ILR Financial Proof for Company Director

[SS2021]

Hello,

My wife is applying for her ILR now, and we are using my income as a director of a limited company to prove our finances. I am receiving income as both an employee of the company (via PAYE) and receiving further income via dividends. However, my salary as an employee is over the £18,500 financial requirement without including dividends. So my question is:

1. Do I still need to provide my dividend slips and bank statements related to dividends if this income is not required to show evidence of financial eligibility? It would involve providing another year's worth of paperwork and additional bank statements and I am wary of sending too much information and so lengthening our application time as my wife urgently needs to travel soon. (We are applying via super priority)

2. Will electronic bank statements be enough? The rules seem to say that electronic statements need to be stamped or accompanied by a letter from the bank but this is confusing to me as then what is the purpose of an electronic statement?

If anyone has any experience with this I would be much obliged!

Thank You

[zimba]

1. If you do NOT want to rely on dividends, answer NO to the question regarding 'if you are a director' on the form. A single source is enough
2. All electronic evidence is accepted

[SS2021]

Hi Zimba, thanks for the quick response.

I am not sure if this will be correct though as Section 9A states that if you are an employee of a company of which you are also a director you will have to provide additional information such as CT600, company statements, etc. So my understanding is that I will still have to state that I am a director in the form?

To quote the rules:

2. In respect of salaried employment in the UK (except where paragraph 9 applies)

9. In respect of income from employment[and/or shares in a limited company based in the UK of a type specified in paragraph 9(a), the requirements of paragraph 9(b)-(e) shall apply in place of the requirements of paragraphs 2 and 10(b).
(a) The specified type of limited company is one in which:
(i) the person is either a director or employee of the company, or both, or of another company within the same group; and
(ii) shares are held (directly or indirectly) by the person, their partner or the following family members of the person or their partner: parent, grandparent, child, stepchild, grandchild, brother, sister, uncle, aunt, nephew, niece or first cousin; and
(iii) any remaining shares are held (directly or indirectly) by fewer than five other persons.

So I think because my employment is from a company that I am also the director as per section 9, I will have to tick yes to being director on the form. However, will I also have to provide dividends statements is my question if I am eligible via employment through the company?

[zimba]

You are correct. I misread that part in your original query. You are an employee of a specified company. You must provide all the evidence as per guide. You do NOT need to provide evidence of dividends