Your wife and child cannot switch from a visitor visa to a Spouse visa within the UK and will instead have to return to the US and apply from there.
The minimum income requirement where there is a wife and a child is £22,400 taxable income.
For a self-employed person this is your net profit (income minus allowable deductions to give the amount you will declare for tax purposes). There is no grey area with regard to the amount - this is a minimum amount and your income will therefore not qualify.
You can, however, also use savings (or you can apply based solely on savings if you prefer. If solely using savings then the amount required would be £72,000.
If you have earned £22,000 declared taxable income then this will require you to also show £17,000 savings.
The equation to be used is to work out how much less than £22,400 your income will be, multiply that shortfall by 2.5 and then add £16,000. This will be the amount of savings required to meet the financial requirement by combining income and savings.
Please note that the minimum level of savings must be in your account at ALL times for a period of no less than 6 months.
Please let me know if this answers your questions.
So to be more accurate I have earn t £22,600 ,so this wont make us eligible just please clarify?
Also if I went solely on saving's do I need this in the bank for 6 months before we apply for visa?
If the £22,600 figure is your net profit (the amount declared to HMRC) then this will be ok.
As a self-employed person you need to claim for the most recent tax period, show current employment, evidence registration as self-employed and evidence NI payments. An accountant can be useful to confirm earnings but make sure the accountant is suitably professionally qualified and registered (ideally CIMA or equivalent).
With regard to savings, they would have to be in your account as a minimum balance at all times for the 6-month period.
There is discussion about this at present with regard to lowering the requirement, although there is a general feeling that this requirement represents discrimination as EEA citizens do not have an English language or financial requirement when coming to the UK with partners.
Does this answer your questions Pat?
many thx for your answers.
one final question
If self employed do we need just the last 12months tax credits or the last 18 months.
sorry...picking up all sorts of wrong words from confusing forums...
I mean do we need to show immigration my earning Self Employed for 12 or 18 months
I think through an employer its 6 months worth but different for self employed.
For self-employed income you need to evidence the most recent tax period. If you complete your returns through self-assessment using the standard tax year of 6 April to 5 April then it would be for the tax year ending 5 April 2013. You should also evidence that you are currently employed.
The Home Office provide guidance on the Financial requirement and it is currently located here:
http://bia.homeoffice.gov.uk/sitecontent/documents/policyandlaw/IDIs/chp8-annex/section-FM-1.7.pdf Start at section 5.5 on page 23.
Read again for a useful edit I made if your circumstances require it - the main guidance should be your primary resource.
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