Anyone extension on Feb or March? Processong time.

I started a new business but would it be better to submit an accountant's letter? I submitted half the amount as a directors loan and rest as shares, but it looks like nearly everyone invested either as loan or shares, not both.

Also, is it ok if directors report says: The following directors held office:.


And then I just sign under the report? Or does the name have to be written under the report?

midas5 wrote:I started a new business but would it be better to submit an accountant's letter? I submitted half the amount as a directors loan and rest as shares, but it looks like nearly everyone invested either as loan or shares, not both.

I will also be interested to see response on this.

midas5 wrote:I started a new business but would it be better to submit an accountant's letter? I submitted half the amount as a directors loan and rest as shares, but it looks like nearly everyone invested either as loan or shares, not both.

The general idea is that Director's Loan mainly means to inject cash in to your own business. Share option is usually used to invest in an existing business you are trying to join. You can use either form of investment in but the evidence of such investment must be exactly as given in the Appendix A.
An accountant letter is required to confirm job creation only if you joined or took over an existing business. For investment, you need to submit accounts and compilation report, loan agreement, share certificates, .. etc

Hi Zimba


It is a new business. So I cannot show 5000 fresh investment as shares and 45000 as director loan?

midas5 wrote:Hi Zimba


It is a new business. So I cannot show 5000 fresh investment as shares and 45000 as director loan?

who said you cannot ?? My question is why you need to options ?? Why not all of it as director's loan ?

zimba88 wrote:

midas5 wrote:Hi Zimba


It is a new business. So I cannot show 5000 fresh investment as shares and 45000 as director loan?

who said you cannot ?? My question is why you need to options ?? Why not all of it as director's loan ?

I wanted to invest partly in shares and I did this soon after I got my visa initially. The rest I have put in as a loan and now I am worried about what to do as I don't have time to transfer more of shares or loan to show all as one investment type as I must apply next week?

midas5 wrote:

zimba88 wrote:

midas5 wrote:Hi Zimba


It is a new business. So I cannot show 5000 fresh investment as shares and 45000 as director loan?

who said you cannot ?? My question is why you need to options ?? Why not all of it as director's loan ?

I wanted to invest partly in shares and I did this soon after I got my visa initially. The rest I have put in as a loan and now I am worried about what to do as I don't have time to transfer more of shares or loan to show all as one investment type as I must apply next week?

HO accepts both as long as you have the evidence as given in the rules. Focus on getting the documents. Too late to make changes now

Thank you for your help.
I have both shares and loan under my name in my management accounts. Moreover, I have register of the company, director's loan agreement, bank statements to show transactions for shares and loan.
I will also look for my share certificates.
What else is left that I still need in addition to the above?

hi Zimba,

I have query regarding last years accounts.

Do i have to send all 3 years accounts as in my case i have 2 years unaudited accounts which shows director loan and i have last years management account which shows main investment ?

Need advice.

midas5 wrote:Thank you for your help.
I have both shares and loan under my name in my management accounts. Moreover, I have register of the company, director's loan agreement, bank statements to show transactions for shares and loan.
I will also look for my share certificates.
What else is left that I still need in addition to the above?

You should be fine with those.

regularuser wrote:hi Zimba,

I have query regarding last years accounts.

Do i have to send all 3 years accounts as in my case i have 2 years unaudited accounts which shows director loan and i have last years management account which shows main investment ?

Need advice.

What do you mean shows main investment ?

Means i have made all the investment last three months as in my business we don't need that much cash. Initially i have invested around 20k for startup.

i have changed the accountant as last was not that competent. do i have to put last 2 years unaudited and last years management account or just only last years management with all 3 years figures including directors loan ?

regularuser wrote:Means i have made all the investment last three months as in my business we don't need that much cash. Initially i have invested around 20k for startup.

i have changed the accountant as last was not that competent. do i have to put last 2 years unaudited and last years management account or just only last years management with all 3 years figures including directors loan ?

I suggest you provide all three. They must have compilation report page and show the investments made under your name.

zimba88 wrote:

midas5 wrote:Thank you for your help.
I have both shares and loan under my name in my management accounts. Moreover, I have register of the company, director's loan agreement, bank statements to show transactions for shares and loan.
I will also look for my share certificates.
What else is left that I still need in addition to the above?

You should be fine with those.

Thanks. I was told by an immigration adviser that if I want, I can invest more and apply within 28 days of leave expiring. However, I really do not want to be an over-stayer when I have already made the required investment as it does not seem worth it.

In the guidance, it says that the value of residential accommodation should be stated in a RICS surveyor report. What if you rent a flat and part on the rent is for office use? Do we still need someone to evaluate this as correct, or does this issue arise only if there is a purchase of property?

Thanks to anyone who can help me as I am applying on Wednesday.

Does the company have to pass a board resolution. I thought this was only needed when the company gives the loan. He was also saying that I need to register a charge with Companies House?

Surely a charge applies only in the case of a secured debt?

Hi

All Following is the list of documents I supplied with my application.

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

2) Annual accounts X 3
a. Report & accounts for first financial year 2013/2014/2015.
b. Form CT600
c. HMRC online filing log printout.

3) Management accounts September 2015 onwards
a. Report & management accounts for current financial year 2015/16, september 2015 onwards

4) 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)

5) 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].

6) Business & Personal Bank Statement
a. Account name:
b. Account number
c. Sort Code:


7) Current appointment report & filing History
a. Current appointment report for my company
b. Recent Filing history page
c. Certificate of incorporation of the company
d. Original letter showing PAYE reference number
e. Original letter showing Corporation Tax reference number

8 ) Full Payment Submission & Letter from accountant
a. RTI – Full Payment submission (FPS)
b. Letter from certified accountant confirming net creation of jobs with rates ( See note 1 at the bottom)
[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]

9) Employee documents
a. Employee 1: Name of Employee
b. Employee Joining Statement
c. Form P60
d. Form P45 (if applicable)
f. Passport copies signed & Stamped
g. 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)]

10) Supporting documents
a. Business Insurance
b. Recent trade contracts [twocontracts]
d. Academic documents
e. NHS Surcharge
f. Website / Business cards

11) Share Certificate

12) Print out of Online Points Based calculator

13) Covering Letter

14) Maintenance Funds

Also note that my cover letter was quite comprehensive of about 13 pages with all details linking to appendix items (above mentioned).

Kind regards
Mo

^^ Thanks for sharing.
Had you already invested the funds beforehand? Just wondering because I thought you said you had but I see you submitted your shares and all loan related proof.

Hi DD156

Yes I did all investment in my previous application but I still provided documents as supporting documents so that H/O should not have any iota of doubt about anything.

regards
M

Tier1 Extension 50k Category

1. Date application posted 25/03/16
2. Date payment debited: 01/04/16
3. Date Biometric Letter Received: waiting

13 working days gone but still waiting for Biometric, What possibly could be the reason? Any idea...

kash80 wrote:Tier1 Extension 50k Category

1. Date application posted 25/03/16
2. Date payment debited: 01/04/16
3. Date Biometric Letter Received: waiting

13 working days gone but still waiting for Biometric, What possibly could be the reason? Any idea...

Hi kash80,

My application was posted -17/03/2016
Payment debited - 04/04/2016 old fee
Biometric letter (dated 14/04/16) recieved 18/04/16
Letter recieved with payment page to pay difference of new fee today ie 20/04/16

Hopefully you will recieve your biometric letter
any day now

Good luck

omercheema619 wrote:Hi

All Following is the list of documents I supplied with my application.

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

2) Annual accounts X 3
a. Report & accounts for first financial year 2013/2014/2015.
b. Form CT600
c. HMRC online filing log printout.

3) Management accounts September 2015 onwards
a. Report & management accounts for current financial year 2015/16, september 2015 onwards

4) 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)

5) 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].

6) Business & Personal Bank Statement
a. Account name:
b. Account number
c. Sort Code:


7) Current appointment report & filing History
a. Current appointment report for my company
b. Recent Filing history page
c. Certificate of incorporation of the company
d. Original letter showing PAYE reference number
e. Original letter showing Corporation Tax reference number

8 ) Full Payment Submission & Letter from accountant
a. RTI – Full Payment submission (FPS)
b. Letter from certified accountant confirming net creation of jobs with rates ( See note 1 at the bottom)
[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]

9) Employee documents
a. Employee 1: Name of Employee
b. Employee Joining Statement
c. Form P60
d. Form P45 (if applicable)
f. Passport copies signed & Stamped
g. 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)]

10) Supporting documents
a. Business Insurance
b. Recent trade contracts [twocontracts]
d. Academic documents
e. NHS Surcharge
f. Website / Business cards

11) Share Certificate

12) Print out of Online Points Based calculator

13) Covering Letter

14) Maintenance Funds

Also note that my cover letter was quite comprehensive of about 13 pages with all details linking to appendix items (above mentioned).

Kind regards
Mo

Thank you for list of documents.

What was wording of your share certificate and amount?

Did you just sign it or was there any witness as well?

Thanks to Almighty, got my extension approved today. It was 200K & the time line is following,

1. Date application posted 3/3/2016
3. Date payment debited: 7/3/2016
4. Date Biometric Letter Received: 10/3/2016
5. Date of biometric enrolment : 16/3/2016
6. Date leave to remain valid from: 19/04/2016
7. Date passport n document received: 21/04/2016

Thanks to everyone and specially Zimbaa for your kind help and knowledge sharing.

abdhriz wrote:Thanks to Almighty, got my extension approved today. It was 200K & the time line is following,

1. Date application posted 3/3/2016
3. Date payment debited: 7/3/2016
4. Date Biometric Letter Received: 10/3/2016
5. Date of biometric enrolment : 16/3/2016
6. Date leave to remain valid from: 19/04/2016
7. Date passport n document received: 21/04/2016

Thanks to everyone and specially Zimbaa for your kind help and knowledge sharing.

Congrats mate!
If you don't mind plz share your list of documents I'm applying next month on 200k route as well,this will be help for me to prepare my case..thanks