Hi All

Looking some advice on the use of Rental Income to meet the financial requirements for a settlement visa for my wife.

With the requirement being being £18,600 per year I fall a bit short with my current job, however I have rental inciome of £5,400 per year which takes me well over the £18,600 requirement.

However. I haven't declared this income to HMRC (didn't know I had to initially) because when I deduct allowable expenses it is below the threshold tax is paid at.
I have a rental agreement and proof of the money being paid into my bank acount every 4 weeks (by a government agency) for the last 12 months and more, so can I still use this income to meet the financial requirements.

Thanks in advance.

See "6.1. Category C: Non-employment income – requirements" and "6.2. Property rental – further guidance" in the Financial Requirement appendix for details.

 

Immigration Rules Appendix FM-SE: family members specified evidence Para 10( a ) lists the documents you need to provide.

 

What effect not declaring this income to HMRC will have, I don't know for sure. But as they do not require evidence that it has been declared I suspect it will be none.

• I have used rental income as proof of income. It is all declared but as far as I know HMRC have never been contacted and I was never asked for any documentation regarding HMRC, so I wouldn't worry about it.

Thanks for the replies guys.

There isn't actually any tax due on the rental income as it doesn't even show a profiit against allowable expenses, I just didn't realise I still had to declare it until now.

35 minutes ago, Ciaran Mc said:

Thanks for the replies guys.

There isn't actually any tax due on the rental income as it doesn't even show a profiit against allowable expenses, I just didn't realise I still had to declare it until now.

Just a question,if your expenses exceed income,technically it isn't an income as such,certainly as far as taxable income is concerned . Presumably you only have to show your tenancy agreement and bank statements showing gross rent to immigration so as far as they are concerned it is. Nice one.

34 minutes ago, nchuckle said:

Just a question,if your expenses exceed incom,technically it isn't an income as such,certainly as far as taxable income is concerned . Presumably you only have to show your tenancy agreement and bank statements showing gross rent to immigration so as far as they are concerned it is. Nice one.

It is an income, when using income to assess and application the UKVI only look at any income not any expenditure in the same way as they don't look at any mortgage payments a sponsor might be making.