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Not seen it explained exactly but: can you switch from Savings to Income when in UK?

Not seen it explained exactly but: can you switch from Savings to Income when in UK?

Old Feb 1st 2015, 7:23 pm
  #1  
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Default Not seen it explained exactly but: can you switch from Savings to Income when in UK?

Wow - it's been a few years since I last posted. And things (Home Office Rules) have obviously changed since then.

I've spent a few hours reading a number of posts on here after also researching the UK Government pages on the subject, but, not sure I saw the exact example of the scenario I have in my case - and wondered if anyone else had come across this:

I intend to move back to the UK with my US Wife and US Child this summer. I'm not going to hinge it on a job (unless my current employer does a swap from our UK office). The market I am in, and the career tier I am in would require a face to face - so I would rather wait till I am UK side to apply and after researching various jobs sites there appears to be an abundance of jobs in my field (lucky me, I know).

So the savings route - and my question.

I will have the 72k in a UK savings account when I apply, so I'm ok there - but after the 2.5 years test I want to switch to Income - which should be more than enough to cover the 18k - as I simply want to use some of that savings to pay off the UK mortgage, pay cash for cars etc - as I don't live with any debt.

I would presume you can elect to switch from the Savings route to the Income route at the next check, but having seen this example given.

Does anyone know?

Many thanks

Pip
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Old Feb 1st 2015, 7:27 pm
  #2  
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Default Re: Not seen it explained exactly but: can you switch from Savings to Income when in

When it comes to renewing the spouse visa in 2.5 years time (FLR) its perfectly fine to use income as the means of financial requirements, even if you used savings in the original application.
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Old Feb 1st 2015, 7:48 pm
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Default Re: Not seen it explained exactly but: can you switch from Savings to Income when in

Unlike the initial visa you can also use both your and your wife's income to meet the financial requirements for FLR.
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Old Feb 4th 2015, 11:01 am
  #4  
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Default Re: Not seen it explained exactly but: can you switch from Savings to Income when in

You'll need to be careful with the IRS vs HMRC tax rules. Natural allies politically but the US is a minefield for international taxation. You'll need to invest in funds that are PFIC compliant....
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