Tier 1 Entrepreneur Extension in March 2016

omercheema619 wrote:Hi Guys

Applied Tier 1 Ent ext on Wednesday received by H/O on Thursday and fee was deducted on Friday.

Fingers crossed!

regards

Good luck mate, all the best!

HI Everyone,

Almost there, I have all the documents ready for final check by the solicitor in two days, Not sure, if she can finish it by Thursday. If we apply this Friday which is 18/3/2016. do i need to get a new form. or shall i force my solicitor to apply by Thursday and nit change the form for the fee difference.

also, she is saying that there are some grey areas in the application .

- loss made in the last year
- employee was paid less for two months, which we are not using to claim points. but we will have to put the date on the form.

Regards

Shaf

Hi shaf
if your solicitor or you application is fully ready then apply why waiting for new form and give extra fees
but wait for the expert opinions
by the way what to do mean by less paid to employee?

Hi Guys just need to check i have three different addresses in all my paper works HMRC as well as on company house, business bank statement three different address which changed during three years of entrepreneur
would that be any problem with it
and
i had two employee one did 28 hours from Feb 15 to May 15 and another one who did 2 hours per week (10hours per month) from Feb 15 to May 15 can i claim one full time employment to accumulate these two persons' hours
thanks in advance

shaf2008 wrote: also, she is saying that there are some grey areas in the application .

- loss made in the last year
- employee was paid less for two months, which we are not using to claim points. but we will have to put the date on the form.

Regards

Shaf

Loss: No problem with having a loss, nothing in immigration law about being profitable. (when I extended my visa I had no revenue yet as we were in development). May be worth a mention in covering letter why this is a blip and not the only future for the business.
paid less: was employee working over 30hrs/week and paid Min wage or above, I see no issue here. If less than that then may be an issue please share the actual arrangements so the forum can comment

Thanks for the updates.

i had an employee started in July 2014 . the minimum wage at that time was 6.31/hrs. the contract was for 30 hours. the minimum wage changed to 6.50/hrs in October 2014. but my accountant only told me in December 2014 and we started paying him above minimum wage from December. so for two months October and November we paid him less than national minimum wage. but once the accountant told me about this we gave me one day off in December to cover the difference.

But any way we are only claiming points from December 2014 to February 2016. as they are asking the whole employment history. if they check it , they can find out about the difference.

please give feedback.

also, do you think there will be new forms from 18/03/2016.

Put these months part time

Employe & Employer should be aware about any relevant changes,
As per employment related PBS rules it will not makes any difference other then on your claiming hours as total wage paid will be divided by per/HR wage which should be atleast at NMW level.

Pay slips should cover period for claimed employment only and this will be decided by the applicant.

shaf2008 wrote:Thanks for the updates.

i had an employee started in July 2014 . the minimum wage at that time was 6.31/hrs. the contract was for 30 hours. the minimum wage changed to 6.50/hrs in October 2014. but my accountant only told me in December 2014 and we started paying him above minimum wage from December. so for two months October and November we paid him less than national minimum wage. but once the accountant told me about this we gave me one day off in December to cover the difference.

But any way we are only claiming points from December 2014 to February 2016. as they are asking the whole employment history. if they check it , they can find out about the difference.

please give feedback.

also, do you think there will be new forms from 18/03/2016.

New fee will be introduce from 18/03 so should be

i had an employee started in July 2014 . the minimum wage at that time was 6.31/hrs. the contract was for 30 hours. the minimum wage changed to 6.50/hrs in October 2014. but my accountant only told me in December 2014 and we started paying him above minimum wage from December. so for two months October and November we paid him less than national minimum wage. but once the accountant told me about this we gave me one day off in December to cover the difference.
But any way we are only claiming points from December 2014 to February 2016. as they are asking the whole employment history. if they check it , they can find out about the difference.

Not paying the min wage is illegal and also against the immigration rules. As an employer you are solely responsible to make sure you are paying this (not your accountant)
However given that you are not claiming points for that period and you also made , HO probably will ignore the period in which you made the mistake. I say do not worry much.

also, do you think there will be new forms from 18/03/2016.

Given the fee changes from 18th, the form will be updated for sure.

hi All,

i provided the following to my solicitor and she is saying that we dont need to submit them
• P11
• CT600
• Payroll summary
• Your contract / T&C’s with your accountant
• Share certificates

looking forward to your comments

• P11 - Better to submit along the FPS but not necessary
• CT600 - You need to show you company is registered for CT, you have any other evidence ?
• Payroll summary - Not required
• Your contract / T&C’s with your accountant - Not required
• Share certificates - Not required in the immigration rules Appendix A any more, your accounts must now clearly show the share allocation and investment under you name. I suggest to include it though

Thanks Zimba ,

she is insisting not to submit them.

the whole form is ready and forwarded to one of her senior colleague to double check and give us her comments.

my visa expires on April the 4th, and we are now planning to submit on 23rd march.

also my solicitor said that we can use the same application form and only the payment page will change from this Friday.

shaf2008 wrote:Thanks Zimba ,

she is insisting not to submit them.

the whole form is ready and forwarded to one of her senior colleague to double check and give us her comments.

my visa expires on April the 4th, and we are now planning to submit on 23rd march.

also my solicitor said that we can use the same application form and only the payment page will change from this Friday.

P11 - Better to submit along the FPS but not necessary

• CT600 - You need to show you company is registered for CT, you have any other evidence ?
i have given her some other CT letters from companies house and HMRC , i think CT6124 or something

• Payroll summary - Not required
• Your contract / T&C’s with your accountant - Not required
• Share certificates - Not required in the immigration rules Appendix A any more, your accounts must now clearly show the share allocation and investment under you name. I suggest to include it though

we are claiming points based on directors loan. share certificate was additional for the shares issued in 2014

hi Zimba,

can you please respond to my previous post.

i am waiting for the final feedback from the senior solicitor . she is reviewing the whole pack now.

will submit everything on Wednesday next week.

i was told that i need to get a new payment page as the fee is changing .

Regards

Sha

shaf2008 wrote:hi Zimba,

can you please respond to my previous post.

i am waiting for the final feedback from the senior solicitor . she is reviewing the whole pack now.

will submit everything on Wednesday next week.

i was told that i need to get a new payment page as the fee is changing .

Regards

Sha

You do not need share certificates if you claim points based on loan investment so do not include it. Loan agreement and business statements showing investment is mandatory. You also have to wait until probably tomorrow where the forms will be updated.

May I ask is this mandatory that the evidence of showing the investment funds are either through Director's Loan or Share capital? Can the investment be the direct cash investment??

weirdofang wrote:May I ask is this mandatory that the evidence of showing the investment funds are either through Director's Loan or Share capital? Can the investment be the direct cash investment??

Both of them are direct cash investment options. It is just that from the legal point of view, the cash investment will be considered a director's loan (when you transfer it to your own company) or it is used to buy shares from a company (generally when you invest in an existing company)

zimba88 wrote:

weirdofang wrote:May I ask is this mandatory that the evidence of showing the investment funds are either through Director's Loan or Share capital? Can the investment be the direct cash investment??

Both of them are direct cash investment options. It is just that from the legal point of view, the cash investment will be considered a director's loan (when you transfer it to your own company) or it is used to buy shares from a company (generally when you invest in an existing company)

Thank you for you replay Zimba. I transferred 200K directly from my personal bank account to my company bank account, and later in the management account, my company indeed used all the 200k. But in the management account, there is no info in the NOTES page showing the investment in money made directly by me.

So my solution is that let my accountant draft a letter certifying that I indeed invested 200K directly into my business. Is this helpful? And is it possible to let accountant remake the management account, and add the info in the NOTES page? ....

I am really concerned about this, since I did not use share capital or directors loan.

weirdofang wrote: Thank you for you replay Zimba. I transferred 200K directly from my personal bank account to my company bank account, and later in the management account, my company indeed used all the 200k. But in the management account, there is no info in the NOTES page showing the investment in money made directly by me.

So my solution is that let my accountant draft a letter certifying that I indeed invested 200K directly into my business. Is this helpful? And is it possible to let accountant remake the management account, and add the info in the NOTES page? ....

I am really concerned about this, since I did not use share capital or directors loan.

HO requires the investment to be under your name which must be shown in the company accounts. You need to redo the management accounts asking your accountant to include the 200K as the director's loan investment under your name. You also need the loan agreement as required by the rules.

zimba88 wrote:

weirdofang wrote: Thank you for you replay Zimba. I transferred 200K directly from my personal bank account to my company bank account, and later in the management account, my company indeed used all the 200k. But in the management account, there is no info in the NOTES page showing the investment in money made directly by me.

So my solution is that let my accountant draft a letter certifying that I indeed invested 200K directly into my business. Is this helpful? And is it possible to let accountant remake the management account, and add the info in the NOTES page? ....

I am really concerned about this, since I did not use share capital or directors loan.

HO requires the investment to be under your name which must be shown in the company accounts. You need to redo the management accounts asking your accountant to include the 200K as the director's loan investment under your name. You also need the loan agreement as required by the rules.

Thank you for your reply!

I transferred my money to company bank account on 2013, and my first management accounts from 2013-2014 did not show the information about my investment. So what you mean is that i can let my accountant redo the 2013-2014 management accounts to include the 200K as the directors loan agreement, and make a loan agreement now? I am afraid my accountant cannot do this, because the 2013-2014 unaudited accounts has already submitted to Companies House....

It seems that I am in a dilemma...

I really don't think it's a big deal to sort this out. Your Accountant must have submitted Abbreviated Accounts to CH as required by law for most small businesses, which is not what you would normally present to the HO.
Explain to your Accountant to prepare a new Management Account that you would present to HO and should include Director's Loan with your full name stated. There is no material change or any misrepresentation of figures.

kunleoyewo wrote:I really don't think it's a big deal to sort this out. Your Accountant must have submitted Abbreviated Accounts to CH as required by law for most small businesses, which is not what you would normally present to the HO.
Explain to your Accountant to prepare a new Management Account that you would present to HO and should include Director's Loan with your full name stated. There is no material change or any misrepresentation of figures.

Thanks for your replay!

My visa will soon be expired on 23rd this month, I am contacting my accountant now!

Is it ok if £25000 was invested as shares and rest as directors loan?

weirdofang wrote:

kunleoyewo wrote:I really don't think it's a big deal to sort this out. Your Accountant must have submitted Abbreviated Accounts to CH as required by law for most small businesses, which is not what you would normally present to the HO.
Explain to your Accountant to prepare a new Management Account that you would present to HO and should include Director's Loan with your full name stated. There is no material change or any misrepresentation of figures.

Thanks for your replay!

My visa will soon be expired on 23rd this month, I am contacting my accountant now!

Did you get it sorted? Please provide some details.