When is £200k considered to be fully invested over 3 years?

Hello everyone. I am thinking of switching to Entrepreneur Tier 1.

Would be very thankful for advices on:

1. When is 200k considered to be invested fully - is it when the company is registered and funds (200k) transfered to its business bank a/c? Or how does it work? Need to figure out how the money need to be used, especially if I would not be making significant profits for initial period.

2. Can it be a charity business/cultural company?

Many thanks for reading this and your thoughts!

D

You need to register the company within six months but you can seed the capital any time within the 3 years. As long as the full amount has been seeded before you apply for an extension.

sky_rise wrote:Hello everyone. I am thinking of switching to Entrepreneur Tier 1.

Would be very thankful for advices on:

1. When is 200k considered to be invested fully - is it when the company is registered and funds (200k) transfered to its business bank a/c? Or how does it work? Need to figure out how the money need to be used, especially if I would not be making significant profits for initial period.

2. Can it be a charity business/cultural company?

Many thanks for reading this and your thoughts!

D

Also
It has to be a profitable business
hence you have to make sure you make a profit