeorgeado
Newly Registered
Posts: 3
Joined: Thu Apr 06, 2017 10:58 pm

FLR(M) Financial Requirement for Director of own co

Post by ngeorgeado » Thu Apr 06, 2017 11:21 pm

My wife is applying for FLR(M) and I am the director and sole-shareholder of a UK company. I can meet all the requirements in 9 except for payslips.
I do pay myself a salary but I pay tax on it as part of my self assessment. As a result, I don't have payslips or P60. I also pay myself dividends and my dividends alone should be enough to cover the financial requirement.

Can I apply with the dividends alone?
Or
Can I apply with the evidence for dividends plus my self assessment (my accountant's suggestion)?

thanks and kind regards

ngeorgeado
Newly Registered
Posts: 3
Joined: Thu Apr 06, 2017 10:58 pm

Re: FLR(M) Financial Requirement for Director of own co

Post by ngeorgeado » Sun Apr 09, 2017 5:56 pm

Bump

Wanderer
Diamond Member
Posts: 10511
Joined: Thu Apr 21, 2005 1:46 pm
Ireland

Re: FLR(M) Financial Requirement for Director of own co

Post by Wanderer » Sun Apr 09, 2017 7:03 pm

It's a legal requirement o provide payslips and report earnings to HMRC via RTI..
An chéad stad eile Stáisiún Uí Chonghaile....

Mojohnson
Junior Member
Posts: 93
Joined: Mon Feb 22, 2016 8:01 am
Pakistan

Re: FLR(M) Financial Requirement for Director of own co

Post by Mojohnson » Mon Apr 10, 2017 6:51 am

Generally I don't see an issue with just using dividends as taking a salary is not a requirement- I think when I applied I used mostly dividends.

However if your stating that a salary is being taken from the company then I assume they would make a point to look out for the pay slips.

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