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Audit and Unaudit Accounts - Please help

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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hulkboy1379
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Posts: 32
Joined: Fri Jun 17, 2016 5:10 pm

Audit and Unaudit Accounts - Please help

Post by hulkboy1379 » Wed Aug 17, 2016 8:07 pm

Dear Gurus and Zimba, CR001

1 quick question on Audit and unaudited account

I am planning for extension in next month through tier 1 entrepreneur route (psw, 50k, DIrector)

There are two way how I can show my accounts as per my accountant
1 - 2013 (Complete year Audited Accounts),
2014(Complete year Audited Accounts),
2015(Complete year Audited Accounts),
2016 (Jan to August Audited Accounts, planning to file accounts early so that I can show profit clearly) and 2016 (Sep to Dec Management accounts)
OR
2 - 2013 (Complete year Audited Accounts),
2014(Complete year Audited Accounts),
2015(Complete year Audited Accounts),
2016 (Jan to Dec Management accounts)

My question is is there any problem in filing the accounts early as in my option 1, your guidance will be appreciated as we can show anything in management accounts, so I want to show Audited account.

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zimba
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Re: Audit and Unaudit Accounts - Please help

Post by zimba » Thu Aug 18, 2016 10:12 am

You are NOT required to submit multiple accounts and management accounts. The whole point of submitting accounts is to show that you invested the full amount. If an accounting period does not cover any investments then there is no need to submit those accounts. Produce management accounts if you made an investment in that period, otherwise you do no need to supply it. Just rely on your Audited Accounts covering the periods of investment and you are good to go
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

hulkboy1379
Newbie
Posts: 32
Joined: Fri Jun 17, 2016 5:10 pm

Re: Audit and Unaudit Accounts - Please help

Post by hulkboy1379 » Thu Aug 18, 2016 10:46 am

zimba88 wrote:You are NOT required to submit multiple accounts and management accounts. The whole point of submitting accounts is to show that you invested the full amount. If an accounting period does not cover any investments then there is no need to submit those accounts. Produce management accounts if you made an investment in that period, otherwise you do no need to supply it. Just rely on your Audited Accounts covering the periods of investment and you are good to go
Dear Zimba Thanks for the reply

I have invested in 2015 and 2016, so I need to submit only the audited accounts to HO for
2015 (Complete)
2016 (Jan to Aug as I am planning to file my accounts early this year)

Correct me if I am wrong.

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