Tier 1 Entrepreneur Extension £50k route

[Banglore]

Hi All,

I need your advice as I'll be applying for my T1 Extension (50,000 route) very soon. Applied 2012 but got refused, appeal witdrawn by HO in the court at date of hearing in 2014 and finally approved mid 2014.

I have 4 employees.

Employee A (EA) :-- Part time since Jan 2015 till date
Employee B (EB) :-- Full time since July 2016 till date
Employee C (EC) :-- Full time since Jan 2016 till Nov 2016
Employee D (ED) :- Full time since Jan 2017 till date

My question are:-
1.)- What is my best combination to show for 2 full time employments created as per employees stated avove (All have necessary documentation required) ?
2.) Do I have to attach business bank statement to show bank activities ? (I do not mean bank statement to show transfer of £50,000 - HO had requested prove of transfer £50,000 during my initial application, which I provided to them ).

[marcnath]

Hi All,

I need your advice as I'll be applying for my T1 Extension (50,000 route) very soon. Applied 2012 but got refused, appeal witdrawn by HO in the court at date of hearing in 2014 and finally approved mid 2014.

I have 4 employees.

Employee A (EA) :-- Part time since Jan 2015 till date
Employee B (EB) :-- Full time since July 2016 till date
Employee C (EC) :-- Full time since Jan 2016 till Nov 2016
Employee D (ED) :- Full time since Jan 2017 till date

My question are:-
1.)- What is my best combination to show for 2 full time employments created as per employees stated avove (All have necessary documentation required) ?

Employee EB, EC and one month of ED should work for you. You are still under transitional arrangements but this will meet the requirements either way assuming EC and ED are doing the same job.

2.) Do I have to attach business bank statement to show bank activities ? (I do not mean bank statement to show transfer of £50,000 - HO had requested prove of transfer £50,000 during my initial application, which I provided to them ).

If your investment was already done and approved, then you don't need to provide any bank statements.

[Banglore]

Hi Marcnath,

Thank you very much for the prompt response / reply, I sincerely and highly appreciate your response. Thank you.

[Banglore]

Hi All,

I need your advice as per FPS please..

My accountants has provided me FPS reports for financial years 2014/2015, 2015/2016 and 2016/2017 but unable to provide me FPS reports for April 2017 till July 2017 because "he said FPS report cannot be generated for the current financial year". He has instead generated an "FPS History" of 2 pages for this financial year (i.e. 2017/2018 which is just the history of what has been submitted so far for this year).

The FPS reports generated for 2014/2015, 2015/2016 and 2016/2017 contains the start / leaving dates of my employees but as as need to claim points for employees up till July 2017, would thiamine pose an issue (if I don't submit FPS report up till July 2017) ?

[marcnath]

Hi All,

I need your advice as per FPS please..

My accountants has provided me FPS reports for financial years 2014/2015, 2015/2016 and 2016/2017 but unable to provide me FPS reports for April 2017 till July 2017 because "he said FPS report cannot be generated for the current financial year". He has instead generated an "FPS History" of 2 pages for this financial year (i.e. 2017/2018 which is just the history of what has been submitted so far for this year).

The FPS reports generated for 2014/2015, 2015/2016 and 2016/2017 contains the start / leaving dates of my employees but as as need to claim points for employees up till July 2017, would thiamine pose an issue (if I don't submit FPS report up till July 2017) ?

Yes, definitely it will cause problems. If you need the points for employees until July 2017, then you need the Payslips and FPS until July 2017.

The accountants excuse is explainable. They should be able to get the FPS as soon as they submit it to HMRC, which should be every month. Not sure if they have confused it with EPS, which is done at the end of the year.

[Banglore]

For some reason (unknown to me), he said the system will not allow him generate the reports but just the history for this financial year.

My only option now is to combine jobs below.

Question 1:- Will my combinations below suffice ( I have payslips and FPS reports stating start dates / leave dates) ?

Job 1 :- EA (Jan 2015 - Dec 2016) + EB (July 2016 - March 2017) ?
Job 2 :- EC (Jan 2016 - Nov 2016) + ED (Jan 2017 - March 2017) ?

Employee A (EA) :-- Part time since Jan 2015 till date
Employee B (EB) :-- Full time since July 2016 till date
Employee C (EC) :-- Full time since Jan 2016 till Nov 2016
Employee D (ED) :- Full time since Jan 2017 till date

Question 2:- Do I need to show Business a bank statement? The bank has already provided me a letter stating that Biz Account for company XyZ is active since xxxxx and the only signatory is myself .....should I just use the letter or business bank statement or both ?

Thanks

[marcnath]

Are you under transitional arrangement - i.e did you apply pre-April 2014 ?

[Banglore]

I applied in 2012, got refused 2013, appealed and HO withdrew the case and granted my T1 in 2014.

[marcnath]

For some reason (unknown to me), he said the system will not allow him generate the reports but just the history for this financial year.

My only option now is to combine jobs below.

Question 1:- Will my combinations below suffice ( I have payslips and FPS reports stating start dates / leave dates) ?

Job 1 :- EA (Jan 2015 - Dec 2016) + EB (July 2016 - March 2017) ?
Job 2 :- EC (Jan 2016 - Nov 2016) + ED (Jan 2017 - March 2017) ?

Employee A (EA) :-- Part time since Jan 2015 till date
Employee B (EB) :-- Full time since July 2016 till date
Employee C (EC) :-- Full time since Jan 2016 till Nov 2016
Employee D (ED) :- Full time since Jan 2017 till date

Question 2:- Do I need to show Business a bank statement? The bank has already provided me a letter stating that Biz Account for company XyZ is active since xxxxx and the only signatory is myself .....should I just use the letter or business bank statement or both ?

Thanks

So you are under transitional arrangement.

However, with all of this, you are still one month short of 24 months. (EB, EC and ED together gets you to 23 months)

You could do

Job 1: EA (Jan 2015 - June 2016) + EB (July 2016 - Marc 2017)
Job 2 :- EC (Jan 2016 - Nov 2016) + ED (Jan 2017 - March 2017)
Job 3: EA (July 2016 - Dec 2016)

And then you can combine Job 1 and Job 3 to give you the equivalent of three FT jobs.

There is nothing in the rules that specifically says you can't do it. But it does seem to be a stretch, so I am not absolutely sure if it can be done.

Alternatively, you can recreate the FPS for Apr 2017 (You only need one month) using another software like Moneysoft (I have no experience on this but many users in this forum seem to have done this) and that should meet you needs.

When is your renewal due ?

Maybe you can change your accountant and get the August payroll done by a different accountant. All you need is one months FPS.

[Banglore]

I would have presumed that job EA alone (part time employee) can account for 1 full time job (i.e. Jan 2015 - March 2017) even though the employee is still in my payroll.

While employees EB (i.e. July 2016 - March 2017 = 9months) + employee ED (Jan 2017 - March 2017=3 months) totals 12 months FT employment ....both still in employment till date.

[marcnath]

Jobs and Employees are different things.
EA is an employee - not a job.
You can only combine two part time jobs to make one FT job. And you have to clearly show in the application form which TWO PT jobs are combined to make 1 FT job.

So, in your example, if EA is only in Job 1, then there is no way to communicate to the CW, which other job it should be combined with.

Also, for every job, you can only get a maximum of 30 hrs counted for a week. So for Job 1, the way you specified it, there is an overlap between July 2016 and Dec 2016. And since no credit will be given for more than 30 hrs, you will not get the benefit of EA during that period.

As I said, I can't see why you can't declare employee EA as doing two different part time jobs and then combine the two jobs to have 1 FT. You may need to be ready to argue what the difference was if they ask, but that should be possible.

While you should be able to argue and get the points eventually, the simpler and cleaner way is to avoid complexity and use EB, EC, ED and get one more months FT FPS.

[Banglore]

Oh I see. Your explanation is very clear now, I didn't get it initially.

[Banglore]

Hi MacNarth, Do I need to attached the Business bank statement ? The bank has already provided me a letter stating that "Biz Account for company XYZ is active since xxxxx and the only signatory is myself " .....should I just use the letter or business bank statement or both ?

[marcnath]

Hi MacNarth, Do I need to attached the Business bank statement ? The bank has already provided me a letter stating that "Biz Account for company XYZ is active since xxxxx and the only signatory is myself " .....should I just use the letter or business bank statement or both ?

Either one will satisfy the requirement

[Banglore]

Hi MacNarth, A big thank you to you. I have managed to squeeze the accountant's balls today and he has print fps report up till July 2017 for me. Thanks a lot. I guess I can now claim points with all my 4 employee whichever I choose.

Thanks, Banglore

[marcnath]

You are welcome and glad it came through.

Good luck with your extension.

[Banglore]

Hi MarcNath, do we (i.e. applicant or director of a company) need to sign and date
A. Copies of employee payslips ?
B. FPS reports ?

During my initial application which the HO withdrew appeal. HO requested I transfer £50k into my business account (which I did) and they also requested proof I could spend the money which was residing in the business account (which I also did / provided proof). During the initial application, I never provided (and they never asked for ) for Director's Loan Agreement.

So, do I need to provide a Directors Loan Agreement during extension even though I had provided proof funds transfer during my initial application ?

[marcnath]

Hi MarcNath, do we (i.e. applicant or director of a company) need to sign and date
A. Copies of employee payslips ?
B. FPS reports ?

During my initial application which the HO withdrew appeal. HO requested I transfer £50k into my business account (which I did) and they also requested proof I could spend the money which was residing in the business account (which I also did / provided proof). During the initial application, I never provided (and they never asked for ) for Director's Loan Agreement.

So, do I need to provide a Directors Loan Agreement during extension even though I had provided proof funds transfer during my initial application ?

There is no requirement to sign payslips/FPS - no harm doing so either.
It looks like you only evidenced Access to funds in your application. So, yes, you need to provide DLA or show that it has been invested as Share capital

[Banglore]

Ok, thank you Marcnath..

[Banglore]

Thank you Marcnath....Got approved last week.

[tierloop]

Please update your timeline

[Banglore]

Applied 16th Aug 2017.
Confirmation letter received and dated 23 August 2017 (Biometric process included).
Biometric done on the 4th September 2017.
Approval letter received and date 5th Oct. 2017.

Applied with 2 kids and Partner.

[tierloop]

Applied 16th Aug 2017.
Confirmation letter received and dated 23 August 2017 (Biometric process included).
Biometric done on the 4th September 2017.
Approval letter received and date 5th Oct. 2017.

Applied with 2 kids and Partner.

Great. Congratulations mate

Is it 50K ?
No complex letter?
No interview?
Nature of business?
Home address and business address same?

[Banglore]

Is it 50K ? Yes...applied for intial visa before 2014
No complex letter? No letter at all.
No interview? No interview
Nature of business? IT
Home address and business address same? Yes

Did not even provide business bank statement only Bank letter stating an active Biz account with myself as the sole signatory.

[tierloop]

You are one lucky fellow. It’s really great to see decision like this
Hope you don’t mind sharing your documents list