Question re: financial requirement for FLR - M

Hi Everyone,

I am in the middle of assembling my application for FLR - M. We're using my husband's income to meet the financial requirement. He is self-employed and has his own limited company. We're using his unaudited statements for the last year they were done, but this is for the tax year ending 31 Jan 2017. His new statements aren't due until the end of this month, which is after my visa expires, so it is not an option to wait for them. Does anyone know if it's bad to use these for my application? As in, they're just too old? Thanks in advance for any advice.

Self-employment is a horrible category to apply under due to the sheer volume of required documents.

Do you work?  If so, do you make over the required amount so you don't need to use his income?

He needs to use his most recent fiscal year to sponsor you.  If that year ended on January 31st, then that's the year he uses. 

Do you have savings over £62.5k that you could use?

If you don't work or have any other income and you have no option but to use his self employment, can he put a rush on his accounts?

Thank you for the replies! I do work, but I am self-employed also and what I make doesn't meet the minimum requirement. We also don't have that much in cash savings either, not even half that amount. My husband's accountant only asked for his statements this week (as his tax isn't due until October), so there is not really any chance of getting the accounts done in time. We will just have to take our chance with the old accounts. We also have all his invoice statements from THIS past year we could send to show the money he's receiving, in addition to all the bank statements to cover not only that last fiscal year, but for the more recent time period as well. Should we do something like that, or will that not work?

You're totally right, kfdancer . . . this is a horrible category to apply under and I wish we had another option. Sigh.

Thank you for the replies! I do work, but I am self-employed also and what I make doesn't meet the minimum requirement. We also don't have that much in cash savings either, not even half that amount. My husband's accountant only asked for his statements this week (as his tax isn't due until October), so there is not really any chance of getting the accounts done in time. We will just have to take our chance with the old accounts. We also have all his invoice statements from THIS past year we could send to show the money he's receiving, in addition to all the bank statements to cover not only that last fiscal year, but for the more recent time period as well. Should we do something like that, or will that not work?

You're totally right, kfdancer . . . this is a horrible category to apply under and I wish we had another option. Sigh.

We have seen a similar situation on the forum before. The advice given was to quickly find an accountant who would be prepared to do a rush job on the required paperwork. Iirc, the member found someone and the books got done in time.
And I really hate to say this but it was really your and your husband's responsibility (not the accountants) to get off mark in time, knowing that the application was coming and that UKVI are incredibly particular.

I would try to explain the importance of the situation and if your accountant can't accommodate you, have a look online to see if you can find one who can.
Here are a couple that popped up right away.

https://quickbooks.intuit.com/uk/find-an-accountant/

https://www.handpickedaccountants.co.uk/?mh_matchtype=b&mh_keyword=%2Bfind%20%2Baccountant&mh_adgroupid=48267223142&gclid=Cj0KCQjwibDXBRCyARIsAFHp4foSjDdUWI02jKyw28RPa6rkco54VzPLubbDiwHHcMZkuRhPw50QEJ4aAilkEALw_wcB

What is your husbands full financial year?

Kfdancer, the full financial year is Jan 31 to Jan 31, and he's not due to pay tax until end of October. That is why he was confident (and still is) that his last unaudited accounts from 31 Jan 2017 would work.

Larrabee, I appreciate your replies and the links, thank you. I am going back and forth between him and this forum and he is adamant that what he has now will work. I myself don't know what to think.

I know very little about the self employment categories but this is how the guidance reads.

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) Original 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 and tax credit.
(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.

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

It's important to understand that UKVI stipulations are completely different from those of HMRC.
So although by the rules of HMRC his tax may not yet be due, to meet the requirements of UKVI, that tax must have already been paid.

Cool, sounds like you’ve got it under control.  Last years accounts works!

Cool, sounds like you’ve got it under control.  Last years accounts works!

So are you saying they don't have to have accounts from the year ending Jan 31st 2018? Because that would be the most recent year.
The way I am reading things, Matilda's husband's accounts are for the year ending Jan 31st 2017 which is not the last full financial year.

OMG, how did I not notice that?!?

Matilda, you definitely need the year through 2018!

OK, thanks to you both. I'm not sure how I'll handle this. My husband is saying there's no chance the taxes will be done in time. Feeling a bit doomed now. I really dropped the ball. I have a baby, but that's no excuse. Will have to start thinking about packing up.

OK, thanks to you both. I'm not sure how I'll handle this. My husband is saying there's no chance the taxes will be done in time. Feeling a bit doomed now. I really dropped the ball. I have a baby, but that's no excuse. Will have to start thinking about packing up.

It's likely that if the application was unsuccessful they would put you on the 10 year path to ILR in view of the (presumably) British baby. That's not ideal but you wouldn't have to leave.
And I think you are able to revert to the 5 year track once you meet the criteria again.

But honestly, why not at least try to make it in time? When does your current leave to remain expire?

OK, thanks to you both. I'm not sure how I'll handle this. My husband is saying there's no chance the taxes will be done in time. Feeling a bit doomed now. I really dropped the ball. I have a baby, but that's no excuse. Will have to start thinking about packing up.

Really really really try.  Pay extra to get someone to turn the accounts around ASAP.

Yes, they’ll put you on the 10 year path if you are truly unable to meet the financial requirement but that is an extremely long expensive path.