3 year continues Loss

[fanshad01]

Hi All,

I am running a event venue, and I have invested £15k as a deposit for management contract management or we can call as lease money, would it consider as a investment or it must be goodwill ? Please reply me, that will be really great full.

Thanks

[zimba]

Such deposit is acceptable as it will be paid back to you when the contract ends. If only money goes to the previous owner, then it is not acceptable.
See also: http://www.immigrationboards.com/uk-tie ... l#p1446340

[fanshad01]

Dear Zimba

Thanks for your reply, basically that money wont be come back to me after end of the contract period, as i mentioned in my previous post I am running an event venue which is I took management contract from the main lease holder, and I am making income from renting this venue for the public event, does this ok to show as investment and does this renting income consider as a business income, also i provide event services along with venue renting. Please help me for this.

Thanks

[zimba]

Dear Zimba

Thanks for your reply, basically that money wont be come back to me after end of the contract period, as i mentioned in my previous post I am running an event venue which is I took management contract from the main lease holder, and I am making income from renting this venue for the public event, does this ok to show as investment and does this renting income consider as a business income, also i provide event services along with venue renting. Please help me for this.

Thanks

In that case it is under goodwill and will not be counted. However you will be able to make money off it.

[fanshad01]

Dear Zimba,

Thanks for your valuable reply, for this case I paid 3 months rent deposit when the time of signing the management contact that will payback to me once the contract ends, does it consider as a investment ?

Thanks

[noajthan]

Hard to see how a returnable deposit is an investment.

[fanshad01]

Hard to see how a returnable deposit is an investment.

waiting for zimba's reply

THANKS

[noajthan]

Hard to see how a returnable deposit is an investment.

waiting for zimba's reply

THANKS

He's probably having his tea.
We have 100,000+ members.
Free country.
Please yourself.

[fanshad01]

Hard to see how a returnable deposit is an investment.

waiting for zimba's reply

THANKS

He's probably having his tea.
We have 100,000+ members.
Free country.
Please yourself.

Dear Nojithan,
I have that doubt too, how ever i am still researching that topic, and Zimba is expert for this that's what i quoted him, its not mean you or another members aren't good. hope zimba will finish his tea soon

Thanks

[Jazz2007]

noajthan need Tea too

[zimba]

There is NO guide to give you a certain answer to this. In my opinion, getting a refund or a deposit back should be fine as long as that it did involve substantial amount of your claimed investment. Your reason for business expenses and investments need to be valid and reasonable.
If you deposited totally 50K in your business and paid 45K of that just as deposit, then that is questionable

[fanshad01]

There is NO guide to give you a certain answer to this. In my opinion, getting a refund or a deposit back should be fine as long as that it did involve substantial amount of your claimed investment. Your reason for business expenses and investments need to be valid and reasonable.
If you deposited totally 50K in your business and paid 45K of that just as deposit, then that is questionable

Dear Zimba
Thanks for your reply, yes I understand the point

[fanshad01]

Dear Zimba And OTher members,

I am running an event management company with banqueting hall, on my annual return company fall in loss since last 3 years including this year (will be), year by year loss getting higher, is that any problem for the extension? what should I do ?

Also I was been told couple of my friends I should put MY personal bank statement (where that £50k coming from) to show the bank transfer to the business account, And Employees Contract, but when i go through the guidelines unfortunately i couldn't find any thing regards to this matter, Please Help me for this.

Thanks ANd Regards

[Meesha]

If you are investing by director loan, ur investment should be traceable to you. It must be quickly identifiable i:e from your personal account to business account. Guidelines are very clear about it.
Good luck

[fanshad01]

If you are investing by director loan, ur investment should be traceable to you. It must be quickly identifiable i:e from your personal account to business account. Guidelines are very clear about it.
Good luck

Dear Meesha,
Thanks for your reply, yes it is traceable from the business bank account statement, My name clearly shown on each transaction when I transfer money from my personal account. My doubt is even HO can easily find my name from business account statement, should I need to produce my personal bank statement for an additional evidence, please clear that for me, much appreciated.

Thanks

[sm12]

^^If your business bank statements clearly show that it was you who made the investment, then it is not necessary, but if you have the relevant personal bank statements, then you can send them if you want.

[fanshad01]

^^If your business bank statements clearly show that it was you who made the investment, then it is not necessary, but if you have the relevant personal bank statements, then you can send them if you want.

Thanks SM12,
Thanks for your prompt reply, I have been suggested by couple of solicitors send only the relevant document to avoid unnecessary questions, that is why I rise this doubt here. Hope you can help to clear my for the rest of the doubt, that will be really appreciable. Also I am eagerly waiting for Zimba's Reply.

Thanks

[zimba]

^^If your business bank statements clearly show that it was you who made the investment, then it is not necessary, but if you have the relevant personal bank statements, then you can send them if you want.

That is correct