Need guidance for enterpreneur extension please

[Ujalasahar123]

Good evening all lovely people, my enterpreneur extension is due very soon I have few questions although I have been reading guidance policy but still few bits I have not understood. To my understanding what we need to submit here is the list.
i m sorry if I ask some silly questions please bear with me.
So I M only director of the company and invested 50,000 directly to my business acc from personal in one go. now I have not spent all of 50,000 in business as my business services based which doesn't need that much investment. Will that be a problem I have only spent around 7,000 on computers printers office based stuff basically and recruitment agent who got my these employees.but rest of the money is in my account still and will be thr. That's is first question if that should be a problem.
No.2 :

[Ujalasahar123]

No.2 : I will submit personal bank statement for the time I transferred money plus of course business bank statement where money has been transferred until now.
No3. : is it must to provide 3 years abbreviated accounts plus ct or just where money has been invested.
No4. Office premises I got little unit in another firm and I pay rent to them which includes everything acc to contract so I pay rent inclusive everything. So I don't have any utility bills on my companies name. Is that okay? Will that make me any issue.
In guidance policy it says 20 points for investment so according to my understanding if I have invested from personal to business account I qualify for those points then they have 20 points for job creations so I did that for atlest 12 months which is nearly going to be completed. Then we have on guidance policy page number 44 points B and C 20 points for each they are basically same stuff. Like one says u should be registered with Hmrc/companies within time mentioned when u first applied for visa and C says that when I apply for visa I should still be director/self employed .. Is that what they meant please please I will really aprreciate if these questions are answered I am new here have few other bits and pieces will ask later as it wil be too long for a lot to read. Zimba88 will be grateful to u if u show me the right path with ur immense experience and knowledge .

[zimba]

So I M only director of the company and invested 50,000 directly to my business acc from personal in one go. now I have not spent all of 50,000 in business as my business services based which doesn't need that much investment. Will that be a problem I have only spent around 7,000 on computers printers office based stuff basically and recruitment agent who got my these employees.but rest of the money is in my account still and will be thr. That's is first question if that should be a problem.

There is no requirement that all needs to be spent

No.2 : I will submit personal bank statement for the time I transferred money plus of course business bank statement where money has been transferred until now.

Ok

No3. : is it must to provide 3 years abbreviated accounts plus ct or just where money has been invested.

You need to send the one which you invested.

No4. Office premises I got little unit in another firm and I pay rent to them which includes everything acc to contract so I pay rent inclusive everything. So I don't have any utility bills on my companies name. Is that okay? Will that make me any issue.

I don't see the problem

Like one says u should be registered with Hmrc/companies within time mentioned when u first applied for visa and C says that when I apply for visa I should still be director/self employed .. Is that what they meant

Yes

[Ujalasahar123]

Thanku very much zimba88 for your answers. If I want to ask other questions do I have to write in same post or shall I start new. further more to my application as I am director of the company my accounts are : for example 01/02/2016 to 31/01/2017 and I invested full amount in April 2016 which comes in this period so it means I am only giving them this years accounts and CT. plus I am applying visa in October so what about time from 01/02/2017 to October 2017. will I be providing them anything relating to that.
NO 2 question I applied my first entrepreneur tier 1 visa back in January 2013 but got approved in October 2014.I will be in pre 2014 transitional agreement and this is what it says in Guidance policy
167. If you successfully applied for entry clearance or switched into the route from 6 April 2014, so i don't fall in this category will caseworker know that or i have to write a cover letter explaining him/her. just a query which was coming in mind again and again so i thought shall ask experienced ones.

regards,

[zimba]

further more to my application as I am director of the company my accounts are : for example 01/02/2016 to 31/01/2017 and I invested full amount in April 2016 which comes in this period so it means I am only giving them this years accounts and CT. plus I am applying visa in October so what about time from 01/02/2017 to October 2017. will I be providing them anything relating to that.

Not really

NO 2 question I applied my first entrepreneur tier 1 visa back in January 2013 but got approved in October 2014.I will be in pre 2014 transitional agreement and this is what it says in Guidance policy
167. If you successfully applied for entry clearance or switched into the route from 6 April 2014, so i don't fall in this category will caseworker know that or i have to write a cover letter explaining him/her. just a query which was coming in mind again and again so i thought shall ask experienced ones.

Yes, you are in transitional arrangements. They obviously have access to your immigration history on their systems

[Ujalasahar123]

MANNY THANKS FOR UR QUICK REPLY zIMBA88 :):):):) GOD BLESS U

[Ujalasahar123]

Morning all respected members. I have a query as I was reading previous posts on this forum and people have discussed investment plus directors salary. Which made me think about it if I am going okay or need to work on it please Zimba88 any suggestions will be much appreciated. I will try to explain as I duno how to make you guys explain but let's see
1. I got visa in October 2014 and I put myself on wages as a director of 725 from March 2015. as a business consultant I was getting good revenue. And I kept getting my salary from then and I was alone working for my company and then in March 2016 I hired full time 30 hours employee and her gross pay was around £1000.00 then in April another joined same 30 hours £1000.00 gross. For 2015-2016 accounts I paid £25 copration tax £25.00 and that year I still did I not transfer £50k As an investment in my business account. Now in April 2016 I invested 50,000 and one employee was replaced by another employee who's gross pay was £2300.00 and ofcourse I was paying my salary 725 plus two employees , rent and other bits and pieces as in advertisement, office expenses. And was my turnover per month on average was more or less £3000 which was last year from 1/2/2016 to 31/1/2016 which will be due soon. My question is m I okay with investment or did I pay myself as a director from investment. Please do not hesitate if I have not cleared up anything ur guidance will be highly appreciated. Many thanks
Regards,

[Ujalasahar123]

Plus I have some dues coming this months as end of the year so I have invoiced them already and they will be giving there remaining fesses to me this month which is making me think that I will be going in bit profit as counting the amount I will be receiving. If they all pay on time. Will that help or I will have to invest more money into my acc.

[Evicra]

Q: can she not buy shares of her Company against 50k this way even if she don't spend all of the money 50k that doesn't matter?
please correct me if i am wrong.

[Ujalasahar123]

hi all again, so to make it clear .. this is the details to get better understanding of my case guys please.

so i had turnover+ invest of £37405.00 + £50,000 =87405.00
my all paid outs including rent computer equipment plus HR services for staff needds ,phone bills travelling, wages is altogether = £45049.40
so if i minus
wages from above amount which are £36443.42 for 2 employees and me (director of company)
which means £45049.40-£36443.42 =8605.98 for all expenses left ( which can be from investment like 3200 for computer equipment + 1000 for hr services).. do u think i m good with the above question. i did not get any money from company in the form of director wages and i dont have to give any money back .... please if u could reply will be great.

regards,

[samaygrg]

why you want to go with the abbreviated account?

As per guidance we should provide account with its full compilation report [of relevant year/years where you have made investment to claim the points] in-where in the NOTES section everything is clarified in proper wordings, especially in creditors section.

Have seen many applications refused based on the director name not mentioned in that part and/or director's name not mentioned specifically as shareholder in there if someone has share capital method of investment.

No.2 : I will submit personal bank statement for the time I transferred money plus of course business bank statement where money has been transferred until now.
No3. : is it must to provide 3 years abbreviated accounts plus ct or just where money has been invested.
No4. Office premises I got little unit in another firm and I pay rent to them which includes everything acc to contract so I pay rent inclusive everything. So I don't have any utility bills on my companies name. Is that okay? Will that make me any issue.
In guidance policy it says 20 points for investment so according to my understanding if I have invested from personal to business account I qualify for those points then they have 20 points for job creations so I did that for atlest 12 months which is nearly going to be completed. Then we have on guidance policy page number 44 points B and C 20 points for each they are basically same stuff. Like one says u should be registered with Hmrc/companies within time mentioned when u first applied for visa and C says that when I apply for visa I should still be director/self employed .. Is that what they meant please please I will really aprreciate if these questions are answered I am new here have few other bits and pieces will ask later as it wil be too long for a lot to read. Zimba88 will be grateful to u if u show me the right path with ur immense experience and knowledge .

[Ujalasahar123]

Thanku samy for ur reply and plz samy and gurus plz reply my second post imp one plzzz .. I ha. Few months left and now I dun want panic but now it looks like evything is in mess plzzz gurus and all members ur comment will be much appreciated

[Ujalasahar123]

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[Ujalasahar123]

[Ujalasahar123]

[quote="Ujalasahar123

[noajthan]

@Ujalasahar123, why are you making repeated, nonsense padding posts.

If your aim is to acquire Board PM privilege be aware it can and will be removed due to such abuse of the system.

[Ujalasahar123]

@Ujalasahar123, why are you making repeated, nonsense padding posts.

If your aim is to acquire Board PM privilege be aware it can and will be removed due to such abuse of the system.

how can i delete this msgs i am tying to delete this and edit my last post as the amounts there i put wrong

[CR001]

@Ujalasahar123, why are you making repeated, nonsense padding posts.

If your aim is to acquire Board PM privilege be aware it can and will be removed due to such abuse of the system.

how can i delete this msgs i am tying to delete this and edit my last post as the amounts there i put wrong

You cannot edit your posts. You have 15 minutes after posting to edit, after that you can't. Repost the details that are wrong rather than posting like you have been.

[Ujalasahar123]

@Ujalasahar123, why are you making repeated, nonsense padding posts.

If your aim is to acquire Board PM privilege be aware it can and will be removed due to such abuse of the system.

how can i delete this msgs i am tying to delete this and edit my last post as the amounts there i put wrong

You cannot edit your posts. You have 15 minutes after posting to edit, after that you can't. Repost the details that are wrong rather than posting like you have been.

sorry all members for this .. its jus my phone made a mess

[Ujalasahar123]

hi all, my accounting period is from 01/02/2016-31/01/2017 in which I actually did investment of £50,000. according to ukvi guidance it says have to submit accounts for the year where we have done investment from personal bank to business bank. These are the accounts which i will be submitted for my extension. now I have noticed that my accountant has already written in my old accounts ( which includes, 2015-2016,2014-2016 and 2014-2013) that Miss xxxxx has done investment of £50,000. I am in so much stress as i have invested now into business not in previous years at all. am i am in big mess? this is going to be big problem. right .. what could be done now?? please advice me . i will be grateful to you.

best regards,

[Ujalasahar123]

Zimba if u could plz reply to my query as well will be grateful to u...

[zimba]

What do you mean your accountant wrote that in your old accounts (when you never invested at all in those periods) ????
How come you signed those accounts without going through them ???

[Ujalasahar123]

I am not an accountant and esp when they submitted first accounts I absolutely had no clue what was going on as my first visa was still in process. And first accounts got due already so he asked me if I do have 50,000 in my account I said yes I do. I meant in personal account and maybe he thought it was invested so it just carried over for 3 years. U know where I am coming from. Now when I am reading guidance I opened my file and got this.. Plz plz plz tell me what are the possibilities here . What can be done .?

[zimba]

You do not need to be an accountant !!! Ignorance is not an excuse. You must sign the accounts as correct before your accountant submits them. You MUST go through the accounts and ask questions from your accountant before signing anything as correct. Common sense
I suggest to ONLY send the account for the year you invested not the other ones. You also need to talk to your accountant to fix the accounts as the information you submitted seems to be entirely incorrect.

[Ujalasahar123]

Thanku zimba88 for ur reply. I should but I thought at that time..this is what they are talking about money in my personal account. Yea so I actually invest in april2106. Which will be in my 2016-2017 accounts. Can previous accounts be amended. I heard CH can be but CT can be amended for only 12 months. What do U suggest. Wil that be negative effect on my extension application as I never invested on those years actually I did this year. Plz suggest me