15-10-14 – Statement of Changes in the Immigration Rules – Tier 1 (Investor) raised to £2 million

Further to our previous article this is to confirm that it has just been announced in the House of Commons that the Tier 1 (Investor) route is being reformed following the Migration Advisory Committee (MAC) recommendations from February. The minimum investment threshold is being raised from £1 million to £2 million. It is not yet clear, as the Statement of Changes and the consultation document have yet to be published, however it appears that the Tier 1 (Investor) route will be reformed in two stages: 1. The investment threshold will be raised from £1 million to £2 mi...

15-10-14 – Statement of Changes in the Immigration Rules Published

The Statement of Changes in the Immigration Rules presented to parliament earlier today has now been published. There are significant changes to many of the rules. Please find below a breakdown of the main changes: Tier 1 of the Points-Based System Tier 1 (Investor) The investment threshold of £1 million is being raised to £2 million; The full investment sum must be invested in prescribed forms of investment (share or loan capital in active and trading UK companies, or UK Government bonds) instead of the current 75%; If the investment falls then there is no longer a requirem...

14-10-14 – Tier 1 (Investor) – likely to be increased to £2 million imminently

In February of this year the Migration Advisory Committee’s (MAC’s) report on the Tier 1 (Investor) route investment thresholds and economic benefits recommended that significant changes be made to the route. As the end of the year is fast approaching and now that the Immigration Act 2014 is being implemented it is expected that the recommended changes will be incorporated into the Immigration Rules imminently. To remind you the MAC’s recommendations are as follows: Minimum investment threshold • That the minimum £1 million threshold be increased to £2 mi...

13-10-14 – HMRC launch a new disclosure facility

HMRC have launched a credit card sales campaign. This opportunity gives a business that accepts credit and debit card payments, but that have not declared all their UK tax liabilities, the opportunity to bring their tax affairs up to date on preferential terms.  There is no end date for this campaign. A business that wishes to take part should contact HMRC by completing the notification form or calling the credit card sales campaign helpline (0300 123 9272).  It should then fill in the disclosure form and pay the tax owed within four months from the date HMRC acknowledge the business...

05-10-14 – UK-Ireland Visa Deal

On the 6th of October 2014 the Home Secretary signed a Memorandum of Understanding with the Republic of Ireland. This will allow visitors from India and China to travel more easily between the United Kingdom and the Republic of Ireland on a single visit visa. The scheme will start in China by the end of October 2014 and in India soon afterwards. It is expected that more than 10,000 visitors from China and India will use the scheme.

27-08-14 – Migration Statistics Quarterly Report, August 2014

The Office for National Statistics has today published its Migration Statistics Quarterly Report, August 2014. The report highlights a number of key figures including the following: Work visas granted have risen by 10% in the year ending June 2014, compared to the previous year. ‘The increase in work visas was largely accounted for by skilled work (+11,744).’  Student visas granted have risen by 7% in the year ending June 2014, compared to the previous year. ‘Reflecting higher levels of university-sponsored applications.’  560,000 people immigrated to the...

05-08-14 – HMRC change of policy on UK debt secured by foreign income and gains

HM Revenue & Customs (HMRC) have announced fundamental changes affecting all UK resident but non-UK domiciled individuals (and some trustees and other relevant persons) who were planning to (or have already used) untaxed foreign income or gains as security for loans used in the UK. Previously HMRCs’ widely published approach was that, in commercial circumstances, such income or gains would not be treated as remitted. In an unexpected change, with no advanced warning, HMRC have withdrawn this ‘concessionary’ treatment. From 4th August 2014 HMRC take the view that it is not p...

28-07-14 – David Cameron: ‘We’re building an immigration system that puts Britain first’

British Prime Minister David Cameron, published an article in The Telegraph outlining new action that the government will take in UK immigration. Some of them have been already introduced, however, some of them are new, for example those related to EEA nationals. To summarise, the following was announced: Tier 4 Sponsor License – if 10% of those they issue CAS’s (Certificate of Sponsorship) to are refused, the college will lose their sponsor license; From this month, those who are here illegally cannot be issued with driving licenses, 3,150 have already been withdrawn; From N...

24-07-14 – Home Affairs Committee Report - 'Sham marriage ‘industry’ increasing at an alarming rate'

Today the Commons Home Affairs Committee published its report on the work of the Immigration Directorates (October-December 2013). The report found that the sham marriages industry is increasing at an alarming rate, and that they believe that the Home Office does not have a true understanding of the scale of the problem. The report is also concerned as sham marriages can lead to rights of residence not only to one person but to many other family members. The report made the following recommendations: The Home Office should provide training on how to identify  potential sham marriages...

22-07-14 – Russian property owners with a home or property in London have made record returns on their investment

Russian property owners with a home or property in London have made record returns on their investment, owing to a combination of the capital’s recent housing market boom and a weakening rouble. The value of a luxury property in London has appreciated by 102.7pc over the last five years for Russian homeowners as at the same time as property prices rising the number of roubles to the pound continues to increase. Russian investors have capitalised on a 71pc rise in prime central London house prices, the strong pound and the rouble’s fall, the rouble has weakened by a third over the...