Meeting the 18,600 financial requirement.

[jquinn89]

Hello

I have a question about the UK Settlement Financial Requirement. I currently earn £17,500 yearly, falling short of the £18,600 required. Can a family member send money to me for six months so that I surpass the £18,600 pounds requirement, combining their financial support with my wage? I would explain in my presentation letter that they help to supplement my income.

Many thanks

J

[CR001]

Unfortunately not. It needs to be your proof of income in the form of payslips and corresponding bank statements.

Page 18 in link below, 'Sources that are not permitted'.

https://assets.publishing.service.gov.u ... ext_1_.pdf

[jquinn89]

Thank you for your reply. Are there any creative ways to bridge the gap?

[CR001]

Get a part time second job or a salary increase. You would have to wait a further 6 months though.

[Frontier Mole]

Thank you for your reply. Are there any creative ways to bridge the gap?

Any “creative” way gets you in a fair amount of trouble... best avoided. The only way is to do as the rules state - earn at least £18,600 per year with the appropriate payslips and bank records to demonstrate the amount earned.

[jquinn89]

Get a part time second job or a salary increase. You would have to wait a further 6 months though.

Thank you, getting a part time weekend job is actually a really good idea that I didn't think of

[seagul]

Thank you, getting a part time weekend job is actually a really good idea that I didn't think of

If you and/or your partner have some 6 months old savings anywhere in world then you can cover that shortfall. Another option can be apart of finding new part time job is to start undertaking overtime at your existing working place.

[jquinn89]

Thank you, getting a part time weekend job is actually a really good idea that I didn't think of

If you and/or your partner have some 6 months old savings anywhere in world then you can cover that shortfall. Another option can be apart of finding new part time job is to start undertaking overtime at your existing working place.

Thanks for your reply, I can inquire about some possible overtime. No savings unfortunately.

[jquinn89]

Thank you, getting a part time weekend job is actually a really good idea that I didn't think of

If you and/or your partner have some 6 months old savings anywhere in world then you can cover that shortfall. Another option can be apart of finding new part time job is to start undertaking overtime at your existing working place.

Hi, after doing some further research I am unclear on the rules. I found this section from the document the other poster linked to:

"An amount based on the cash savings above £16,000 held by the applicant’s
partner, the applicant or both jointly for at least the 6 months prior to the date of
application and under their control. At the entry clearance/initial leave to remain
stage and the further leave stage, the amount above £16,000 must be divided by 2.5
(to reflect the 2.5 year or 30-month period before the applicant will have to make a
further application) to give the amount which can be added to income."

So any savings under 16,000 can not be added to my salary for the calculation?

Many thanks

[CR001]

So any savings under 16,000 can not be added to my salary for the calculation?

Correct. Savings under £16k are disregarded.

[jquinn89]

So any savings under 16,000 can not be added to my salary for the calculation?

Correct. Savings under £16k are disregarded.

Thank you very much.

[Jhelumi]

Thank you, getting a part time weekend job is actually a really good idea that I didn't think of

If you and/or your partner have some 6 months old savings anywhere in world then you can cover that shortfall. Another option can be apart of finding new part time job is to start undertaking overtime at your existing working place.

Hi, after doing some further research I am unclear on the rules. I found this section from the document the other poster linked to:

"An amount based on the cash savings above £16,000 held by the applicant’s
partner, the applicant or both jointly for at least the 6 months prior to the date of
application and under their control. At the entry clearance/initial leave to remain
stage and the further leave stage, the amount above £16,000 must be divided by 2.5
(to reflect the 2.5 year or 30-month period before the applicant will have to make a
further application) to give the amount which can be added to income."

So any savings under 16,000 can not be added to my salary for the calculation?

Many thanks

Hello,

If you want to take the combined salary and the savings route, you will need to make up for the shortfall.

£18,600 (required) minus £17,500 (current salary) = £1,100 (shortfall)
£1,100 (shortfall) x 2.5 = £2,750 (total shortfall)

£2,750 (total shortfall) + £16,000 (minimum savings) = £18,750 (total savings for 6 month period)

[jquinn89]

Thank you, getting a part time weekend job is actually a really good idea that I didn't think of

If you and/or your partner have some 6 months old savings anywhere in world then you can cover that shortfall. Another option can be apart of finding new part time job is to start undertaking overtime at your existing working place.

Hi, after doing some further research I am unclear on the rules. I found this section from the document the other poster linked to:

"An amount based on the cash savings above £16,000 held by the applicant’s
partner, the applicant or both jointly for at least the 6 months prior to the date of
application and under their control. At the entry clearance/initial leave to remain
stage and the further leave stage, the amount above £16,000 must be divided by 2.5
(to reflect the 2.5 year or 30-month period before the applicant will have to make a
further application) to give the amount which can be added to income."

So any savings under 16,000 can not be added to my salary for the calculation?

Many thanks

Hello,

If you want to take the combined salary and the savings route, you will need to make up for the shortfall.

£18,600 (required) minus £17,500 (current salary) = £1,100 (shortfall)
£1,100 (shortfall) x 2.5 = £2,750 (total shortfall)

£2,750 (total shortfall) + £16,000 (minimum savings) = £18,750 (total savings for 6 month period)

Hi, thanks for your comment! Can you please explain why the £1,100 shortfall is multiplied by 2.5 for a total shortfall?

[Shaaz2029]

Can someone please explain how many months bank statements are required for a person who is working as a director of his company and withdraw salary of more than £18,600 p.a.
Many thanks

[CR001]

Can someone please explain how many months bank statements are required for a person who is working as a director of his company and withdraw salary of more than £18,600 p.a.
Many thanks

Please start your own topic with your questions and circumstances instead of tagging onto other members threads. It is unfair to other posters and creates confusion.

[Jhelumi]

If you and/or your partner have some 6 months old savings anywhere in world then you can cover that shortfall. Another option can be apart of finding new part time job is to start undertaking overtime at your existing working place.

Hi, after doing some further research I am unclear on the rules. I found this section from the document the other poster linked to:

"An amount based on the cash savings above £16,000 held by the applicant’s
partner, the applicant or both jointly for at least the 6 months prior to the date of
application and under their control. At the entry clearance/initial leave to remain
stage and the further leave stage, the amount above £16,000 must be divided by 2.5
(to reflect the 2.5 year or 30-month period before the applicant will have to make a
further application) to give the amount which can be added to income."

So any savings under 16,000 can not be added to my salary for the calculation?

Many thanks

Hello,

If you want to take the combined salary and the savings route, you will need to make up for the shortfall.

£18,600 (required) minus £17,500 (current salary) = £1,100 (shortfall)
£1,100 (shortfall) x 2.5 = £2,750 (total shortfall)

£2,750 (total shortfall) + £16,000 (minimum savings) = £18,750 (total savings for 6 month period)

Hi, thanks for your comment! Can you please explain why the £1,100 shortfall is multiplied by 2.5 for a total shortfall?

Hello,

That's the formula the Home Office uses.

The required figure is £62,500 (£12,500 x 5 years) of savings or combination of savings and employment.