Source of Savings Question

I will be applying for the spousal visa and I am using savings to meet the financial requirement. About 60% of my savings came from my late grandmother in the form of inheritance. Are there any tax implications in the UK with using the word inheritance verses gift or another term? Also, where it says "If applicable, detail the name, address and relationship of any third party who is the sources of the fund", would I need to put my grandmother's name/old address even if she is deceased?

No, just put that it was an inheritance and leave it at that. They just need to know you:
a) didn't obtain the money illegally
and
b) it is not a loan that needs to be repaid

Since the person the money came from is deceased, they don't think they would be considered a 'third party' - because 'third party' implies someone who has made a decision to give you the money for a particular reason (i.e. a wedding gift, to help with the visa etc.) - and in that case, you would need to include a letter from them stating that it is a gift and not a loan and does not need to be repaid.

So, I would probably fill out as follows:
3.75
a) (name of the bank)
b) Family inheritance
c) N/A
etc.

If you have any paperwork that shows your entitlement to the inheritance, you could always include that as well.

Are there any tax implications in the UK with using the word inheritance verses gift or another term?

There are no tax consequences whether a gift or an inheritance.
You have to be honest on your application though so if it was an inheritance, that's what you should put.

 

Also, where it says "If applicable, detail the name, address and relationship of any third party who is the sources of the fund", would I need to put my grandmother's name/old address even if she is deceased?

I would give that information and put late grandmother as the relationship. 
It is a good idea to include any paperwork that you may have pertaining to the inheritance, as ksand mentioned, but it's not mandatory.

Hi guys

I just had a question slightly related to this topic

I've heard a immigration lawyer say savings are judged on a individual basis and its at the discretion of the ECO if he or she wants to accept them or not? Implying its not as strong of a way to apply as it would be if you was working full time..

Is this true?

Also if your a carer on carers allowance then you need less savings to meet your adaquate allowance then you would if savings alone. Thats true right? And does a carers application get decided any sooner? Does the catergory you apply through make any difference to time?

Savings is by far the easiest application.  What the other person said is non-sense.

The only application that would take a *tiny* but longer to process is self employment as there is a big stack of required documents.  Using carers allowance does not speed the process or slow the process.

Hi guys

I just had a question slightly related to this topic

I've heard a immigration lawyer say savings are judged on a individual basis and its at the discretion of the ECO if he or she wants to accept them or not? Implying its not as strong of a way to apply as it would be if you was working full time..

Is this true?

Each of the various methods of meeting the financial requirement is equally valid. You either meet the criteria or you don't.  Every application is judged on an individual basis regardless of the category. Each one is open to refusal.
What is important is the strength of the evidence you present.  If the evidence is solid and presented according to the guidance there would be no reason to refuse.

Some are more difficult to prove, for example self employment but that is due to the volume of the documentation required. Savings is the easiest to prove.

Is a letter from a family member stating its a wedding gift enough evidence for savings in your opinion?

Yes, that's fine - that's exactly what you are supposed to send.

The important thing to include is the 6 full months of original bank statements showing that the savings balance has not dropped below £62,500 at all during the 6 months (not even for one day).


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In fact, this is what it says in the official guidance:

Under section 7.1 a gift from a third party can be the source of cash savings held by the applicant, their partner or the couple jointly, provided that the money has been held by them for at least the 6 months prior to the date of application and is under their control.

And:

7.4.1. Savings must be held in cash in a personal bank/savings account in the name of the applicant, their partner or the couple jointly. The savings can be from any legal source, including a gift from a family member or other third party, provided the source of the cash savings is declared. The applicant and/or their partner must confirm that the money, which cannot be borrowed, is under their control and evidence that it has been held in their bank account for at least the 6 months prior to the date of application.


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For adäquate maintenance you only need about 20k i think it was...?

For adäquate maintenance you only need about 20k i think it was...?

Or however much it is.

For adequate maintenance, I don't believe there is a set minimum savings you need to hold.

For a couple without children you need to show you have at least £114.85 per week left over after paying rent and council tax.

So, say rent and council tax are £100 per week, you would need to show £214.85 per week available to you.

Assuming you are covering the full 2.5 years with savings you would need:

130 weeks x £214.85 = £27,930.50.

However if you have no council tax or rent to pay, then you would only need £14,930.50 in savings (to last 2.5 years).


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Yeh thats how i calculated it. Thanks for the reassurance

Do you need to still be on carers allowance if you applied using that when they look at the case or is it fine for your situation to change between submitting and them getting around to look at it?

Do you need to still be on carers allowance if you applied using that when they look at the case or is it fine for your situation to change between submitting and them getting around to look at it?

The circumstances would have to be the same at least until the applicant has entered the UK.

Are you sure about that? So if i was thinking of giving up CA to someone else and taking up employment i should wait till i hear back?

Are you sure about that? So if i was thinking of giving up CA to someone else and taking up employment i should wait till i hear back?

Yes - they can cancel your visa at the border if your circumstances have changed since you applied for the visa, as that would mean you no longer qualify to enter under the spousal visa rules.

See page 57 of this document, refusal under paragraph 321(ii): https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/607625/GGFR-Section-3-v28.pdf#page57


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