Q&As

Can a director of a ‘specified limited company’ rely on salary and dividend income from the last six months alone towards meeting the minimum income threshold under Appendix FM, or do they have to wait until the completion of the company’s next ‘full financial year’ (where the earnings from the last full financial year were not sufficient to meet the threshold)?

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Produced in partnership with Gary McIndoe of Latitude Law
Published on LexisPSL on 22/02/2018

The following Immigration Q&A Produced in partnership with Gary McIndoe of Latitude Law provides comprehensive and up to date legal information covering:

  • Can a director of a ‘specified limited company’ rely on salary and dividend income from the last six months alone towards meeting the minimum income threshold under Appendix FM, or do they have to wait until the completion of the company’s next ‘full financial year’ (where the earnings from the last full financial year were not sufficient to meet the threshold)?

A ‘specified limited company’ is defined in paragraph 9(a) of Appendix FM-SE of the Immigration Rules as follows:

‘(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

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