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Self maintenance

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe

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vikramgulati
Newly Registered
Posts: 7
Joined: Tue Feb 02, 2016 3:22 pm

Self maintenance

Post by vikramgulati » Sat Feb 06, 2016 11:04 am

Dear All

I have a few questions regarding personal expenses from £200,000

a) After the £3310 kept in the bank is exhausted, how do we account for personal expenses? Can a director's remuneration be shown that will not be claimed under investments during renewal/extension?
b) I have a student loan that requires me to pay £240 a month in India, how can that be accounted for.

I do not have a professional accountant yet, so seek answer to these questions.

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zimba
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Posts: 20117
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
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Re: Self maintenance

Post by zimba » Sat Feb 06, 2016 3:04 pm

vikramgulati wrote:Dear All

I have a few questions regarding personal expenses from £200,000

a) After the £3310 kept in the bank is exhausted, how do we account for personal expenses? Can a director's remuneration be shown that will not be claimed under investments during renewal/extension?
b) I have a student loan that requires me to pay £240 a month in India, how can that be accounted for.

I do not have a professional accountant yet, so seek answer to these questions.
Your maintenance fund is expected to get you started in the uk. To be able to extend you visa, you are not suppose to pay yourself any remuneration from your 200k investment. You can pay yourself salary and satisfy your loan payments out of your profits only
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

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