- FAQ
- Login
- Register
- Call Workpermit.com for a paid service +44 (0)344-991-9222
ESC
Welcome to immigrationboards.com!
Moderators: Casa, Amber, archigabe, batleykhan, ca.funke, ChetanOjha, EUsmileWEallsmile, JAJ, John, Obie, push, geriatrix, vinny, CR001, zimba, meself2
Hi Zimba88,zimba88 wrote:There is already a thread on the same topic. I shared my application details over there: http://www.immigrationboards.com/uk-tie ... l#p1325772
Many thanks.nadeem75 wrote: congratulation for your successful extension. it is really a great achievement.
my questions for you and other senior members is:
my 2 years accounts file by Accountant and i have sign on balance sheet, however when i go to company house website on beta to check and it shows only 3 pages and notes pages is not there where mention my name for director loan, will this effect to proof actual accounts which is i sign and accountant stamp.
and Home Office will check company house printout or actual report which signed by me and accountant.
regards
nadeem
For share capital investment they don't want to see bank statement. Someone can just open a company with 50k/200k share capital. Then never transfer the money or may be transfer the money over the three years in small installment like loan investment. Say for example 50k issued share capital, applicant transferred 20k in his first year and showing remaining 30k as other debtors on the balance sheet.1. Immigration Rules demand that you show min £200K transferred from your personal account to your business account if you invested this money as a Director's loan. This is because you can claim anything in an unaudited accounts. They need to see he money transaction(s) to your business bank accounts to ensure you invested and you are not just claiming it
If you read things like the MAC report, you realise that HO has several units with experts in the field that can verify and understand your business documents very well. The assumption that a case worker relies merely on her/his assessment of a Tier 1E migrant is a bit simplistic. Surely you must ask why you cannot apply in person for Tier 1E visa or extensions. They are not stupidFor share capital investment they don't want to see bank statement. Someone can just open a company with 50k/200k share capital. Then never transfer the money or may be transfer the money over the three years in small installment like loan investment. Say for example 50k issued share capital, applicant transferred 20k in his first year and showing remaining 30k as other debtors on the balance sheet.
Unless home office uses an accountant for these applications, a normal case worker may not understand a detailed balance sheet.
There are 2 instances where I am getting an issue.1. Immigration Rules demand that you show min £200K transferred from your personal account to your business account if you invested this money as a Director's loan. This is because you can claim anything in an unaudited accounts. They need to see he money transaction(s) to your business bank accounts to ensure you invested and you are not just claiming it. If the evidence does not match with the transactions, it is certain to say that you will be refused extension.
Money transfer between your personal accounts is irrelevant to HO. They rules explicitly want business bank account statements showing investment transaction(s) under your name. This also must be reflected in your accounts1.First is where I show that the money comes from my savings account going to my personal account that was used for sole trading business. I have the bank statements but no unaudited accounts for that period.
You can invest in different ways but HO does not accept any without providing the required documents.2. I can show £125k going directly from my account to my limited bank account directly from my personal account. The remaining 75k I can't show coming from my personal account as that was used as the working capital for my business.So to give a simpler image the money used in my sole trader account (under my name) sent money out of the account to buy stock and then received the payments into my limited account. I mean all business go through transitional period so not sure how this can be an issue.
Not strictly true, please go to Page 46 of the guidance notes and check middle column on the second row. They say they accept personal bank statements when trading is also happening on that account.Money transfer between your personal accounts is irrelevant to HO. They rules explicitly want business bank account statements showing investment transaction(s) under your name. This also must be reflected in your accounts
My unaudited accounts at the end of May will show slightly over 200k in total which is all my money, should that not serve as a proof? Around the time of transition I was using Business bank accounts for my sole trader. It is a simple case of a company named x changing to x ltd and the clients sending payments to x ltd now instead of x. What I dont know is what I can show to the home office as an evidence of this? I guess I can show them the bank statements etcYou can invest in different ways but HO does not accept any without providing the required documents.
You want to claim that you have given your company 200K loan but the evidence they are looking for exists only for 125K based on your bank account transactions. Sole traders do not need a business bank account but the immigration rules require you to have one. I suggest to find a way to invest the 75K in to the business.
sorry page 47 of the new guidanceNot strictly true, please go to Page 46 of the guidance notes and check middle column on the second row. They say they accept personal bank statements when trading is also happening on that account.
I was talking in the context of Director's loan. In this case you must show you were registered as a self employed and used 75K as a sole trader and then 125K as director's of a company. I know from accounting point of view it becomes 200K director's loan when you change from sole trader to Ltd but proving that to HO is the problem.Not strictly true, please go to Page 46 of the guidance notes and check middle column on the second row. They say they accept personal bank statements when trading is also happening on that account.
I suggest you write a very good covering letter explaining this. Your director's loan agreement must also mention that 75K of the loan is simply investment in previous sole trading activity. You also need to send personal as well as business accounts, showing the 200K transactions.My unaudited accounts at the end of May will show slightly over 200k in total which is all my money, should that not serve as a proof? Around the time of transition I was using Business bank accounts for my sole trader. It is a simple case of a company named x changing to x ltd and the clients sending payments to x ltd now instead of x. What I dont know is what I can show to the home office as an evidence of this? I guess I can show them the bank statements etc
When I got 200k transferred from my easy access savings to my personal account in 2013, I was registered as self employed of which I will provide evidence to the HO too. I can also show the home office that I was using that money to do trading. But I do not have unaudited financial accounts for that year. Will HO be fine with the bank statements alone in this case and accept this as the investment of 200k into my business?I was talking in the context of Director's loan. In this case you must show you were registered as a self employed and used 75K as a sole trader and then 125K as director's of a company. I know from accounting point of view it becomes 200K director's loan when you change from sole trader to Ltd but proving that to HO is the problem.
If the above case doesnt work then I might have to write a long covering letter explaining everything to the home office and will provide evidence where required. All of this is such a pain in the backside lolI suggest you write a very good covering letter explaining this. Your director's loan agreement must also mention that 75K of the loan is simply investment in previous sole trading activity. You also need to send personal as well as business accounts, showing the 200K transactions.
Hi Zimbazimba88 wrote:There is already a thread on the same topic. I shared my application details over there: http://www.immigrationboards.com/uk-tie ... l#p1325772
I have the same situation and by the looks of it the outcome will not be affected if you didn't provide anything to the home office regarding your second Director unless he was one of the employee you might be claiming points forHi Zimba
Can you please advise , what are the requirements of company has 2 directors and the second directors has resigned 5 months before making extension application .
Do we need to send any document for that second director?
Other business directors are not relevant to your application, however you should give their names and details on the application form. See Tier 1E form table 3b2bAROOJ321 wrote:Can you please advise , what are the requirements of company has 2 directors and the second directors has resigned 5 months before making extension application .
Do we need to send any document for that second director?
Hey Zimba, IF I invested 75k more will that solve the issue? I mean there is no timeline for the investment right?I suggest you write a very good covering letter explaining this. Your director's loan agreement must also mention that 75K of the loan is simply investment in previous sole trading activity. You also need to send personal as well as business accounts, showing the 200K transactions.
It should. There are no timelines for your investment as long as you have all the evidencefatguyslim wrote:Hey Zimba, IF I invested 75k more will that solve the issue? I mean there is no timeline for the investment right?I suggest you write a very good covering letter explaining this. Your director's loan agreement must also mention that 75K of the loan is simply investment in previous sole trading activity. You also need to send personal as well as business accounts, showing the 200K transactions.
Under transitional arrangements you can add the part time hours together to reach a full time job. Full time hours created beyond 30 hours a week are also ignored. Unfortunately It is not clear from the rules/guide if you can add 3 part time hours to claim 2 full time jobs.Fazie wrote:Hi, Can we create three part time employees at 20 hrs each to claim points for two full time employees? That's because the total number of hours combined for three employees (when each of the employee works 20 hrs) sum up to 60 hours, which is also the total no of hours required to create two full time positions.
Any input from someone who has already claimed points in this fashion or who specializes in this category will be highly appreciated.
Is it safe to say that I can apply any time not earlier than 4 months before 28.12.2016 to make sure that 5 year continuous stay in the UK remains valid for a settlement application in future after 2 year extension is granted? And also, HO will probably take 8 weeks to decide on my application, which is an extra 2 months. So, would you recommend that I apply, let's say, in early August this year (2 months for decision making + 3 months settlement allowance)? I hope you understand what I mean here.If you are in the UK we encourage you to apply at least a month before your existing leave expires. If you apply much earlier than this you risk having a shortfall in leave if you choose to apply for settlement. This is because any further grant of leave is given from the date that we make the decision, not the date your leave expires.