Possible ways to invest in business under Entrepreneur Visa

I would like to know this from experts who understand the Entrepreneur visa guidelines and Accountancy or who has gone through Tier 1 Entrepreneur extension visa process.
To elaborate my question, how should the accounts be prepared if you are trading under Limited company. Is it as simple as just transferring all of your money in the company bank account and then use it from there for business purposes and prepare accounts but what about your own remuneration (salary) which is not included in the rules of spending or money paid to the employees or the contractors if you hire them on projects. Do these things count as investment to be shown for extension.

I have spoken to number of Chartered Accountants and they give sort of confusing answer. I would really appreciate if someone can explain it to me clearly.

Thanks in advance

krishan2014 wrote:I would like to know this from experts who understand the Entrepreneur visa guidelines and Accountancy or who has gone through Tier 1 Entrepreneur extension visa process.
To elaborate my question, how should the accounts be prepared if you are trading under Limited company. Is it as simple as just transferring all of your money in the company bank account and then use it from there for business purposes and prepare accounts but what about your own remuneration (salary) which is not included in the rules of spending or money paid to the employees or the contractors if you hire them on projects. Do these things count as investment to be shown for extension.

I have spoken to number of Chartered Accountants and they give sort of confusing answer. I would really appreciate if someone can explain it to me clearly.

Thanks in advance

In my experience, chartered accountants will not generally know how to comply with Home Office requirements, even if they've done it before.

Just make sure you follow to the letter what it says in the Tier 1 Entrepreneur Guidance about company accounts to evidence money already invested. Director's names should be clearly stated next to each transfer into the business account, any shares issued must state the names, you must provide a letter from the accountant certifying them etc. etc.

It's all in there.

That's true, accountants do not know the rules of HO. They will prepare accounts for you as they would prepare for any Ltd. Make sure that you spend £200k on your business, that includes any contractors and employees. You can not pay yourself salary or any payment from £200k, but if you make profits you can pay yourself as well.