Set LR - Application requirement?
Posted: Wed Jun 29, 2016 11:22 am
I came to the UK as a student in September 2005 and got in to Tier 1 General in 2011 under £40k earnings threshold.
I applied for a Set LR last Tuesday and the case worker held my documents for further checks where I also had to fill in a questionnaire on self employment and so on.
I was able to show £40k in my initial application and got my visa for Tier 1 which was based on self employment and PAYE. I paid the tax on the self employment earnings i showed to the HO - although I included a cost of the car in that tax year which reduced my net profit for that tax year - which would result in a discrepancy. However the sale of that car was captured in the next tax year, so in accounting terms and tax terms my accountant said it is not an issue and no amendments needs to be made.
I however I made a loss in the 2nd tax year and stopped doing car export business. in the 3rd tax year i did some consultation work as self employment and PAYE and earned £40k which was submitted to the HO and got my extension in 2013. I then focused on my fulltime employed job and was not able to meet the £40k threshold. I was not aware or not aware if it is compulsory to earn £40k through out the 5 years even thou you are applying on the 10 year basis. I am not sure the on the outcome of this?
Your valuable thoughts and comments are welcome please.
I applied for a Set LR last Tuesday and the case worker held my documents for further checks where I also had to fill in a questionnaire on self employment and so on.
I was able to show £40k in my initial application and got my visa for Tier 1 which was based on self employment and PAYE. I paid the tax on the self employment earnings i showed to the HO - although I included a cost of the car in that tax year which reduced my net profit for that tax year - which would result in a discrepancy. However the sale of that car was captured in the next tax year, so in accounting terms and tax terms my accountant said it is not an issue and no amendments needs to be made.
I however I made a loss in the 2nd tax year and stopped doing car export business. in the 3rd tax year i did some consultation work as self employment and PAYE and earned £40k which was submitted to the HO and got my extension in 2013. I then focused on my fulltime employed job and was not able to meet the £40k threshold. I was not aware or not aware if it is compulsory to earn £40k through out the 5 years even thou you are applying on the 10 year basis. I am not sure the on the outcome of this?
Your valuable thoughts and comments are welcome please.