1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

FLR M (Self Employed Financial Requirements)

Discussion in 'UK Visa and Immigration Help' started by ras911, Mar 13, 2019.

  1. ras911
    Offline

    ras911 Member

    Hi

    About to start this process
    Anyone got a checklist for idiots for self employment financial requirements as i only started Ltd company from Sept 17
    The GOV notes look soooo confusing

    Any help appreciated

    KR

    Rich
  2. Mr Chris
    Offline

    Mr Chris New Member

    Were you self empoyedlbefore you were Ltd co? If so you could submit accounts from last full financial year. Im presuming if you were employed you would submit last 12m payslips. From my experience they want to see proof of trading, bank statements, accounts, tax due/paid also if a separate private bank account is held they want to see funds transfered from bus to private account.
    There seems to be a lot of info required but they can see proof of trading, tax paid, money transfers etc from your bank statements. Hope that helps...

    The checklist is as follows:
    • Evidence of the amount of tax payable, paid and unpaid for the last full financial year
    • Annual self-assessment tax return to HMRC (copy or print out) for the last full financial year, or for the last two such years (where those documents show the necessary level of gross income as an average of those two years)
    • Statement of Account (SA200 or SA302) for the last full financial year, or for the last two such years (where those documents show the necessary level of gross income as an average of those two years)
    • Each partner's Unique Tax Reference Number (UTR) and/or the UTR of the partnership or business
    • Personal bank statements for the same 12-month period as the tax return(s) showing that the income from self-employment has been paid into an account in the name of the person or in the name of the person and their partner jointly
    • Evidence of ongoing self-employment through the provision of at least one of the following: a bank statement dated no more than three months earlier than the date of application showing transactions relating to ongoing trading, or evidence dated no more than three months earlier than the date of application of the renewal of a license to trade or of ongoing payment of business rates, business-related insurance premiums, employer National Insurance contributions or franchise payments to the parent company
    One of the following:
    • If 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 Recognised Supervisory Body (as defined in the Companies Act 2006) or is a member of the Institute of Financial Accountants (IFA)
  3. ras911
    Offline

    ras911 Member

    Hi Mr Chris

    No i was salaried PAYE

    Ok thanks for the response seems bit easier in plain english the help document seems to confuse things (or maybe its me)

    KR

    R
  4. Mszaina
    Offline

    Mszaina New Member

    Hi Mr. Chris,

    Thanks for sharing the requirements for self employed. We are in the stage of completing the documents. However, for my husband i find it complicated. His self employed but was out of the country from September 2018 to May 2019

    So, during this time he doesnt have income, payslip and bank statement. Currently he has taxable payslip from June 2019 to February 2020 with total of 19k. Can we submit this or we need the full financial year from 2017 to 2018.

    Regards,
    Zaina

Share This Page