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: 22 February 2018
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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)

Gary McIndoe
Gary McIndoe

Latitude Law

Gary has practised UK-inbound immigration, nationality and refugee law for more than 25 years. His first taste of work in his field was at the Home Office, where his role included policy work on the return of Hong Kong to Chinese control in 1997.

He qualified as a solicitor in 2000 and founded Latitude Law in 2007; the firm has grown steadily since then and currently has a 15-strong legal team undertaking a full range of immigration work.

Latitude has recognised expertise in guiding businesses, from start-ups to mulitnationals, through sponsor licensing and related regulatory processes. It is also noted for its work with high-net-worth individuals, with particular focus on the sole representative of overseas business, innovator and start-up visa categories.

Gary and his team have developed strong links with exceptionally talented individuals in a burgeoning regional tech sector. Latitude also continues to take on complex asylum and deportation work. The firm has a satellite office in London and a subsidiary business in Brussels. Gary is registered as a foreign lawyer with the Brussels Bar.

Gary is an AILA international associate and has contributed to panels at the organisation’s global and European conferences in recent years. He is chair of trustees of Electronic Immigration Network, a charity providing information services in the sector, and a patron of Middle Eastern human rights charity Salam DHR. In 2021 he co-authored, with Gemma Tracey, a practical guide to deportation (Law Brief Publishing).


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Jurisdiction(s):
United Kingdom
Key definition:
Limited company definition
What does Limited company mean?

Three of the main types of company available under the CA 2006 are limited companies, namely the private company limited by shares, the public company limited by shares, and the (private) company limited by guarantee. All are distinguished by the limited liability of their shareholders.

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