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Helpful member
For the non Lucrative visa for a non retired person, can I ask did anyone have to prove through a HMRC letter that they haved stopped work in the UK for the NLV application ? Has any one found away around this as the HMRC refusing to supply a letter until the end of tax year.
Thanks for any advice 😄
We successfully completed the NLV process in May 2021.
At no point was I asked to prove that I was no longer working in the UK.
Posted: Fri Feb 4, 2022 3:49pm
Helpful member
RichT wrote on Thu Feb 3, 2022 5:06pm:
We successfully completed the NLV process in May 2021.
At no point was I asked to prove that I was no longer working in the UK.
Thank you for the update. Can I ask how much is needed per person and dependent for the renewal which is the NLV for year 2 &3.
Also with having to have large amount of funds in the account for the NLV, at the end of the year can this be taxed on the personal tax. Thank you.
Any help is greatly appreciated
Posted: Fri Feb 4, 2022 8:10pm
Super helpful member
Earnings are taxed, as is any interest, but assets are not.
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Posted: Fri Feb 4, 2022 9:39pm
Helpful member
PeterC wrote on Fri Feb 4, 2022 8:10pm:
Earnings are taxed, as is any interest, but assets are not.
That's really great news thanks
Sammylouise wrote on Fri Feb 4, 2022 3:49pm:
Thank you for the update. Can I ask how much is needed per person and dependent for the renewal which is the NLV for year 2 &3.
Also with having to have large amount of funds in the account for the NLV, at the end of the year can this be taxed on the personal tax. Thank you.
Read more...
Any help is greatly appreciated
The amount has gone up slightly and it's now approx. €34,500 for a couple per year (I don't have a note of the exact amount), so at the renewal for Years 2 & 3, we need to be able to prove approx. €69,000.
Personal tax is only on income - which could be pension, rent, interest earned, etc. but not on actual assets - unless you have over €2 million when you become liable for 'wealth tax'.
Posted: Sun Feb 6, 2022 5:17pm
Helpful member
RichT wrote on Sun Feb 6, 2022 1:01pm:
The amount has gone up slightly and it's now approx. €34,500 for a couple per year (I don't have a note of the exact amount), so at the renewal for Years 2 & 3, we need to be able to prove approx. €69,000.
Personal tax is only on income - which could be pension, rent, interest earned, etc. but not on actual assets - unless you have over €2 million when you become liable for 'wealth tax'....
Read more...
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Thank you for your clarification on this. 🤩
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