Financial requirement for a limited company

[Dape22]

Hello,

I am about to apply for a spouse visa outside Uk. My partner recently changed jobs from permanent employment to contract using a limited company..the contract period for the new job is a year. My question is are we eligible for category B? I understand that you could combine previous job but I am just confused because my partner new job is basically contract which began barely 2months ago. Your response will be highly appreciated.

[seagul]

Yes You can apply under category B. You must have earned at least £18600 during the last 12 months from the date of application and secondly the present job must be giving at least £18600 per year. For this purpose 12 months of payslips, corresponding bank statements and employer letter will be needed.

[Dape22]

Yes You can apply under category B. You must have earned at least £18600 during the last 12 months from the date of application and secondly the present job must be giving at least £18600 per year. For this purpose 12 months of payslips, corresponding bank statements and employer letter will be needed.

Thank you so much for your quick response.
I am aware that we’ll need supporting documents for this limited company. However, my partner only just registered this company for the sole purpose of this new job. My partner can only provide a document showing they’re a director, 2months payslips from the current job, payslips from previous job and bank statements for a year. Will this be sufficient?

[seagul]

Yes You can apply under category B. You must have earned at least £18600 during the last 12 months from the date of application and secondly the present job must be giving at least £18600 per year. For this purpose 12 months of payslips, corresponding bank statements and employer letter will be needed.

Thank you so much for your quick response.
I am aware that we’ll need supporting documents for this limited company. However, my partner only just registered this company for the sole purpose of this new job. My partner can only provide a document showing they’re a director, 2months payslips from the current job, payslips from previous job and bank statements for a year. Will this be sufficient?

Above advice was for if you working on a paye job. For directorship read the following guideline at page 60:

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

[rmkirfan]

If you are going through director/self employed route, it's cat F and have to wait for 12 months unfortunately.

[Dape22]

Hello everyone,

Married to a British who has been self employed for 10months. We were hoping we'd be to file for spouse visa for me in 3 months once he sort his taxes out and all. However, with the new IR35 rules, he'd be on a compulsory PAYE by April which then means we won't be able to provide 12months of company tax.
My question is what are options at this point please?

[Dape22]

Hello everyone,

My husband started his limited company as a director in May last year. He is been paying himself a monthly salary and all.

We are now looking to apply for a spouse visa sometime soon but I am a bit confused about the financial year. Must the financial year fall between April 6 2019 and April 5 2020 as he started his company in May 2019? or we can provide the company financial statement from May 2019 to May 2020?

[TODMATT]

Hello everyone,

My husband started his limited company as a director in May last year. He is been paying himself a monthly salary and all.

We are now looking to apply for a spouse visa sometime soon but I am a bit confused about the financial year. Must the financial year fall between April 6 2019 and April 5 2020 as he started his company in May 2019? or we can provide the company financial statement from May 2019 to May 2020?

For a director of a ltd, your financial year is different from someone who is self employed which usually runs for April to April of the following year. If you company started it’s trading in May 19 then your financial year should be around May 20.

All income recjeved during those period will be used towards meeting the financial requirement.

[Dape22]

Thank you for the clarification @Todmatt

Hello everyone,

My husband started his limited company as a director in May last year. He is been paying himself a monthly salary and all.

We are now looking to apply for a spouse visa sometime soon but I am a bit confused about the financial year. Must the financial year fall between April 6 2019 and April 5 2020 as he started his company in May 2019? or we can provide the company financial statement from May 2019 to May 2020?

For a director of a ltd, your financial year is different from someone who is self employed which usually runs for April to April of the following year. If you company started it’s trading in May 19 then your financial year should be around May 20.

All income recjeved during those period will be used towards meeting the financial requirement.