Extension of Tier 1 Entrepreneur

[tancs]

I am due to apply for the extension in Oct 21. I have a few questions

a) Is the "accounts compilation report" a standard one that any account could do based on general practice or is it something that would need to comply with specific terms of reference issued by the Home Office

b) In addition to investing £200,000, does the amount need to be spent at the point of the renewal. Is it a requirements.

[marcnath]

I am due to apply for the extension in Oct 21. I have a few questions

a) Is the "accounts compilation report" a standard one that any account could do based on general practice or is it something that would need to comply with specific terms of reference issued by the Home Office

b) In addition to investing £200,000, does the amount need to be spent at the point of the renewal. Is it a requirements.

a) It is a standard one
b) No

[tancs]

Thanks marcnath!

Few more questions.
1) For the accounts, is accounts compilations report required for all the account or just the final year.
2) Do we also need to submit management account between the last set of compilations report to the date of my application of extension (about 11 months)
3) Does the accountant need to attest iin some form that I have satisfy the criteria of employing the two persons. Or is this something that the Home Office will do themselves?

[marcnath]

Thanks marcnath!

Few more questions.
1) For the accounts, is accounts compilations report required for all the account or just the final year.
2) Do we also need to submit management account between the last set of compilations report to the date of my application of extension (about 11 months)
3) Does the accountant need to attest iin some form that I have satisfy the criteria of employing the two persons. Or is this something that the Home Office will do themselves?

1) The requirement is only for1 set of accounts to be submitted and that needs to have the report. What you do or don't do with the rest of the accounts is immaterial. It is not necessarily the final year, it can be any year that shows the full investment.
2) No (refer above)
3) No for new businesses. Yes, if you have joined an existing business.

[tancs]

Thanks marcnath!

My wife is with me on a dependent pass. She will also need to apply for her extension.

How do we make our application together? I mean do we submit it separately or together?

If we apply separately, do we need to reference her application to mine so the Home Office can link them together?

[marcnath]

Thanks marcnath!

My wife is with me on a dependent pass. She will also need to apply for her extension.

How do we make our application together? I mean do we submit it separately or together?

If we apply separately, do we need to reference her application to mine so the Home Office can link them together?

I am not familiar with the online process but you can always just start off the process and it will guide you through