Self Employment + Salaried Employment (Less Than 6 Months)

[sumairc]

Hi,

I need your advice, please.

I applied for my wife's and daughter’s dependent visa's in April but got to know last week that it’s on hold. I was self-employed though my limited company when I applied.

The reason of being it on hold is mainly because I could not provide 12 months bank statement and CT600 (Company Tax), because I had moved back to UK in June 2012 and the bank accounts were opened in August and September so there was no way for me to provide the bank statements of 12 months same was the case with CT600 as the financial year did not end when I applied so year-end tax could not have been paid and final accounts were not made. Although I earn more well above the threshold.

I am advised to withdraw the application and re-submit.

Re-Submission:

Now, three months ago in September, I had switched jobs and moved to salaried employment (again above the threshold required). Now According to section 5.3 you can apply if the total amount earned in the past 12 months is above the threshold.
How can we combine both Salaried and Self-employment together and how many months bank statement I need to provide for my business account from December 2012 – December 2013 as the company is dormant since September and final accounts are being made, the company is not yet closed, we will submit CT600 to the HMRC before applying for a fresh application if we decide to do so.

Again how many months bank statements do I need to provide for business account? Last 12 calendar months? Or since the time company was opened i.e. the financial accounting year. I am a little confused the company was only run for one year and 2 months before I switched jobs.

What do you recommended how many months bank statement is required please? it Says 12 months but then it says 12 accounting months they both can be different.

Regards, Sumair

[SoHopeful]

Self employment seems to be the most complicated category to use so if you are doing this without legal advice, I strongly recommend you read
http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary. That's the document which explains the financial requirements.

According to that

9.3.5.
Income under Category F or Category G can be combined with income from salaried and non-salaried employment, non-employment income and pension income in order to meet the financial requirement.
However, unlike with other Categories, these sources of income must fall within the relevant financial year(s) in order to be included. Under Category F or Category G, all income must fall within the financial year(s) relied on. For example, to count income from property rental the income must have been received during the relevant financial year(s), though the property must still be owned by the relevant person at the date of application

.

Meaning that you have to rely on the last full financial year to use self employment (so 2012/13) and if you are combining that with salaried or non-salaried employment you it has to be over the same period.

[sumairc]

Self employment seems to be the most complicated category to use so if you are doing this without legal advice, I strongly recommend you read
http://www.ukba.homeoffice.gov.uk/sitec ... iew=Binary. That's the document which explains the financial requirements.

According to that

9.3.5.
Income under Category F or Category G can be combined with income from salaried and non-salaried employment, non-employment income and pension income in order to meet the financial requirement.
However, unlike with other Categories, these sources of income must fall within the relevant financial year(s) in order to be included. Under Category F or Category G, all income must fall within the financial year(s) relied on. For example, to count income from property rental the income must have been received during the relevant financial year(s), though the property must still be owned by the relevant person at the date of application

.

Meaning that you have to rely on the last full financial year to use self employment (so 2012/13) and if you are combining that with salaried or non-salaried employment you it has to be over the same period.

Thank you so much for your response, that makes things clearer.

A couple of more questions.

Can I use the current financial year 2013/2014? As from July till now I currently meet the minimum financial requirement self employment and Salaried employment combined. As I switched to salaried employment I will be submitting my CT600 in December for 2013/2014 and closing the company.

Or Should I use to previous financial year 2012/2013 as I meet the requirement on that too.

Can I use Category where average of two financial years is taken combined with the salary employment?

Do you recon I should wait till march when I complete 6 months Employment?

[SoHopeful]

I think you will have to wait until April 2014 when
1. you have been working for 6+ months or
2. it has been a full financial year for self employment

To be honest - using your employment only if you are earning enough would be much easier.