Tier 1 Entrepreneur Extension Approved w/o Interview !

Asimnasimkhan wrote:Hi M Syed
I desperately need your help how can i manage to reach you mate are you on social media if you can share your name so i could find you there or moderators please help me to contact Mr Syed as i am under extreme pressure due to rough accountant and i desperately need consultation in intense mode
So moderators please help me may God ease your hardships as you ease the hardships of its people

Moderators i am quite desperate please help me as i am in need of it.
thanks
Asim

M. Syed wrote:By the grace of Allah my tier 1 entrepreneur extension approved in under 3 weeks time.

Application submitted: 07/01/2016
Biometric Done: 15/01/2016
Visa issued: 24/01/2016
Card received: 27/01/2016

THE KEY TO MY CASE WAS PRESENTATION & ONLY RELEVANT DOCUMENTS

I did apply for extension through 50K Route. All of the investment was made after the initial application & via bank transfer from personal to business account & as a director loan investment.

Below is the list of documents which I submitted. The relevant documents of each heading below were sent in a separate plastic transparent envelope (A4) with the title page at the top, so the case worker reads the page & finds the exact document in the envelope.

1) Application form
a. Main applicant application form with two photographs & passports
b. Dependants application forms with photographs & passports

2) Annual accounts
a. Report & accounts for first financial year 2013/14.
b. Form CT600
c. HMRC online filing log printout.

3) Annual accounts
a. Report & accounts for second financial year 2014/15.
b. Form CT600
c. HMRC online filing log printout.

4) Management accounts
a. Report & management accounts for current financial year 2015/16.
[The accounts must show the amount invested in the period of each financial year. In the application form, there is a chart given to fill out. I mentioned the accounts date & put whatever amount I invested in that particular year. E.g;
11/01/2014 £25K
11/01/2015 £15K
30/11/2015 £10K (Management accounts date)
You should not fill the form with each transaction you made through bank as my transactions were many. Also, the case worker looks at the date in the application form & will co-relate with your accounts. So, he/she will find the same dates & the same amount as in annual accounts submitted].

5) Corporation Tax documents
a. FORM CT41G
b. CT620 ACK for first year
c. CT620 ACK for second year
d. CT620 ACK for third year
e. CT610’s Corporation tax important dates (all three years)

6) Director’s Loan agreement
a. Unsecured Director’s Loan agreement
b. Letter of Investment from certified accountant
[The director loan on plain yellowish paper, dated before I started investing the money. It is always a good idea to put a witness in the letter as did I].

7) Business Bank Statement
a. Account name:
b. Account number
c. Sort Code:
[I put a sticky note on each page wherever there was a transaction from personal to business account. This would have saved the case worker from being so frustrated by finding such transactions in over 200 pages].

Current appointment report & filing History
a. Current appointment report for my company
b. Recent Filing history page
c. Certificate of incorporation of the company
[Even though I could get a free print outs of above, but I called companies house to provide me all of the above. It cost me £3 but it looked so original on the designated companies house stationary.

9) Full Payment Submission & Letter from accountant
a. RTI – Full Payment submission (FPS)
b. Letter from certified accountant confirming net creation of jobs
[Print out of all rti’s from the point your settled worker started working. These print must be signed by yourselves & if your company has an official stationary then stamp it]

10) Employee documents
a. Employee 1: Name of Employee
b. Employee Joining Statement
c. Form P60
d. Form P45
e. P11 deductions working sheets [Signed & Stamped]
f. Employee Proof of Identification [They should be the photocopy which you did for your own records before they started working for you. I did copy all ids before they started employment, signed & stamped & wrote Original documents seen & copied by (my name)]

11) Supporting documents
a. Business Insurance [all three years]
b. Recent trade contracts
c. Business Invoices
d. Online Advertisement

12) Share Certificate [Even though I did not go for the share certificate option but still I provided it]

13) Print out of Online Points Based calculator

14) Covering Letter

15) Maintenance Funds

I would like to thank all member & admin of this forum in helping me getting few answers. And now since I have found me peace, I wish you all the best if finding yours.
Questions are welcome but please make sure they are worth asking considering nature of my case. I am not a consultant but expert only on my case.

Massalam
Syed

confused90 wrote:Congratulations, Syed !

I just wanted to confirm that did you not submit proof of English language test?

Thanks.

jjs456 wrote:Hi Syed,
Congratulations. I would lie to know what did you submit for Real Time FPS? I use Sage one software. Should we submit reports from our software only? I get P11 and Monthly detailed report. But these reports do not have heading or confirmation that it was sumitted to HMRC. So I would like what exactly did you submit for Real Time FPS. Thanks you very much.

nasiaziz wrote:Hi did you submit ur personal bank statment from which the investment was transfferred to the company account or no?

M. Syed wrote:

nasiaziz wrote:Hi did you submit ur personal bank statment from which the investment was transfferred to the company account or no?

No. I submitted personal statement for maintenance only. But insubmitted all business statement pages & marked them with page breakers wherever there was any transaction from personal to business account.

Many thanks

M. Syed wrote:

jjs456 wrote:Hi Syed,
Congratulations. I would lie to know what did you submit for Real Time FPS? I use Sage one software. Should we submit reports from our software only? I get P11 and Monthly detailed report. But these reports do not have heading or confirmation that it was sumitted to HMRC. So I would like what exactly did you submit for Real Time FPS. Thanks you very much.

Dear friend,

Thanks. I submitted the RTI REPOSRTS which had a heading of RTI FPS provides by my accountant. I do not know what software he uses but thats RTI is submitted to HMRC on monthly basis & then the employer ni & tax is paid online in line with the monthly payroll expenses.

So just ask some accountant if you do not have your own.

Thanks

business genius wrote:Hi
I have to apply in 3 months time for entrepreneur extension.I just want to confirm that do we need to have business office and have to file rental agreement along with application or can have home as registered office or hot desk space is enough.

business genius wrote:Hi zimba888
Are you sure that there is no requirement for business office.did you check the application form? Schedule 3a or b to show about business address.also if we have staff where they are sitting at home.

legendfar wrote:re you sure that there is no requirement for business office.did you check the application form? Schedule 3a or b to show about business address.also if we have staff where they are sitting at home
((if we have staff where they are sitting at home.)) this is the point ? to be cleared as well ..

M. Syed wrote:

nasiaziz wrote:Hi did you submit ur personal bank statment from which the investment was transfferred to the company account or no?

No. I submitted personal statement for maintenance only. But insubmitted all business statement pages & marked them with page breakers wherever there was any transaction from personal to business account.

Many thanks