Tier 1 General Refused - bank statements do not corroborate.

[sunjay]

I've applied for Tier 1 general recently and been refused. Claimed 25 points for previous earnings but awarded 20. The reason mentioned in refusal letter follows:

The evidence for your Self Employment cannot be corroborated as the accountants letter does not contain required information and the bank statements where indicated do not corroborate that two pay cheques were paid into the account.

I understand the 1st part of the reason as it was my fault that I did not research the HO guidelines properly and did not ask my accountant to create a full profit & loss account.

But I'm confused about the 2nd part of the reason. My account is with LLoyds Tsb and when I deposit a cheque, it only shows as "Paid In" in my statements. It does not show cheque number and it does not even show if the deposit is made in cash or in cheque.

I am planning to re-apply in next couple of months. I can sort out the 1st reason. But how do I make my statements show the the cheque number??

Thanks in advance for your suggestions.

[innocentdevil]

I've applied for Tier 1 general recently and been refused. Claimed 25 points for previous earnings but awarded 20. The reason mentioned in refusal letter follows:

The evidence for your Self Employment cannot be corroborated as the accountants letter does not contain required information and the bank statements where indicated do not corroborate that two pay cheques were paid into the account.

I understand the 1st part of the reason as it was my fault that I did not research the HO guidelines properly and did not ask my accountant to create a full profit & loss account.

But I'm confused about the 2nd part of the reason. My account is with LLoyds Tsb and when I deposit a cheque, it only shows as "Paid In" in my statements. It does not show cheque number and it does not even show if the deposit is made in cash or in cheque.

normally if you make a deposit into your bank account, it comes up saying cheque deposit or cheque deposit with cheque number. According to reasoning above it means that there were 2 payments for which you were claiming points but the monies going into the bank does not cross reference to the amounts on them. lets say you deposited a cheque for 50 pounds, on payslips or your letter or your accountants documents, it is not showing 50 (may be more or less) - hence the rejection.I am sure seniors will correct me if I am wrong

I am planning to re-apply in next couple of months. I can sort out the 1st reason. But how do I make my statements show the the cheque number??

Thanks in advance for your suggestions.

[sunjay]

Thanks for your reply innocentdevil.

I've depositted 2 cheques in the same day. In my statement it shows just "Paid in" followed by the TOTAL amount from those 2 cheques. It does not say if it was paid in cash or paid in cheque. I contacted Lloyds Tsb regarding this and they told me that the statements are not supposed to mention whether the deposit has come from cash deposit or cheque deposit. I've already issued some invoices to some of my clients who will pay me by cheque sometime next week. Now how do I resolve this issue? Can any other LLoyd Tsb customer here can confirm that this is the case with their statements as well??

[innocentdevil]

I am not with Lloyds so cannot advise you on this situation but I do have bank accounts with 3 different banks and never seen a case like that. A cheque deposit always says CHEQUE DEPOSIT on the bank statement along with the total amount deposited and same is the case for more cheques. They all appear separately. Only Lloyds can clarify that.

if you have got 2 x cheque deposits, is your accounts document not correlating with the bank statements .. i.e amount deposited via cheque into the bank.

if it is then shouldn't be an issue but if it is not (which in your case isn't ) .. you need to get those right by help of your accountant mate.

[Sushil-ACCA]

u should get from yr accoutant

1. Accounts - PL AND BS

2. Sales summary - invoice no, period of work , date credited in bank , amount received, (Extra data :name of supplier , contact details to make life easy)

3. Income certificate

than there will be no issue

any doubt in obtaining above documents / contents than post query here

[sunjay]

See the screenshots (cropped out) below from my statements.

Columns apper in following order:
Date
Payment Type
Details
Paid Out(£) *This column is the blank gap in both images.
Paid In(£)
Balance(£)

I know it's a very weird problem I'm having (may be I'm just unlucky)

[sunjay]

u should get from yr accoutant

1. Accounts - PL AND BS

2. Sales summary - invoice no, period of work , date credited in bank , amount received, (Extra data :name of supplier , contact details to make life easy)

3. Income certificate

than there will be no issue

any doubt in obtaining above documents / contents than post query here

Thanks Sushil for your precise and informative post.

[Sushil-ACCA]

relax and sort it out with yr accountant

all the best

[crowbar6]

Is it not possible to get future payment done into your account by BACS instead of cheques?

[sunjay]

Is it not possible to get future payment done into your account by BACS instead of cheques?

Thanks for the input Crowbar but I'm not sure if BACS will be possible or not.

Some of my customer even dont have business accounts. They pay me from their personal account. Some of my customers wanted to pay me as cash in hand. I had to convince them to pay me in cheque. So it is very unlikely that they will go through the hassle of setting up BACS.

[nksg]

Hi Sanjay,

Apologies for the ignorance but looking at your posts i am thinking you have deposited both the cheques in one "pay in slip" at the branch. I have experianced myself when i deposited two cheques in one payment slip bank ususally credits the total amount (cheque 1 + cheque 2) which is displayed on the bank statement. So the best practice for the future would be to use two or more different payment slips for more than one cheques.

As far as your payment is concerned,

i think if you can show counter part of the payment slip (if you filled in the details of both the cheques) should work.. or a letter from the bank would be a good idea. I know HSBC does this way but not sure of Lloyds.

All the best!!

Is it not possible to get future payment done into your account by BACS instead of cheques?

Thanks for the input Crowbar but I'm not sure if BACS will be possible or not.

Some of my customer even dont have business accounts. They pay me from their personal account. Some of my customers wanted to pay me as cash in hand. I had to convince them to pay me in cheque. So it is very unlikely that they will go through the hassle of setting up BACS.

[sunjay]

Thanks nksg for your reply.

I did not fill up any Paying in Slip for those 2 cheques. I just handed over my bank card and those cheques to the person in the counter. So I dont have any counter part. In most banks these days, there are no paying in slips to fill if you want to pay in to someone. Even if there is any paying in slip to fill up, there is no counter part which you can keep.

I just paid in to someone today who got an account in Abbey, I didnt have to fill up anything.

See the images I've posted in one of my earlier posts. I deposited a cheque for £10 on 20th October by filling up a payin slip. As you can see it still doesn't say of the deposit was made in cheque or in cash.

However, I'll have a chat with Lloyds Tsb and try to get a letter.

[sunjay]

Hi all...just to give you an update of my situation...

I wen to Lloyds and had a chat with the manager about giving me a letter mentioning cheque numbers. The manager agreed to issue me such a letter but told me off to not deposit any "business" money in my personal account. Finally she opened me a sole trader business account.

Now it's a question for the seniors/experts that do I have to maintain any specific paperwork whenever I want to withdraw money from my sole trader business account??

Thanks in advance for your replies.