Hi All,
We are looking into the financial requirement information and the limited company requirements are confusing us a bit.
Appendix FM-SE Section 2.(d) States:
Where the person is a director of a limited company based in the UK, evidence that the company is not of a type specified in paragraph 9(a). This can include the latest Annual Return filed at Companies House.
Appendix FM-SE Section 9.(a) States:
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.
My fiancé works for a limited company, but it is NOT a specified limited company according to FM-SE 9.(a). However, I just want to be sure that we do not need to submit the company's Annual Return filed at Companies House as part of our application. When reading FM-SE 2.(d), it appears you only need to submit the Annual Return if you are a director (NOT if you are just an employee) of a limited company.
Is this correct? Or would we still need to submit the Annual Return?