10 years long residence and New Spouse

[G M]

Dear all,

Hope you all well. Please if you can kindly respond to my inquiry.

I am on ILR (Long residence) received in June 2015. I will be sponsoring my wife in January 2016 after our marriage.
I am contracting on limited company for (2.5 years now). Please can anyone kindly send me the list of all the documents required from my side as well as her side and how will I meet the salary threshold while working on limited company.

I believe that there is minimum salary threshold of £18,600 per annum. How can i meet this on limited company employment?



Thanking in advance.

Thanks
Ghazali

[CR001]

I have moved your post from where you posted it in ILR to the correct place 'Immigration for family members'.

What are your earnings/salary at present?

[G M]

Many thanks for your response.

I am earning £125 a day limited company and contracting since May 2013.

[CR001]

What proof do you have of your salary/earnings?

Do you pay self assessment tax to HRMC?

[G M]

I make my accounts annually and submitted to HMRC for tax payments.

How do I meet the salary threshold of £18600?

[CR001]

To meet the financial requirements, you have to submit proof of income and bank statements and last S302 (I think).

What is your current annual income? Only your income will be taken into account for a spouse visa.

Do you have any savings?

[G M]

Many thanks for your response.

My income (turnover) as shown in my company annual accounts from 1.2.2014 to 31.1.2015 was £30,000.
I still have to make accounts for the 3rd year till 31.1.2016. which is going to be around £30,000 again from (01.02.2015 to 31.01.2016).

Proof: I have business bank statement where the money is deposited each week and then weekly invoice payments receipt posted to my address each week from my client.

I can also show savings of £10,000 but if we only look at my company income figures, Am i meeting the requirements?

Secondly if i work on a limited company, I have heard (not sure) that the salary threshold of £18,600 is proven/met by showing salary+dividend. Is this true or if I show my hourly rate of £18 an hour (i.e. £125 a day) should be fine.

[CR001]

I stand corrected, and perhaps Casa could confirm, but for self employment, it is the net profit that you use after expenses.

[Casa]

Correct. For self-employment it's the amount you pay tax on. i.e after business expenses have been deducted.

[G M]

Thanks. but i am not self employed. I am running a limited company.

and as you mentioned before for spouse visa its the income/earning taken into account?

Or does it have to be net profit of more then £18,600 and the accounts to be submitted with the application should be last one year accounts?

Please confirm me

[CR001]

So what salary do you take from the limited company??

We cannot guess your circumstances and this will just continue with single line questions back at you (until we get tired) if you can't provide the basic information of what your salary situation is per month and/or dividends etc.

[G M]

For the accounts ending 31.1.2016

I will show my salary as £7500 and my dividend as £11500 to meet the threshold limit?

Is this fine? so its the net profit figure counted and not the annual turnover.

[G M]

I also want to ask for example if I secure a permanent role and salary is more then £30k in October.

Can i show a mixture i.e net profit from limited company and then my salary pay slips for 3 months... till January 2016.

[CR001]

Whichever way you do it, you have to show bank statements with corresponding amounts.

If you get a permanent job, you will need 6 months payslips and bank statements.

[G M]

Many thanks for answering my questions. Sorry to bother you again but just trying to finish the confusion.

To prove my earnings, i got my business bank account where the income comes in but mainly i withdraw all the funds from my business account and transfer it to my current account and keep the balance zero in my business account (would this be a problem in my application as you said i will be submitting by bank statement) - the business bank statement would clearly show my earnings and will also submit my invoices which will be another proof of my income.

Secondly at the time of application i will be submitting my company accounts for year ending 31-1-2016 where it would show dividend of £12000 and salary of £7000 i.e. £19000 ... this is how i will be proving/meeting my salary threshold of £18,600 as per UKBA requirements.

One more thing i wanted clarification on. Do i need to show the money in my bank account (business or personal) and maintain a minimum balance?? Please let me know.

Thirdly i also invest in shares... and have a portfolio of £15k however the current value of the shares are just under £9k - would this information also benefit me in the application.

[Wanderer]

Many thanks for answering my questions. Sorry to bother you again but just trying to finish the confusion.

To prove my earnings, i got my business bank account where the income comes in but mainly i withdraw all the funds from my business account and transfer it to my current account and keep the balance zero in my business account (would this be a problem in my application as you said i will be submitting by bank statement) - the business bank statement would clearly show my earnings and will also submit my invoices which will be another proof of my income.

Secondly at the time of application i will be submitting my company accounts for year ending 31-1-2016 where it would show dividend of £12000 and salary of £7000 i.e. £19000 ... this is how i will be proving/meeting my salary threshold of £18,600 as per UKBA requirements.

One more thing i wanted clarification on. Do i need to show the money in my bank account (business or personal) and maintain a minimum balance?? Please let me know.

Thirdly i also invest in shares... and have a portfolio of £15k however the current value of the shares are just under £9k - would this information also benefit me in the application.

Yes that is a problem since the funds withdrawn would then be credited to your Directors Loan account and you will be liable to an interest charge, plus you'd be trading insolvently by withdrawing funds that are not legally yours (i.e. CT and VAT belonging to HRMC, remember you are acting a tax-collector for those funds)

Speak to your accountant.

[G M]

Many thanks for your response.

I will definitely have a word with my accountant.

Would that be fine if from now to 31-1-2016 i start keeping the funds in my business account and whatever bank account balance i got at the moment in my personal account. I transfer the money back to my business account.

Please let me know. thanking in advance.

[G M]

Hello guys. Hope all is well.

I am about to take an appointment for my wife who will be joining me in Uk.

Please can you confirm Ukba website where I have to fill the form, make the payment and take an appointment for my wife to attend in Pakistan Lahore.

Just checking:
vaf4a is the correct form with appendix 2 required.

Please can you confirm the website and the charges.

[CR001]

Spouse visa from Pakistant - step by step guide (click)

Visa4UK website to apply (click)

Apply for a UK visa (click)

Immigration Health Surcharge (click)

Pakistan Application Centre details (Click)

[hassan5805]

To clarify few things for you.

You and the company are seprate entity and whatever the company will earn does not mean you earning.

If you are workign for your company over two and half years then i spose your accountant already submitted the tax returns for you and you do need to get SA302 from HMRC which will show your Wage income along with any dividends you withdrawn from company.
I think you have also need to send company bank statmwents and stuff please do check with other. But if you need any information with financial infomarion i can help/

Thanks