AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Indefinite leave to remain (ILR) is permission to stay in the UK without a time limit, and it does not carry the "no recourse to public funds" condition attached to routes such as Skilled Worker (Home Office public funds guidance). The work limits of your old visa, such as the Skilled Worker cap of 20 hours a week in your own business, belonged to that visa; once your eVisa shows ILR, starting as a sole trader or forming a company is a tax and company-law question rather than an immigration one.
For many Nigerian professionals in the UK, ILR is the moment a side business can become a full business. On a Skilled Worker visa, the job is tied to a sponsor; on ILR, it is not. This guide sets out what changes and what stays the same, with the steps to start.
What changes at ILR
| On a Skilled Worker visa | After ILR | |
|---|---|---|
| Your own business | Up to 20 hours a week alongside the sponsored job, with conditions on the type of work (GOV.UK) | No sponsor; the Skilled Worker conditions no longer apply |
| Leaving your employer | Affects your visa | Does not affect your status |
| Public funds | No recourse to public funds condition | Home Office guidance lists ILR as not carrying that condition (unless there is a maintenance undertaking, for example some adult dependent relatives) |
| Proof of status | eVisa | eVisa showing settled status |
Check your eVisa in your UKVI account to confirm the status shown is indefinite leave and note any conditions listed. If your record is wrong, GOV.UK says UKVI aims to fix most eVisa errors within five working days.
What stays the same
- Tax rules. You register with HMRC and pay tax on profits exactly as any resident would.
- Company law. Directors must verify their identity with Companies House and file on time.
- Banks' checks. Banks still check identity, address and history; settled status should help with residence questions.
- Professional rules. Regulated work (care, law, accountancy, finance) needs the regulator's approval regardless of immigration status.
Sole trader or limited company
Both are open to you. A sole trader registers for Self Assessment once self-employed earnings pass £1,000 in a tax year, and must register by 5 October after the tax year in which they started (GOV.UK). A limited company has to be incorporated at Companies House, has its own filing duties and pays Corporation Tax on its profits. See sole trader or limited company for the trade-offs.
Your family members
ILR is personal. If your partner or children are still on dependant visas, their conditions follow their own grants until they settle in their own right. A partner who is a Skilled Worker dependant can work, except as a sportsperson or coach, according to GOV.UK; if your partner will help run the new business, check their own status first and see starting a business on a dependant visa. Employing a family member in the business brings payroll duties like any other hire.
Steps to start
- Confirm your eVisa shows ILR and save a share code.
- Decide the structure: sole trader, company or partnership.
- If a sole trader, register for Self Assessment; if a company, incorporate and verify your identity.
- Open a separate business account.
- Check insurance, licences and any regulator approval for your trade.
- Tell your employer if you are leaving, and check any notice period or non-compete clause in your contract.
Example (illustration only)
Kemi, a pharmacist, gets ILR in March 2026 after five years on a Skilled Worker visa. She had been doing locum shifts within the 20-hour limit. In May she leaves her employer, registers as a sole trader, and books a full week of locum work. Her earnings from 6 April 2026 fall in the 2026-27 tax year, so she has until 5 October 2027 to register, though she registers at once to stay organised.
If you hold a professional role
Nurses, doctors, pharmacists, social workers and accountants often move to agency, locum or practice work after ILR. The immigration side is simpler, but the professional side is unchanged: your registration with your regulator must be current, your indemnity insurance must cover self-employed work, and some agencies will ask you to work through your own limited company rather than as a sole trader. Ask before you choose the structure, so you do not register twice.
Things to plan for
- Income becomes irregular; keep three to six months of costs if you can.
- Tax is not deducted at source; set aside a share of each payment for your bill.
- Mortgage lenders often want accounts or tax returns from self-employed applicants; if you plan to buy, time the move with that in mind.
- If you plan to apply for citizenship later, keep records of your time in the UK.
This is information about published rules, not immigration or tax advice.
Leaving the UK for long periods
Founders who start a business with clients in Nigeria often plan longer stays there. ILR can be affected by long absences from the UK, so check the current rule on GOV.UK before you plan a long trip, and keep the business's UK obligations covered while you are away.
Where Pryme fits
A new business can open a Pryme Business Account from any country, holding pounds and naira together, with Invoicing for clients. The Finance agent prepares a running estimate of what to set aside for tax for you to check.
Questions people ask
Can I be self-employed with ILR?
Yes. ILR is permission to stay without a time limit, and the work conditions of your old visa no longer apply. Check your eVisa shows ILR.
Do I need to tell the Home Office I am self-employed?
Not as a condition of ILR. You do need to register with HMRC and, for a company, with Companies House.
Can I claim benefits as a self-employed person with ILR?
Home Office guidance says ILR does not carry the no recourse to public funds condition, unless there is a maintenance undertaking. Eligibility for each benefit has its own rules.
When must I register with HMRC after leaving my job?
By 5 October after the end of the tax year in which you started self-employment, once earnings pass £1,000.
Sources
- Home Office: Public funds caseworker guidance, version 21.0 (9 Apr 2025) · accessed Oct 2026
- GOV.UK: Skilled Worker visa, taking a second job · accessed Oct 2026
- GOV.UK: Skilled Worker visa, your partner and children · accessed Oct 2026
- GOV.UK: eVisas · accessed Oct 2026
- GOV.UK: Set up as a sole trader (updated 5 Oct 2026) · accessed Oct 2026
- GOV.UK: Register for Self Assessment (updated 8 Oct 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.