calculating investment funds

[buntyz]

hi everyone
i got couple of queries regarding investment funds.i hv applied in 200k category while waitin for decision i bought a post office business for 180k bank gave me loan of 110k n 70k frm ma pocket. so what i want to knw

1.how much money will b calculated towards investment funds we i will apply for ext.

2. there are 2 staff there already.cn i use them as two full time jobs.

any reply will be much appreciated tahnx in advance

[rehan01]

hi everyone
i got couple of queries regarding investment funds.i hv applied in 200k category while waitin for decision i bought a post office business for 180k bank gave me loan of 110k n 70k frm ma pocket. so what i want to knw

1.how much money will b calculated towards investment funds we i will apply for ext.

2. there are 2 staff there already.cn i use them as two full time jobs.

any reply will be much appreciated tahnx in advance

very tricky question, let me ask you couple of question to help me understand it better ...... when you applied you showed 200k funds (funds showed was in your own name of third party name)?

than you bought the business for 180 k? Correct

bank gave you loan for 110 k and 70k was your own money? Correct

for example now if ukba ask you to provide recent bank statement will you be able to show that you have invested 180 k and you have access to 20 k ?

how will you cover 110k loan which bank gave you? as per my understanding you need your own money for investment in uk not loan from bank ?

I will recommend you to seek professional accountant advise on this.

regards

[buntyz]

all funds ws in ma account wen i applied n dey still r.i bought a business n bank gave me some loan on dat i got still got remainin 130k in ma acc.i juz want to knw wen i appply fr extension will it b considered as 180k o 70k.it shud b 180k innit coz bank gave me loan n daqt monney belongs 2 me as well innit.UKBA shud jus look at wat m investin nt d source innit.
n wat u think bout d jobs?????

[rehan01]

all funds ws in ma account wen i applied n dey still r.i bought a business n bank gave me some loan on dat i got still got remainin 130k in ma acc.i juz want to knw wen i appply fr extension will it b considered as 180k o 70k.it shud b 180k innit coz bank gave me loan n daqt monney belongs 2 me as well innit.UKBA shud jus look at wat m investin nt d source innit.
n wat u think bout d jobs?????

Rite 2 things here .... If ukba ask you for recent statement you can show them your statement with 130k balance and appropiate documents confirming that you have invested 70K and u will be fine. (There is no need to mention about the bank loan now as you have required funds available to u in ur bank account)

Regarding the extension application as you have invested into business and at that time if you can provide prove of investment of 180 k and 20k balance or total investment of 200K or above then as per mu understanding your have fulfill the requirement and you will score point for it.

Regarding the jobs as you bought the running business so I gues these jobs are existing already and it will not be considered as job created by you ..... I think you need to create 2 more jobs to prove this and make sure jobs created is for settled person eg uk or eu national.

But check the policy guidance I can't remember wht exactly r the requirement for thisjob creation but I will read it n update u..

Good luck

[moazzam7871]

At the time of extention,,
I think bank loan that you used to buy business will be considered as investment, as you will have to pay back loan+interest to bank. As you have bought business for £180k then this is £180k investment. Also there is no restriction on using bank loan in policy...or unless i missed it?

OR if you do not want to consider bank loan that used to buy business then you should be able to atleast show proportion of bank loan that you paid back as investment by the end of 3 years...Its better to seek professional advice.