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The issue is that i cant spend more than 7 days during my first trip to the UK.
You should post in your own topic rather than tagging onto another members thread.
1. You should be able to with all the rest of the documents but it is going to be quite troublesome since Banks would prefer to stick to standard processses.john2030 wrote: ↑Thu Sep 19, 2019 8:31 amThe issue is that i cant spend more than 7 days during my first trip to the UK.
I was planning to collect the BRB, and do the police registration and open bank accounts,etc..
If i am not able to get the BRB during these 7 days:
1: can i still open a bank account?
2: can i still do the police registration (it says on the visa i have do this within 7 days of entery) so is it possibile to do police registration WITHOUT BRB?
3: can i enter the UK again if i dont have my BRB?
Many thanks
You are taking risks if you use the money for personal purposes.john2030 wrote: ↑Fri Sep 27, 2019 9:51 pm
just to confirm my understanding: i am talking about transfering the 200k and not spending it all: so my plan is to transfer 100K as soon as i register my company and another 100k by second year (as i need to spend some personal money from the other 100K, and hope to replenish it by sales in year 1.
so is my plan acceptable when time comes for the extension?
marcnath wrote: ↑Sat Sep 28, 2019 12:08 pmYou are taking risks if you use the money for personal purposes.john2030 wrote: ↑Fri Sep 27, 2019 9:51 pm
just to confirm my understanding: i am talking about transfering the 200k and not spending it all: so my plan is to transfer 100K as soon as i register my company and another 100k by second year (as i need to spend some personal money from the other 100K, and hope to replenish it by sales in year 1.
so is my plan acceptable when time comes for the extension?
The rules clearly state that you have to maintain access to the ENTIRE 200K UNTIL it is invested or spent in your business.
While I haven't seen any cases of HO having refused on that reason, the rules allow them to do so if you can't show that you have maintained that access to the full 200K throughout (which you can't if you have used it for personal purposes).
Also, you cannot "replenish" the money used from sales. HO takes into account the timing of the cash flow. So, if you have withdrawn part of the money before the money from the sales came into your business bank account, that will be deducted from your investment amount.
First HO does not need to make sure. HO can ask you to provide evidence that shows that "you have had access to 200K until it is invested or spent in the business".john2030 wrote: ↑Sat Sep 28, 2019 6:27 pmThanks Marcnath... valuable info indeed. so the 200k can't be 'topped-up' by sales. clear.
so do you think this case below is allowed:
i have 300k in my personal account, and will transfer first 100k to my business account (and use my personal account for personal expenses), then in year 2 will transfer the remaining 100k.
so you are saying HO needs to make sure that i always had the 200k (either in business or personal) ?
Google for accountants.i know that i should not ask about lawyers or accountants in this forum, and i dont plan to, but is there a central repository where the names of certified accountants for Uk are listed?
thank you dear...QSDanik wrote: ↑Tue Nov 26, 2019 7:07 pmYes you can, I did this for two years before my extention. You can add invoice for room rent to your business account and can draw for room rent from your business account as office space rent, but follow the council rules for business rate, inform to council what you are running office from home if it is applicable Business rate team will let you know. ( i think it matter if your emplpyee aslo work from your home or clients visit to your place).
however wait for seniors suggessions.
Not sure where you read that you NEED to have a director's loan.john2030 wrote: ↑Tue Nov 26, 2019 8:10 pmI hope to be able to open my business account soon. and will then be able to transfer the investment amounts from my personal account to my business account:
i have read that i need to have a director's loan. do i need to do it via laywer /accountant, or are there ready templates?