Tier 1 (Entrepreneur) team queries

Hello fellows
I want to confirm that our team have transfered £50000 to our business account dated May 2013 from directors personal
Bank account. we took about £26600 director remuneration monthly wages in last two years. Fortunaely we transferred £27000 from joint account of (both directors)in five transaction since 2015.

Is this will be an issue for us.
Regards
Ik

Zimba88 have glance please

Business2business wrote:Hello fellows
I want to confirm that our team have transfered £50000 to our business account dated May 2013 from directors personal
Bank account. we took about £26600 director remuneration monthly wages in last two years. Fortunaely we transferred £27000 from joint account of (both directors)in five transaction since 2015.

Is this will be an issue for us.
Regards
Ik

As long as you show that you invested £77k in your business. Your Director's loan agreement and business bank statements must confirm this very clearly. Net investment to your business must be at least 50K and that is excluding what HO does not consider (e.g Director's remuneration, purchase from previous owner, property, etc)

Thanks zimba88
Really appreciate your efforts and comments

i am assuming his business must have had some turnover as well so in that case do we have to still invest back what we got as director salary or we can claim that director salary was from business sales?

FKS21177
it means that the actual investment fund requirement is 50000 which is the most important requirement. so if we successfully transferred that fund to our business account but UKVI saying in the guidance that Director remuneration is excluding from business investment.so we can concluded the following table which was advised by my Accountant.

Actual Investment transferred. 50000 to business account
Director remuneration. 26600 which was transferred from business account
we need to put those director remuneration (26600) back to the company business account because we need to prepared Director loan Agreement.
note we need to do this process if our turnover is more the 50000.

regards
ik

thanks business2business for ur reply.... actually my question was: let suppose i transffered 50000 from my personal to business and my business is also generating revenue each year. how do we have to prove that director salary was from revenues not that 50k investment ?? or do we still have to invest back whatever has been taken as director salary?

Business2business wrote:FKS21177
it means that the actual investment fund requirement is 50000 which is the most important requirement. so if we successfully transferred that fund to our business account but UKVI saying in the guidance that Director remuneration is excluding from business investment.so we can concluded the following table which was advised by my Accountant.

Actual Investment transferred. 50000 to business account
Director remuneration. 26600 which was transferred from business account
we need to put those director remuneration (26600) back to the company business account because we need to prepared Director loan Agreement.
note we need to do this process if our turnover is more the 50000.

regards
ik

You will show that fund is still available in it business account.

Hi Zimba88, fpz83, all user,
Is this an issue from extension
171. You must also provide any changes to the worker’s hourly rate and the dates of this change. This enables the hours worked to be accurately calculated by dividing the earnings by the hourly rate'.
This is from guidance
How can someone proof the employee pay rate is increased in HMRC document I can only see that pay slips can show but at my RTIs FPS it is not showing any increase of pay rate only total wages is increase.

Please share your thoughts
Regards
Ik

Business2business wrote:Hi Zimba88, fpz83, all user,
Is this an issue from extension
171. You must also provide any changes to the worker’s hourly rate and the dates of this change. This enables the hours worked to be accurately calculated by dividing the earnings by the hourly rate'.
This is from guidance
How can someone proof the employee pay rate is increased in HMRC document I can only see that pay slips can show but at my RTIs FPS it is not showing any increase of pay rate only total wages is increase.

Please share your thoughts
Regards
Ik

This means you have to enter the periods with different pay rates in the employment table on the form as if these periods were separate employments. No documentary evidence is required according to the rules as payslips and FPS reports generally do not have hourly rate on them. You can get a certificate from your accountant if you wish to confirm the rates.

Thank you because every October pay rate is increased And now from April also increased

xxxxxxxxxxx xxxxxx
xxxxxxxx
xxxx xxxx
xxxxxxxxxxxxxxxx

Date xx/xx/xxxx

UK Visas & Immigration
Home Office
Tier 1
PO Box 496
Durham
DH99 1WQ





Re: Tier 1 Entrepreneur Extension (xxxxxxxx)


Dear Sir/Madam,

I, Mr. xxxxxx xxx xxx , Date of birth: xx/xx/xxxx, xxxxxxx national, hereby write this letter in support of my application for my Tier 1 Entrepreneur Extension Visa. I satisfy the relevant criteria for the grant of my application as follows:


Following documents are enclosed in support of Application




1) Application Forms
a. Main applicant application form with two photographs & passports
b. Dependent’s application form with two photographs & passport

2) Annual Accounts
a. Report & accounts for first financial year 2013/14.

b. Report & accounts for second financial year 2014/15.

c. Reports & accounts for third financial year 2015/16.




3) Investment
a. Legal Director’s Loan agreement
b. Identifiable transactions in the company bank statement
c. Letter of Investment from certified accountant
d. An accounts compilation report


4) Evidence of investment in the UK business
a. Printout of a Companies House registered Office in the UK
b. Company Business Account in the UK
c. HMRC Corporation Tax Forms

5) Companies House evidence for Directors of the company
a. Current appointment report (three months old)
b. Recent Filing history page
c. Company Register Information
d. Certificate of incorporation of the company

6) Job Creation
a. HMRC online Real time information (RTI) tax years Printout
b. Real Time-Full Payment Submissions (Monthly)
c. Employee Pay slips (wages slips)
d. HMRC P60
e. HMRC P45
f. HMRC P46
g. P11 deductions working sheets
h. Both employees’ passport and visa Copies

7) Corporation Tax Documents
a. HMRC Form CT41G 09 May 2013
b. HMRC Form CT620 ACK Period 2013/2014
c. HMRC Form CT620 ACK Period 2014/2015

Supporting document
a. Business Insurance [all three years]


9) UKVI Self-Assessment Summary






10) Entrepreneur Team Member

If you are not the sole partner or sole director in your business or
Businesses, you must
Provide all of the following:
a. The names of the other partners or directors
Name: Mr. xxxxxx xxx .

b. Whether any of the other partners or directors are also Tier 1 (Entrepreneur) migrants;
No Mr. xxxxx xx i is not Tier 1 (Entrepreneur) Migrants now he has changed his immigration status to Indefinite Leave to Remain since xxxx xxxxx.
.
c. The dates that any other Tier 1 (Entrepreneur) migrant became a partner or director of
The business;
Mr. xxxxxxx xxx became my business partner (Director) dated xx/xx/2013.

d. Whether you and the other Tier 1 (Entrepreneur) migrant are team members who will

be sharing evidence of job creation;

Mr. xxxxx xxxxxx xxxx (Director) can only share evidence of job creation. First employee name is: Mr. xxxxxx xxxxx and second employee name is:
Mr. xxxxxxxx xxxxx



e. If they have made (or are making) an application for an extension you must provide the
names of the jobholders they are claiming points for.
My business partner (Director) do not need to apply for Tier 1 Entrepreneur
Extension.


11) Covering Letters
a. This covering letter.
b. Covering letter of investment and business bank transactions table.
c. Covering letter of job creation and employee data table.


12) English language skills
a. Have already proven in my previous Tier 1 Entrepreneur Visa Application
13) Maintenance Funds
Please refer to paragraphs 319C, 319H and appendix E of the Immigration Rules

49. If the Tier 1 Migrant has been in the United Kingdom for 12 months or more, you must have£630 to support yourself.
51. If the same Tier 1 Migrant and their family had been present in the UK for two years, they would require evidence that they held £2835 (£630 x 3 = £1890 + £945) in available funds.
52. If you are applying as the family member of a Tier 1 (Entrepreneur) migrant you cannot use the same funds to meet the maintenance requirement that the Tier 1 (Entrepreneur) used to meet the attributes requirement (appendix A of the Immigration Rules).

a. Main Applicant original Personal Lloyds Bank Statement for Maintenance funds, Account Number 000000, Sort Code 00-00-00, showing more than £945 for Main Tier 1 applicant and £630 for Tier 1 Dependent (wife) maintenance for 90 consecutive days.









Yours faithfully



Signature



Mr. I U K

Hello,

Thanks for sharing cover letter,
You cover all document as per requirement ,

I m not immigration advisor , I am also tier 1 entreprenure visa holder , I read your letter but I think you forget to include personel bank statement ( 50000 trancefer personel account to business account for director loan )

Any way , when you apply for extantion?

Please share timeline

Thanks

Patel

b. Covering letter of investment and business bank transactions table

Dear Business2business,

Many thanks for your valued information.
Please tell us how we can get:

1-UKVI Self-Assessment Summary
2-HMRC online Real time information (RTI) tax years Printout

Jafersadeq
1 ukvi self assessment summary will be find at home office ukvi website for point calculation for your visa.
2 HMRC online real time information printout I
Have HMRC login and used sniping tool to
Print out from HMRC website. Which look so genuine
Regards
Ik

Business2business wrote:Jafersadeq
1 ukvi self assessment summary will be find at home office ukvi website for point calculation for your visa.
2 HMRC online real time information printout I
Have HMRC login and used sniping tool to
Print out from HMRC website. Which look so genuine
Regards
Ik

Thanks
Please write the link of ukvi for assesment
regards

Business2business,

This is very valuable. Thank you.

[quote="jafersadeq"][quote="Business2business"]Jafersadeq
1 ukvi self assessment summary will be find at home office ukvi website for point calculation for your visa.
2 HMRC online real time information printout I
Have HMRC login and used sniping tool to
Print out from HMRC website. Which look so genuine
Regards
Ik[/quote]

Thanks
Please write the link of ukvi for assesment
regards[/quote]
sorry
The points calculator is no longer available i have just checked UKVI website