Income requirements
#16
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Re: Income requirements
Does your company come under the following description:?
9. In respect of income from employment and/or shares in a limited company based in the UK of a type specified in paragraph 9(a), the requirements of paragraph 9(b)-(e) shall apply in place of the requirements of paragraphs 2 and 10(b).
9. In respect of income from employment and/or shares in a limited company based in the UK of a type specified in paragraph 9(a), the requirements of paragraph 9(b)-(e) shall apply in place of the requirements of paragraphs 2 and 10(b).
- (a) The specified type of limited company is one in which:
- (i) the person is either a director or employee of the company, or both, or of another company within the same group; and
- (ii) shares are held (directly or indirectly) by the person, their partner or the following family members of the person or their partner: parent, grandparent, child, stepchild, grandchild, brother, sister, uncle, aunt, nephew, niece or first cousin; and
- (iii) any remaining shares are held (directly or indirectly) by fewer than five other persons.
#17
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#18
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Re: Income requirements
I have had a contract between my LTD company and another business which I have been doing work for. I would be returning to the UK to work for that business exclusively.
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#21
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Re: Income requirements
I would not be returning to the employment of my limited company - I would be closing that down in December.
I have had a contract between my LTD company and another business which I have been doing work for. I would be returning to the UK to work for that business exclusively.
I have had a contract between my LTD company and another business which I have been doing work for. I would be returning to the UK to work for that business exclusively.
You will be starting a new job with this 'other' business, when? Do you have a contract/employment letter from that 'other' business offering you the job?
#22
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Re: Income requirements
I will be starting as soon as I set foot in the UK. I will be in receipt of the offer letter and contract once it has been written (couple of days) - it's already been informally confirmed.
Last edited by mattarnster; Aug 19th 2020 at 7:03 pm.
#23
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Re: Income requirements
Sorry to ask another question, but I'm sure that the ECO will be asking these questions when they get the varied and numerous documentation from you:
How are you going to show you have earned 18,600 GBP in the US either under Cat A or B from your application date.?
(bearing in mind that your 5 month year old sole trader company will not be relevant - all self employment earnings must be shown by producing 12 months of accounts)
How are you going to show you have earned 18,600 GBP in the US either under Cat A or B from your application date.?
(bearing in mind that your 5 month year old sole trader company will not be relevant - all self employment earnings must be shown by producing 12 months of accounts)
#24
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Re: Income requirements
Sorry to ask another question, but I'm sure that the ECO will be asking these questions when they get the varied and numerous documentation from you:
How are you going to show you have earned 18,600 GBP in the US either under Cat A or B from your application date.?
(bearing in mind that your 5 month year old sole trader company will not be relevant - all self employment earnings must be shown by producing 12 months of accounts)
How are you going to show you have earned 18,600 GBP in the US either under Cat A or B from your application date.?
(bearing in mind that your 5 month year old sole trader company will not be relevant - all self employment earnings must be shown by producing 12 months of accounts)
#25
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Re: Income requirements
but using income from your specified company for the 2019 - 2020 financial year in the UK? (presumably to August 2020? OR your new company in the US?
Last edited by SanDiegogirl; Aug 19th 2020 at 7:36 pm.
#26
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Re: Income requirements
So you are going to be applying under Cat B - Category B: Less than 6 months with current employer or variable income – overseas sponsor returning to the UK?
but using income from your specified company for the 2019 - 2020 financial year in the UK? (presumably to August 2020? OR your new company in the US?
but using income from your specified company for the 2019 - 2020 financial year in the UK? (presumably to August 2020? OR your new company in the US?
The specified limited company hasn't been trading since March 2020 at which time I registered under a DBA here in the USA.
#27
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Re: Income requirements
From your postings it would appear that you are going to use income from your specified limited company in the UK. (Financial year 2018-2019 and 2019-2020)
No income from your stay in the US.
As this is a specified limited company you cannot apply under either Cat A or B but need to apply under the rules of either F or G as per document Appendix FM1.7, I linked for you.
Director or employee of a specified limited company in the UK – requirements: A limited company is owned by its shareholders. Where such a shareholder is also a director or other employee of the company, they may be paid a salary and receive dividends, which can generally be counted, as appropriate, as employment or nonemployment income under Category A, Category B or Category C. However, if the company is of the type specified in paragraph 9(a) of Appendix FM-SE, the person’s income must instead be considered under Category F or Category G.
So, you need to show the relevant income (18,600 GBP and above) as per Section 9 of Appendix FM-SE (which from the list of documents you appear to be able to do).
Where, personally, I think your application veers from the usual is that your specified limited company is based in the UK (as all references to this type of business in Appendix FM 1.7 adhere to), while YOU are living in the US. To apply under F or G would imply that YOU the sponsor is living in the UK. The fact that your specified limited company has not traded since March 2020, but you have accounts to August 2020 leads me to think you are still registered as resident in the UK. If this is so it might be advisable for you, the sponsor, to input your current address on the application form as the UK.
To apply under F or G you can only include income which falls within the annual financial yearly accounts:
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
Also, under Category F or G you must show ongoing income following the presented accounts. Your UK company has not been in business since March 2020 and you intend to wrap it up in December. How this will affect your application I don't know.
A much more straight forward application would be for you to move to the UK, take up your new job and then apply after 6 months. Your family could visit, but would need to return to the US to apply.
No income from your stay in the US.
As this is a specified limited company you cannot apply under either Cat A or B but need to apply under the rules of either F or G as per document Appendix FM1.7, I linked for you.
Director or employee of a specified limited company in the UK – requirements: A limited company is owned by its shareholders. Where such a shareholder is also a director or other employee of the company, they may be paid a salary and receive dividends, which can generally be counted, as appropriate, as employment or nonemployment income under Category A, Category B or Category C. However, if the company is of the type specified in paragraph 9(a) of Appendix FM-SE, the person’s income must instead be considered under Category F or Category G.
So, you need to show the relevant income (18,600 GBP and above) as per Section 9 of Appendix FM-SE (which from the list of documents you appear to be able to do).
Where, personally, I think your application veers from the usual is that your specified limited company is based in the UK (as all references to this type of business in Appendix FM 1.7 adhere to), while YOU are living in the US. To apply under F or G would imply that YOU the sponsor is living in the UK. The fact that your specified limited company has not traded since March 2020, but you have accounts to August 2020 leads me to think you are still registered as resident in the UK. If this is so it might be advisable for you, the sponsor, to input your current address on the application form as the UK.
To apply under F or G you can only include income which falls within the annual financial yearly accounts:
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
Also, under Category F or G you must show ongoing income following the presented accounts. Your UK company has not been in business since March 2020 and you intend to wrap it up in December. How this will affect your application I don't know.
A much more straight forward application would be for you to move to the UK, take up your new job and then apply after 6 months. Your family could visit, but would need to return to the US to apply.
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#30
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Re: Income requirements
Yes indeed, massive thanks!
SanDiegogirl In regards to your last post, I have since spoken to a solicitor about the matter as I don't trust myself to be able to represent my financial situation correctly.
They seem to think that I would be okay as long as I have the job offer in hand - but re-reading the guidelines, they say that I still have to show the last 12 months of my income prior to the application.
I have asked for clarification on which category they are saying I am eligible under and will update here when they get back to me.
Again, I really thank you for all your help thus far.
SanDiegogirl In regards to your last post, I have since spoken to a solicitor about the matter as I don't trust myself to be able to represent my financial situation correctly.
They seem to think that I would be okay as long as I have the job offer in hand - but re-reading the guidelines, they say that I still have to show the last 12 months of my income prior to the application.
I have asked for clarification on which category they are saying I am eligible under and will update here when they get back to me.
Again, I really thank you for all your help thus far.