FLR(M) financial requirement HELP!

Hi:

I need to apply for my FLR(M) this week, and renew my 'unmarried partner' visa.

I have been researching and gathering documents for months, and thought that I was all set, but have now run into trouble.

I thought to meet the financial requirement I could use my income from self-employment. I am a freelance TV Producer, and go from project to project. I thought they looked at the gross income, which for me in 2019-2020 was £23,083. However, as I have now begun the on-line application, I am seeing they want 'gross taxable profits', and if I am not mistaken, that amounts to just £17,608. My accountant claimed business expenses, lowering my tax burden. So I am thinking that won't work.

Due to COVID and lock downs last year, I lost work, and income, but I don't assume they'd make any concessions for that?

In terms of 'cash savings', if I had to try that route, am I right in thinking we'd need to have £62,500? If that is the case, then we do not have enough.

I am panicking now, as my partner does not work, we are settled here, the kids are settled here, and I have been working and paying the bills. In the months after the financial year 2019-20, I have already earned in excess of £30,000, and keeping us going.

Any words of wisdom or guidance?

Thanks,
H

There appears to be a concession for loss of income due to COVID, but as it's something outside the usual process, I would recommend seeking professional advice if you are looking to pursue this route.

Changes to the minimum income and adequate maintenance requirement

If you’ve experienced a loss of income due to coronavirus up to 31 May 2021, we will consider employment income for the period immediately before the loss of income, provided the minimum income requirement was met for at least 6 months immediately before the date the income was lost.

If your salary has reduced because you’re furloughed we will take account of your income as though you’re earning 100% of your salary.

If you’re self-employed, a loss of annual income due to coronavirus between 1 March 2020 and 31 May 2021 will usually be disregarded, along with the impact on employment income from the same period for future applications.

https://www.gov.uk/guidance/coronavirus-covid-19-advice-for-uk-visa-applicants-and-temporary-uk-residents

Does your partner earn any income? Their income can also be combined with your self employment income.

Some forms of income can also be combined with savings, but I'm not sure if that's possible with self employment (the category is too complex for me to get my head around, I've been having a hard time reading lately).

Some forms of income can also be combined with savings, but I'm not sure if that's possible with self employment (the category is too complex for me to get my head around, I've been having a hard time reading lately).

Unfortunately, cash savings cannot be combined with self-employment income (page 44). 

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/957305/appendix-fm-1-7-financial-requirement-v6.0-ext.pdf

Thank you...

Can I combine the self employment earnings with employment earnings to meet the requirement?

H

From the document linked above:

Income under Category F or Category G can be combined with income from salaried and non-salaried employment, non-employment income and pension income in order to meet the financial requirement. However, unlike with other Categories, these sources of income must fall within the relevant financial year(s) in order to be included. Under Category F or Category G, all sources of income must fall within the financial year(s) relied on and must still be a source of income at the time of application. For example, to count income from property rental the income must have been received during the relevant financial year(s) and the property must still be owned by the relevant person at the date of application.

Where a couple are using their joint income to meet the financial requirement, all of this income must fall within the financial year(s) being relied on and must still be a source of income at the time of application. For example, if the applicant is in the UK with permission to work, to combine their salaried employment income with their partner’s self-employment income, they must provide evidence of the income received from this salaried employment during their self-employed partner’s relevant financial year(s) and evidence of ongoing employment at the date of application.