Self employed director

We have to apply for FLR(m) for my wife next year. Is there any guidance around on how to do it as a self employed director of my own Ltd company? As it's just me and the wife own the company can we use the money in the company bank account as the savings route? After all we can just draw it all out if we need to.

As you are not applying until next year, I would move £62,500 of the company savings to a personal savings account and use that to qualify for the visa at least 6 months prior to the application.

You cannot combine savings and self-employed income, so you'll need the full £62,500 in a personal account.

Thats one plan, just loaning myself the money for 6 months from the company.
Is there any guidance on doing the application as a self employed director. We have been paying ourselves a total of 24K each for the last couple of years made up of "salary" and "dividends", so earning the money isn't an issue, it's just presenting it correctly.

You betcha.

The trouble with self-employment is the enormous amount of paperwork involved.  Miss one document and the visa will be refused.  You are also limited to using the most recently completed financial year for qualification.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/636618/Appendix_FM_1_7_Financial_Requirement_Final.pdf

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.
(b) All of the following must be provided:
(i) Company Tax Return CT600 (a copy or print-out) for the last full financial year and evidence this has been filed with HMRC, such as electronic or written acknowledgment from HMRC.
(ii) Evidence of registration with the Registrar of Companies at Companies House.
(iii) If the company is required to produce annual audited accounts, such accounts for the last full financial year.
(iv) If the company is not required to produce annual audited accounts, unaudited accounts for the last full financial year and an accountant’s certificate of confirmation, from an accountant who is a member of a UK Recognized Supervisory Body (as defined in the Companies Act 2006) or who is a member of the Institute of Financial Accountants.
(v) Corporate/business bank statements covering the same 12-month period as the Company Tax Return CT600.
(vi) A current Appointment Report from Companies House.
(vii) One of the following documents must also be provided:
(1) A certificate of VAT registration and the VAT return for the last full financial year (a copy or print-out) confirming the VAT registration number, if turnover is in excess of £79,000 or was in excess of the threshold which applied during the last full financial year.
(2) Proof of ownership or lease of business premises.
(3) Proof of registration with HMRC as an employer for the purposes of PAYE and National Insurance, proof of PAYE reference number and Accounts Office reference number. This evidence may be in the form of a certified copy of the documentation issued by HMRC.
(c) Where the person is either listed as a director of the company, or is an employee of the company, or both, and receives a salary from the company, all of the following documents must also be provided:
(i) Payslips and P60 (if issued) covering the same period as the Company Tax Return CT600.
(ii) Personal bank statements covering the same 12-month period as the Company Tax Return CT600 showing that the salary as a director or employee of the company (or both) was paid into an account in the name of the person or in the name of the person and their partner jointly.
(d) Where the person receives dividends from the company, all of the following documents must also be provided:
(i) Dividend vouchers for all dividends declared in favour of the person during or in respect of the period covered by the Company Tax Return CT600 showing the company’s and the person’s details with the person’s net dividend amount.
(ii) Personal bank statement(s) showing that those dividends were paid into an account in the name of the person or in the name of the person and their partner jointly.
(e) For the purposes of paragraph 19(a), evidence of ongoing employment as a director or other employee of the company or of ongoing receipt of dividend income from the company must be provided. This evidence may include payslips (or dividend vouchers) and personal bank statements showing that, in the period since the latest 12-month period covered by the Company Tax Return CT600, the person’s salary as a director or employee of the company (or both) (or dividend income from the company) was paid into an account in the name of the person or in the name of the person and their partner jointly. Alternative evidence may include evidence of ongoing payment of business rates, business-related insurance premiums or employer National Insurance contributions in relation to the company.

The above is from this:

https://www.gov.uk/guidance/immigration-rules/immigration-rules-appendix-fm-se-family-members-specified-evidence

A bit of light reading before bed. 

Alternatively, if you use cash savings you only need to provide:

-  6 months of bank statements showing that £62,500 has been in your account for the whole time
 - a statement of the source of the funds.

Thanks for that, most of that paperwork we have or I'll get the accountant to provide.
We did savings for the initial spouse entry and for sure it's the easiest way. I'll likely end up doing that, just trying to put as much as possible in to a pension to reduce taxes and then still have enough for the savings requirement.