Evidence of funds in last successful application

[mohammed1980]

Could any member please advise what exactly this means -
If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again


This is in the Guidance under Investment of Funds page 43.

Does it mean if money (200K) was made available by a third party, you do not have to show the evidence of the source of money?

[Mrchaany]

No
It means that if anyone shown investments fund proof or evidents in their initial Application they don't need to show again.

[mohammed1980]

No
It means that if anyone shown investments fund proof or evidents in their initial Application they don't need to show again.

Got it. Thanks a lot.

[mohammed1980]

I got confused with -
(ii) the viability and credibility of the source of the money referred to in Table 5 of Appendix A
and
If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again

Then how to prove the credibility of the source of money? Could anyone please advise - if a third party has made the funds available for the business, what is the evidence required.

@ZImba88, you are quite an expert, could you please advise.
Thanks

[moongesture]

I got confused with -
(ii) the viability and credibility of the source of the money referred to in Table 5 of Appendix A
and
If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again

Then how to prove the credibility of the source of money? Could anyone please advise - if a third party has made the funds available for the business, what is the evidence required.

@ZImba88, you are quite an expert, could you please advise.
Thanks

The statement covers table 5 of Appendix A & refer to the documents you are going to provide in order to claim points for "investment" . These documents must be "specified documents" and credibility lies in the assessment & genuineness of these documents. For Example your investment will only be consider credible if it reflects in the relevant set of your financial account(s) AND via transactions made by You (the applicant) from your personal to business account and these should be "readily identifiable transaction(s)".

This means that even a certified CA or Accountant prepare & certify your financial accounts this alone will not be acceptable until demonstrated via your business bank statement(s) which must reflect the investment as "Credible investment". The information you are proviing with application are mandatory but not limited.

[mohammed1980]

I got confused with -
(ii) the viability and credibility of the source of the money referred to in Table 5 of Appendix A
and
If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again

Then how to prove the credibility of the source of money? Could anyone please advise - if a third party has made the funds available for the business, what is the evidence required.

@ZImba88, you are quite an expert, could you please advise.
Thanks

The statement covers table 5 of Appendix A & refer to the documents you are going to provide in order to claim points for "investment" . These documents must be "specified documents" and credibility lies in the assessment & genuineness of these documents. For Example your investment will only be consider credible if it reflects in the relevant set of your financial account(s) AND via transactions made by You (the applicant) from your personal to business account and these should be "readily identifiable transaction(s)".

This means that even a certified CA or Accountant prepare & certify your financial accounts this alone will not be acceptable until demonstrated via your business bank statement(s) which must reflect the investment as "Credible investment". The information you are proviing with application are mandatory but not limited.

Thanks a lot

[Mrchaany]

[quote="mohammed1980"][quote="abdhriz"][quote="mohammed1980"]I got confused with -
[b](ii) the viability and credibility of the source of the money referred to in Table 5 of Appendix A[/b]
and
[i]If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again[/i]

Then how to prove the credibility of the source of money? Could anyone please advise - if a third party has made the funds available for the business, what is the evidence required.

@ZImba88, you are quite an expert, could you please advise.
Thanks[/quote]
[quote="mohammed1980"]I got confused with -
[b](ii) the viability and credibility of the source of the money referred to in Table 5 of Appendix A[/b]
and
[i]If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again[/i]

Then how to prove the credibility of the source of money? Could anyone please advise - if a third party has made the funds available for the business, what is the evidence require
For Third Party investment transactions and director loan agreement you need proper advice for Business solicitor or accountant.

@ZImba88, you are quite an expert, could you please advise.
Thanks[/quote]
The statement covers table 5 of Appendix A & refer to the documents you are going to provide in order to claim points for "[b]investment[/b]" . These documents must be "specified documents" and credibility lies in the assessment & genuineness of these documents. For Example your investment will only be consider credible if it reflects in the relevant set of your financial account(s) AND via transactions made by You (the applicant) from your personal to business account and these should be "readily identifiable transaction(s)".

This means that even a certified CA or Accountant prepare & certify your financial accounts this alone will not be acceptable until demonstrated via your business bank statement(s) which [b]must[/b] reflect the investment as "Credible investment". The information you are proviing with application are mandatory but not limited.[/quote]
Thanks a lot[/quote]