Last FULL Financial Year - Self Employed

[davesmithe]

Hi there guys,

I'm just looking through Appendix 2 (financial requirement) and have a quick question.

My current status is a self-employed Director of a UK LTD.

The UK LTD was formed in October 2014.

From December 2014 - March 2015 I took a salary of 8000 GBP P60 shows 8000 GBP For The 2014/2015 Tax Year

From April 2015 - December 2015 I will have earned a salary of 18000 GBP No P60 available for 2015/2016 yet

Question: When they ask "How much did your sponsor earn (before tax) in the last full financial year" . Are they referring to 2014/2015? or the Last 12 months?

Thank you very much indeed

Dave

[ThaiVisaExpress]

They are not referring to either.

If you are a director of your own limited company, then the "full financial year" is your last Company Tax Year. From what you have said, your CT year is November 1st to October 31st. Your CT600 will show your Company Tax Year All of your documentation must correspond to that tax year. That includes your bank statements, the business bank. statements, etc. Your P60 's are not an indication of your income as a director, unless your CT year is the same as the normal financial tax year.

Tony M

[davesmithe]

Thank you Tony, may I ask...

What aspect of the Appendix 2 document would refer to the salary I've taken from the company? or would that simply not apply in this situation?

Appreciate your time and input

[ThaiVisaExpress]

Thank you Tony, may I ask...

What aspect of the Appendix 2 document would refer to the salary I've taken from the company? or would that simply not apply in this situation?

Appreciate your time and input

That depends on how you are evidencing your income. I don't know specifically how you are meeting the financial requirement. The Appendix 2 asks for the business income, if that is how you are meeting the requirement (3C). If you are meeting the requirement through salary alone, then you need to complete the section for salaried employment ( 3B). The form is very poor, and ambiguous in places. It really doesn't matter, as the evidence of income is actually in the documents you submit. As long as the figures you put in the Appendix are confirmed by the documentation, you will be okay ( if what you write in the Appendix is different from the documentary evidence you provide, you could be refused). They can't refuse you a visa if their form is impossible to understand. So, you can complete 3B and 3C, and explain what you have done in Part 5. Feel free to tell them that you can't understand the Appendix 2, as it needs some updating anyway.

Don't forget that you must provide all of the specified evidence to confirm your business and your income.

Tony M

[davesmithe]

Thank you Tony, that makes more sense now.

Does Thai Visa Express actually help with filling in forms? I know it's pretty mundane stuff but to actually sit down next to someone would help quite considerably.

[ThaiVisaExpress]

Thank you Tony, that makes more sense now.

Does Thai Visa Express actually help with filling in forms? I know it's pretty mundane stuff but to actually sit down next to someone would help quite considerably.

Sorry, no, simply because it has often turned out to be more than just form-filling. It turned out that, having agreed a price to complete the forms, we sometimes ended up having to correct errors, advise on documentation, etc, and it became a time consuming exercise. But, if you have problems, then do as you have already done, and ask here. Advice from us, and other knowledgeable members is free !

Tony M

[bobrussell]

Speak to your accountant. He or she should be fully aware of how your income is made up. It should be perfectly straight forward for them to demonstrate on paper how everything is set up.

Make sure they are aware of the income requirements that need to be demonstrated and hopefully won't charge much extra to write a letter explaining things to the ECO.

Along the lines of:

Dear Mr So and So

Further to your recent enquiry I can confirm that you meet the financial requirements as discussed. This is shown at line XX on page YY of your latest accounts.

Yours

Accountant.