ILR Annual Investment Allowance Issue

[loveman]

Dear Mods/Gurus

I will be going for my ILR next month.

i was going through my previous assessments i found that one year my accountant has cut £1100 from my net profit as annual Investment Allowance for . and i paid tax for rest of the profit Via self employment which is £12000

this year i am not showing any self employment as my employer income is more than required.

i had submitted this tax return to UKBA during my previous application they haven't questioned anything.

will this allowance be considered as my net profit as i submitted to HMRC if not my annual income will be £200 less than threshold required.

There was no attempt of deception tried as i purchased as laptop for my business purposes for which i claimed the allowance.

Now my doubt is will this be as issue as i don't want make any amendments just before going to visa as it might create more doubts.

please let me know, any suggestions will be very much appreciated.

Thank you
Lax

[screenprint]

amending will not cause any issue as your fault seems to be a very genuine mistake !

At Least you have file your tax return and have proof for your expensive claimed !

[O_Relly]

will this allowance be considered as my net profit as i submitted to HMRC if not my annual income will be £200 less than threshold required.

Were the proof of earnings you submitted to UKVI for an earlier extension was in reality less by £200 because of this annual investement ?

If yes, then there are good chances that this might get picked on even though the difference is only £200 as it will be treated as a case where you did not meet the earnings criteria.

[nethu82]

Hi
You no need to worry about annual investment allowance (AIA). It is totally allowble expenses. I can recommend you not to amend tax return instead.
AIA is total legitimate tax allowance we can deduct 100% (for some items) from taxable income.

UKVI dont know accounting jargon.

[loveman]

amending will not cause any issue as your fault seems to be a very genuine mistake !

At Least you have file your tax return and have proof for your expensive claimed !

Thank you for your reply

These days what ever amendments some one does have been refusing the visa saying that those amendments have been done just for the sake of ILR and that is a deception that's why i have been thinking a lot to make any amendments.

[loveman]

will this allowance be considered as my net profit as i submitted to HMRC if not my annual income will be £200 less than threshold required.

Were the proof of earnings you submitted to UKVI for an earlier extension was in reality less by £200 because of this annual investement ?

If yes, then there are good chances that this might get picked on even though the difference is only £200 as it will be treated as a case where you did not meet the earnings criteria.

Thank you for your reply

These days what ever amendments some one does have been refusing the visa saying that those amendments have been done just for the sake of ILR and that is a deception that's why i have been thinking a lot to make any amendments.

if there is no option i will definitely amend

[loveman]

Hi
I am chartered accountant. You no need to worry about annual investment allowance (AIA). It is totally allowble expenses. I can recommend you not to amend tax return instead.
AIA is total legitimate tax allowance we can deduct 100% (for some items) from taxable income.

UKVI dont know accounting jargon.

Thank you

That's what even my accountant has said, but i am a bit worried as some people are raising doubts that UKBA might raise query on this as with out this allowance i wont meet the required threshold.

[nethu82]

UKVI consider your dividends income and profits in final accounts. CT calculation is totally different scenario.

[loveman]

UKVI consider your dividends income and profits in final accounts. CT calculation is totally different scenario.

sorry Nethu82 i didn't get you, so do you reckon the allowance will be considered as net profit which helps me meet my threshold.

please let me know

Thank you

[smanav919]

Hi Loveman,

What happened with your case, as myn has been rejected for the same reason. Awaiting your reply

Thanks
Manav

[CR001]

Hi Loveman,

What happened with your case, as myn has been rejected for the same reason. Awaiting your reply

Thanks
Manav

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