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Thanks Ash009 for ur reply....Ash009 wrote:How many people have you employed and in what capacity/positions?
Ash009 wrote:All funds spent on the business like, wages (except director's remunerations), stationery, adverts, office rent e.t.c are counted as business expenses and are classed as investment funds. You will have to spend the whole 50k on the business in order to meet the investment criteria for extension of the visa.
Hope this helps.
ishfaqsangra wrote:I think you should be fine as you have spent almost £47000 on set up,marketing,office and staff(as company do need staff for growth and progress which could include different roles) so from my personal perspective if you spend £3000 more you should be fine
Just make sure you need to exclude your own remuneration if you have taken anything from Company's account then you need to put that much again as Directors Loan to balance it.
This is my personal suggestion
No Momi, FKS21177 is right. This visa rules are very complicated and that's why all the accountant and solicitors have their own theory. I met with one solicitor and one accountant few weeks ago. Solicitor said have you invested money in first six months of your visa I said no he said game over and regarding the accountant he was not accepting Director's loan as an investment. I know according to guidance both are wrong but I think most of the people are like them in the market.Momi wrote:Why don't you read the policy guidance. It will save a lot of time. EmployeeS salaries count as investment otherwise you can't invest that much money.
Hats off for you accountant though. You found a brilliant star from whole UK.
@Momi Thanks for your reply....Momi wrote:Why don't you read the policy guidance. It will save a lot of time. EmployeeS salaries count as investment otherwise you can't invest that much money.
Hats off for you accountant though. You found a brilliant star from whole UK.
@Ahmed25... Thanks for your reply..Ahmed25 wrote:No Momi, FKS21177 is right. This visa rules are very complicated and that's why all the accountant and solicitors have their own theory. I met with one solicitor and one accountant few weeks ago. Solicitor said have you invested money in first six months of your visa I said no he said game over and regarding the accountant he was not accepting Director's loan as an investment. I know according to guidance both are wrong but I think most of the people are like them in the market.Momi wrote:Why don't you read the policy guidance. It will save a lot of time. EmployeeS salaries count as investment otherwise you can't invest that much money.
Hats off for you accountant though. You found a brilliant star from whole UK.
@ishfagsangra thanks for ur reply...ishfaqsangra wrote:1-From Accountants' point of view A Directors Loan is straightaway Investment,how can he/she say it is not investment?
but we need to spend it all anyway from Home office point of view/requirement.
2-Secondly, if business needs an employee for marketing purpose and we hire someone for marketing (to do marketing using any marketing tool ,door to door,office to office,in person,over the phone etc) for the establishment and growth of the business in that locality why it is not counted as investment?
3-Business not only needs offices and hardware but HR as well Hope it clears a little although ambiguity is always there with the Home Office Guidance