ILR based on HSMP

mprem · Post by **mprem** » Sun Apr 22, 2007 5:51 pm

Hi All,
I am currently on HSMP visa and I am working as an IT contractor. I'll be appying for my ILR (2 yrs WP + 3 yrs HSMP) in Aug.

Could someone confirm what's the maximum absence allowed for 5 years ILR for those applying under WP + HSMP.

My other query is that my current contract is coming to an end in May, so will it affect my ILR application, if I don't get a new job by the time I apply for my ILR. Do I need to be working when I go for my ILR.

What all documents will I need for my ILR.

Thanks for all your help.

Wanderer · Post by **Wanderer** » Sun Apr 22, 2007 6:10 pm

mprem wrote:My other query is that my current contract is coming to an end in May, so will it affect my ILR application, if I don't get a new job by the time I apply for my ILR. Do I need to be working when I go for my ILR.

Are u a Limited?

If u r then simply carry on paying urself a decent salary into ur personal account - ur still employed by ur company even tho u own it, it's the company that does have a contract - not u.

Unless of course, you've done what a lot of IT contractors have done, drawn it all in salary and dividends........

mprem · Post by **mprem** » Sun Apr 22, 2007 10:44 pm

Thanks for the response, Wanderer.

Yes, I am working through my own Limited company and pay myself a decent salary every month. Is it possible that the caseworker might be interested in knowing if my company has future projects or not and can that affect my ILR ?

On the SET O form, should I show myself as self employed or employed as I am both the director and employed by the company ?

I am planning to take the following documents.

1) HSMP and the WP letters
2) 6 month salary slips
3) 6 month personal bank statements
4) 6 month company bank statements
5) P60 for the last 4 years
6) Experience letter from the previous employments
7) Letter from my accountant regarding mine and the company's earning for this financial year

Earlier contracts from the Employment agencies
9) current tenancy agreement

Could anyone please let me know if I need any other documents in addition to those mentioned above.

durgaprasanth · Post by **durgaprasanth** » Tue Jun 12, 2007 7:15 pm

mprem,

i'm in the similar situation (3 yrs WP + 2 yrs HSMP). i'm limited as well. how much is the decent salary? i'm paying myself Â£2000 per month. is that sufficient?

Wanderer · Post by **Wanderer** » Tue Jun 12, 2007 7:50 pm

durgaprasanth wrote:mprem,

i'm in the similar situation (3 yrs WP + 2 yrs HSMP). i'm limited as well. how much is the decent salary? i'm paying myself Â£2000 per month. is that sufficient?

Yep 2k is fine.

And you are an employee, not self-employed.

durgaprasanth · Post by **durgaprasanth** » Tue Jun 12, 2007 9:02 pm

Wanderer.

Thank you very much!

SYH · Post by **SYH** » Tue Jun 12, 2007 9:08 pm

Wanderer how do you know 2k is enough??

Wanderer · Post by **Wanderer** » Tue Jun 12, 2007 9:13 pm

SYH wrote:Wanderer how do you know 2k is enough??

Well I think it should be enough - to be honest I was thinking from my early IR35 days, 2k sound like a decent amount, without taking the piss and drawing the rest in dividends. So the answer is I don't really KNOW from an ILR pov, should have qualified that!

I know some guys who are taking less than minimum wage in salary (which u can do if u r a director) and the rest in dividends. Of course that's no good if ur proving a decent level of income, cos coming from the old school I still see dividends as a reward for risk, and therefore unreliable.

Sorry for confusion.

SYH · Post by **SYH** » Tue Jun 12, 2007 9:17 pm

Ok thanks, just curious if you were aware of some kind of threshold.
Cheers

durgaprasanth · Post by **durgaprasanth** » Wed Jun 13, 2007 11:28 am

SYH,

What do you think of my case? I'm taking Â£2k partly to be below the radar for IR investigation and partly because I want to grow my company (have target of Â£1 million revenue in 2 years).

SYH · Post by **SYH** » Wed Jun 13, 2007 12:30 pm

Eh the growing your business part is for an investor to analyze
I have to be aware of IR too as I have a UK Ltd company but I don't think there is anyway to escape the wrath of HMRC if they hone in one you.
As for HO, I think if you can sell it to them, whether its 2K or the below the NIC threshold is neither here or there.

Wanderer · Post by **Wanderer** » Wed Jun 13, 2007 1:26 pm

durgaprasanth wrote:SYH,

What do you think of my case? I'm taking Â£2k partly to be below the radar for IR investigation and partly because I want to grow my company (have target of Â£1 million revenue in 2 years).

Crikey I'm struggling to get to a 250k! Whats ur skillset?

durgaprasanth · Post by **durgaprasanth** » Wed Jun 13, 2007 3:42 pm

I just hope Â£2k per month is fine!! Thanks for your advice

olisun · Post by **olisun** » Wed Jun 13, 2007 5:45 pm

durgaprasanth wrote:I want to grow my company (have target of Â£1 million revenue in 2 years).

Have you been buying too many national lottery tickets???

SYH · Post by **SYH** » Sun Sep 09, 2007 5:16 pm

So mprem what is your status with ILR?

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ILR based on HSMP

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