Taleem99 wrote: ↑Thu May 27, 2021 4:16 pm
Thanks Zimba for sharing the documents which is very useful and cleared the doubt.
I have another doubt on the investment related question and looking for your and Marcnathy kind comments for understanding.
A 201,000/- was transferred from Personal to Company business account as a investment ( invested in business account). Whereas, the amount spends was 166,000/- in terms of purchase, salaries to employees, accounting and legal/professional, business renovation cost expenses etc...
Around 65,000/- amount shows as closing balance as per bank statement.
My question is if the balance amount which is not spending is a strict requirement to spend under Tier1E visa. In other words it is a requirement to spend full 200,000/- (the confusion is spend and invest)
Below is an example illustration of reference:
• Invested to business bank account: 201,000/-
• Spent against expenses : 166,000/- (inclusive of around 15000/- spend by director for own car and overseas travel which will be top up for another 15000/- transfer from personal to business account) (actual business spend= 166,000-15000=151,000) ( Director did not taken any salary)
• Received against income/return sale included with 7500/- business grant and 4000/- furlough employees
is 45000/- ( business was effected due to lockdown)
(• New balance in bank statement will be (65000+15000=80000)
(200,000-151,000= 49000 unspent amount from the investment if this also required to spend?
Sorry for taking such long detail. Thanks