FLR-M Specified Limited Company FY runs out after current leave expiry date

[lavroh]

I am a British citizen and my wife has been in the UK for 2.5 years with her current leave to remain running out on 15 Jul this year 2022.

I started my limited company of which both of us are equal shareholders (she is a company secy and I am the Director) in Jul 2020 - with this FY ending on 1 Jul 2022.

We did not take much salary or dividends in the FY Jul 20-21, as the company was just starting to take off. Therefore to meet the income requirement of £18,600, we would need to rely on the income from FY 2021-22. Now the trouble is that the FY from which we are claiming salary income does not run out until after the leave runs out.

The income evidence of £18,600 (for both of us) needs to be provided corresponding to the latest company financial year in which the income was derived.

This is because our company being closely held, comes under the requirement of Category F: see here on Page 55.

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

In my wife's case, we will need to use mine and her salary figures in the present FY that will run out on 31 July 2022 – the trouble is her current Spouse Visa runs out on 15 July as stated.

Has anyone else been in this situation? Is it an idea to change the company FY, to shorten it - I read somewhere the FY has to be 12 months?

Really confused and worried, so any help and guidance would be very welcome.

[lavroh]

Any reply guys? I am really concerned.