Post
by attahaas » Tue Mar 31, 2015 4:45 am
@ Younameit
As you already know, the guidance allows "joining/taking over an existing business". If it's there means, the HO/HMRC should have a specific procedure to takeover an existing business without the money directly going to the owner. So, there may be a workaround solution for your situation.
The following is just my opinion and I am not a qualified accountant.
You could first join the company as a director and invest your money as unsecured director's loan. So, now the money belongs to the "company". The previous owner/director sells her shares to the "company" and collects the money from the business account. Now, the "company" hands over all the shares to you as the new director - here is the tricky part as I am not sure (I) if the company buying shares from a director considered as an eligible expense and (ii) if the "company" can give you the shares for free. Assuming it does, you get all the shares of the company and the previous director resigns. In this entire scenario, you are only dealing with the "company" and not with any person per se.
OR
You open a Private Limited Company, invest the money as director's loan, then your company buys the other company for all its assets and shares for 200K. Then there should be a way similar to the above where you can claim all shares.
You should find something along the above lines or in between them. Discuss this with a professional accountant and see if there is a viable option.
•12-Feb-2015: Applied online (Team), 200K, India
•13-Feb-2015: Submitted documents and biometrics
•25-Feb-2015: Received email saying that they need more time
•03-Mar-2015: Interviewed separately
•05-Mar-2105: Received docs and passport with visa stamped!