Self Employed taking thai wife to uk

[Damsurin]

H i im in the procces of doing a seltlement visa for my thai wife to come and settle here in the uk with me

im self employed and earn £20k i want to know ? do the uk visa people take into account your earnings before or after tax?? 

my earnings will be over £20k but i have a new van on hp which i pay  for each month. my accountant says we can claim 100%  back for

my work van ,,, so after tax i my earnings will be about £12k . will the visa people at uk look into this or do they only need to see your gross salary not 

your net??   thanks 

[Liverpudlian]

i wish you the best of luck against my normal advice.

[Damsurin]

9 minutes ago, Liverpudlian said:

i wish you the best of luck against my normal advice.

 

9 minutes ago, Liverpudlian said:

i wish you the best of luck against my normal advice.

i dont understand ?? you mean dont bring wife to uk !

[UKresonant]

Fairly sure it is Gross £18600, you can also use cash savings,  they look at savings in excess of £16000, divided by 2.5, as an addition to income.

Found this...

"an income before tax of at least £18,600 a year"

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/733638/VAF4A-Appendix2-08-18.pdf

also

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/263237/section-FM2.1.pdf

[theoldgit]

5 hours ago, johnwf1963 said:

Fairly sure it is Gross £18600, you can also use cash savings,  they look at savings in excess of £16000, divided by 2.5, as an addition to income.

You cannot use cash savings to make up any shortfall of income when applying as a self employed sponsor, though you can use savings as a sole method of meeting the financial requirement, in which case you'd need £62,500 in savings.

 

Extract from the official guidance

7.1.3. Category D Cash savings cannot be combined with self-employment income, or with income from employment as a director or employee of a specified limited company in the UK, under either Category F or Category G: see section 9 of this guidance. Category D Cash savings also cannot be combined with part (2) of Category B: salaried and non-salaried employment: see section 5 of this guidance.

 

The UKVI will use the gross earnings, they take no account of outgoings such as tax, rent/mortage or payments on your van.

 

I've attached the relevent guidance, apologies if you've already read it, page 58 covers self employment. 

Appendix_FM_1_7_Financial_Requirement_Final.pdf

[gunderhill]

5 hours ago, johnwf1963 said:

Fairly sure it is Gross £18600, you can also use cash savings,  they look at savings in excess of £16000, divided by 2.5, as an addition to income.

Found this...

"an income before tax of at least £18,600 a year"

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/733638/VAF4A-Appendix2-08-18.pdf

also

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/263237/section-FM2.1.pdf

or  something  like 60k pounds in  the  bank,  thought about  this  for  if  the crap  hits  the  fan  sometime.

[Damsurin]

6 hours ago, johnwf1963 said:

Fairly sure it is Gross £18600, you can also use cash savings,  they look at savings in excess of £16000, divided by 2.5, as an addition to income.

Found this...

"an income before tax of at least £18,600 a year"

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/733638/VAF4A-Appendix2-08-18.pdf

also

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/263237/section-FM2.1.pdf

thanks for that 

[Damsurin]

58 minutes ago, theoldgit said:

You cannot use cash savings to make up any shortfall of income when applying as a self employed sponsor, though you can use savings as a sole method of meeting the financial requirement, in which case you'd need £62,500 in savings.

 

Extract from the official guidance

7.1.3. Category D Cash savings cannot be combined with self-employment income, or with income from employment as a director or employee of a specified limited company in the UK, under either Category F or Category G: see section 9 of this guidance. Category D Cash savings also cannot be combined with part (2) of Category B: salaried and non-salaried employment: see section 5 of this guidance.

 

The UKVI will use the gross earnings, they take no account of outgoings such as tax, rent/mortage or payments on your van.

 

I've attached the relevent guidance, apologies if you've already read it, page 58 covers self employment. 

Appendix_FM_1_7_Financial_Requirement_Final.pdf 768.2 kB · 0 downloads

yes thats true mate you cant use savings unless £62 k  

[Damsurin]

9 hours ago, theoldgit said:

You cannot use cash savings to make up any shortfall of income when applying as a self employed sponsor, though you can use savings as a sole method of meeting the financial requirement, in which case you'd need £62,500 in savings.

 

Extract from the official guidance

7.1.3. Category D Cash savings cannot be combined with self-employment income, or with income from employment as a director or employee of a specified limited company in the UK, under either Category F or Category G: see section 9 of this guidance. Category D Cash savings also cannot be combined with part (2) of Category B: salaried and non-salaried employment: see section 5 of this guidance.

 

The UKVI will use the gross earnings, they take no account of outgoings such as tax, rent/mortage or payments on your van.

 

I've attached the relevent guidance, apologies if you've already read it, page 58 covers self employment. 

Appendix_FM_1_7_Financial_Requirement_Final.pdf 768.2 kB · 0 downloads

thanks for that i was hopeing they wouldnt take into account my van , tax , rent and out goings 

the only proplem i see as i am self employed and its the first year i have declared over £19 k

[rasg]

You need to show £18,600 pa as your gross earnings before tax after you have had all of your allowances taken off etc.

 

I recently read about a refusal where the self employed guy hadn’t claimed all of his allowances and he wasn't able to hit the the £18,600 figure as a result. 

[Damsurin]

I have shown nearly 20k before my stoppages , van diesel etc etc
Is this ok ,?


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[rasg]

No it's not. The only "stoppages" are the amount of tax you have to pay which is what I said in my previous post.

 

You need to show £18,600 pa as your gross earnings before tax after you have had all of your allowances taken off etc. This includes diesel, all of your business expenses, van, materials that you use for your business etc etc.

[Damsurin]

My accountant says I need to pay £600 that’s including national insurance, as he claimed for my new work van


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[Damsurin]

My accountant says I need to pay £600 that’s including national insurance, as he claimed for my new work van

He had not claimed for all the allowance on the van just half

 

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I’m just a bit confused with this ??

 

 

 

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[rasg]

I'm not sure what you are confused about.

 

Anything you buy for the business is a business expense which you can offset against your tax bill. If you stick £100 a week of diesel into your van that is £5200 for the year. If you do £25,200 in turnover for the year, you would have to pay tax on £20,000. The £5,200 is offset against your tax bill.

 

There is obviously a lot more involved than that with NIC, van payments, buying equipment, and buying whatever you need to run your business. All of it is offset against your tax bill. Except the NIC. of course. That's just another tax.

[Damsurin]

I'm not sure what you are confused about.
 
Anything you buy for the business is a business expense which you can offset against your tax bill. If you stick £100 a week of diesel into your van that is £5200 for the year. If you do £25,200 in turnover for the year, you would have to pay tax on £20,000. The £5,200 is offset against your tax bill.
 
There is obviously a lot more involved than that with NIC, van payments, buying equipment, and buying whatever you need to run your business. All of it is offset against your tax bill. Except the NIC. of course. That's just another tax.

Hello again mate is it ok if I send u a private message ??


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[rasg]

Of course.