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Need help related to my case

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, Amber, archigabe, batleykhan, ca.funke, ChetanOjha, EUsmileWEallsmile, JAJ, John, Obie, push, geriatrix, vinny, CR001, zimba, meself2

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Roofi
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Posts: 25
Joined: Fri Jul 12, 2013 1:43 pm

Need help related to my case

Post by Roofi » Fri Dec 09, 2016 8:00 pm

Dear members,


My extension is due in the month of Feb 2017. I got my visa before April 2014. I need your valuable feedback on the following,

1. First two years I was self employed (2014 & 2015). I registered a company with CH in the third year (2016). My extension is due in Feb 2017 while company first tax return is due in May 2017. I will be submitting management accounts to prove investment as annual accounts will not be available until May 2017. Is it okay??

2. I have done 50,000 investment via director loan in the third year (2016). The loan amount has not yet been spent fully. Some of the funds are still in company account. Will it create any problem??

3. I hired two employees in Jan 2015 when I was self employed. Both were transferred on company payroll in 2016. Both are part-time & completing 24 months in Jan 2017. Both are working as an administrator (same job title) can I combine their working hours to make 24 months full time employment??

4. During first two years, I invested 25,000 as a self employed. This money was spent on salaries, furniture, equipment, vehicles etc. I am confused how to show/prove this investment??? Do I need to provide invoices as a proof or annual accounts showing this amount as "capital introduced" against my name will be sufficient ?? Should I also provide bank statement to show transfer of 25000 into business account??? What about highlighting payment transactions on bank statement covering 25,000??

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zimba
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Posts: 21616
Joined: Mon Aug 11, 2014 6:13 pm
Location: UK
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United Kingdom

Re: Need help related to my case

Post by zimba » Sat Dec 10, 2016 12:06 am

1. First two years I was self employed (2014 & 2015). I registered a company with CH in the third year (2016). My extension is due in Feb 2017 while company first tax return is due in May 2017. I will be submitting management accounts to prove investment as annual accounts will not be available until May 2017. Is it okay??
Yes
2. I have done 50,000 investment via director loan in the third year (2016). The loan amount has not yet been spent fully. Some of the funds are still in company account. Will it create any problem??
No
3. I hired two employees in Jan 2015 when I was self employed. Both were transferred on company payroll in 2016. Both are part-time & completing 24 months in Jan 2017. Both are working as an administrator (same job title) can I combine their working hours to make 24 months full time employment??
Yes
4. During first two years, I invested 25,000 as a self employed. This money was spent on salaries, furniture, equipment, vehicles etc. I am confused how to show/prove this investment??? Do I need to provide invoices as a proof or annual accounts showing this amount as "capital introduced" against my name will be sufficient ?? Should I also provide bank statement to show transfer of 25000 into business account??? What about highlighting payment transactions on bank statement covering 25,000??
Business bank statements and accounts
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

Roofi
Newly Registered
Posts: 25
Joined: Fri Jul 12, 2013 1:43 pm

Re: Need help related to my case

Post by Roofi » Sat Dec 10, 2016 12:21 am

Thank you zimba

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