Hi all,
I am wondering if anyone has any thoughts on how I should approach the following with a pending FLR(M) application.
In short - if I meet CAT F through last company year to 31 March 2021 and CAT B since 6 April 2021, should I explain in a cover letter why I am applying via CAT F and not via CAT B?
I meet the financial requirement through CAT F as a company director. Company year ended 31 March 2021 so ties in with 5 April 2021 tax year.
Since 6 April the contract has been inside IR35 so I have been paid through an umbrella company. However, it was uncertain how much longer contract would last so I kept my company running and continued paying a salary from it, plus a dividend, plus business insurance so that I continued to meet CAT F requirements just in case contract ended in June or July for example, then potentially earning nothing until on a new contract. I even classed the umbrella gig as a second job so I could state company director was my first/main job.
The contract has surprisingly lasted to date and I have 5 payslips (May to Sept inclusive for work done Apr to Aug inclusive). I now also meet CAT B as the average of the 5 payslips * 12 exceeds £18,600, plus I have been paid more than £18,600.
However, I didn't know CAT B would definitely be available, have all compulsory docs for CAT F ready, and as I have applied via CAT F before feel comfortable doing so again. Do I need to explain all this in the cover letter? Should I include umbrella company payslips as well as my ltd. company payslips? Or does that just unnecessarily complicate matters?
Any comments greatly appreciated.
Thanks all!
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