Accounts preparation and application

My brother applied for his Tier 1 Entrepreneur in 2012 and he is due to apply for his ILR this year.

Is it necessary to get accounts prepared as per the format required by HO and submit them with the application again at the time of ILR to show that the investment is still in the business?

Also, can Tier 1 Entrepreneur applicants only apply by post? I think there is a way to fast-track postal applications, but I believe that is not available for Tier 1 Entrepreneur applicants?

Lastly, if the business is in loss, can this lead to refusal on the basis that HO thinks that there is a risk that you might use public funds?


Thank you for your help.

Is it necessary to get accounts prepared as per the format required by HO and submit them with the application again at the time of ILR to show that the investment is still in the business?

No, it is not required

Also, can Tier 1 Entrepreneur applicants only apply by post? I think there is a way to fast-track postal applications, but I believe that is not available for Tier 1 Entrepreneur applicants?

Tier 1E five year ILR currently can be done only via post

Lastly, if the business is in loss, can this lead to refusal on the basis that HO thinks that there is a risk that you might use public funds?

Not really, you can choose to show any income or savings you have to prove you will not be a risk

Thank you for your reply, Zimba.

Do you think that it would still be advisable to submit the accounts for the accounting year ending just before the application for genuine entrepreneur test purposes, even though it is not mandatory to do so?

No, you get the investment points automatically

Thank you, Zimba.