Clarification That Entrepreneurs may want to keep in mind

shah012345 · Post by **shah012345** » Fri Dec 18, 2015 6:10 pm

Hi Guys this is my first post. Today i come across the recent changes in tier 1 entrepreneur visa and i notice this.
Home Office make some clarification and the point which effects me is the following.

> Money used to purchase a business from a previous owner will not count as being invested into the business. This includes money channelled through the business to the previous owner;

I am on Entrepreneurs visa 50k investment and i am successfully running my accountancy practice. When i started my practice approx 3 years ago, i bought some clients from different accountancy practice and i was under impression that i can show this as my investment, but after reading the above, i am in very tense situation that home office will not consider my investment and will refuse my visa. my extension is in March 2016.
The Clarification issued from home office will effect my circumstances or not ?

Please advise me if there is any one with similar situation.

Tier1newbie · Post by **Tier1newbie** » Sat Dec 19, 2015 11:07 am

shah012345 wrote:Hi Guys this is my first post. Today i come across the recent changes in tier 1 entrepreneur visa and i notice this.
Home Office make some clarification and the point which effects me is the following.

> Money used to purchase a business from a previous owner will not count as being invested into the business. This includes money channelled through the business to the previous owner;

I am on Entrepreneurs visa 50k investment and i am successfully running my accountancy practice. When i started my practice approx 3 years ago, i bought some clients from different accountancy practice and i was under impression that i can show this as my investment, but after reading the above, i am in very tense situation that home office will not consider my investment and will refuse my visa. my extension is in March 2016.
The Clarification issued from home office will effect my circumstances or not ?

Please advise me if there is any consultant or home office adviser around or any one with similar situation.

Hello

This is not a new change but it has been in the guidance for a very long time. i really cant see what can be done in this scenario as you are very near to your extension. The quickest and easiest way out of this can be buying a business premises and showing that as investment. Consult a really good solicitor and try to get an idea from him as to what can be done in such a situation or you will just have to try your luck with the original idea of paying the previous owner for clients.

Good Luck

Kkm · Post by **Kkm** » Mon Dec 21, 2015 5:45 pm

Hi, I am in a same situation did you find any help? Thanks

diamond07 · Post by **diamond07** » Tue Dec 29, 2015 1:11 am

Most likely to be rejected.
Therefore you should not depend on this.
And try to find different options.

But in case if you have no other options,
Then instead of saying you have paid previous owner for
Buying business from him,
You can make marketting contract between your company and the previous owner.

You can show in that contract that you have paid money to the person for referring clients to you.

You should have invoices given to you by previous owner ( in his name), for all the amounts that you have transferred to his accounts.

shah012345 wrote:Hi Guys this is my first post. Today i come across the recent changes in tier 1 entrepreneur visa and i notice this.
Home Office make some clarification and the point which effects me is the following.

> Money used to purchase a business from a previous owner will not count as being invested into the business. This includes money channelled through the business to the previous owner;

I am on Entrepreneurs visa 50k investment and i am successfully running my accountancy practice. When i started my practice approx 3 years ago, i bought some clients from different accountancy practice and i was under impression that i can show this as my investment, but after reading the above, i am in very tense situation that home office will not consider my investment and will refuse my visa. my extension is in March 2016.
The Clarification issued from home office will effect my circumstances or not ?

Please advise me if there is any one with similar situation.

avjones · Post by **avjones** » Wed Jan 06, 2016 12:17 am

diamond07 wrote: But in case if you have no other options,
Then instead of saying you have paid previous owner for
Buying business from him,
You can make marketting contract between your company and the previous owner.

You can show in that contract that you have paid money to the person for referring clients to you.

You should have invoices given to you by previous owner ( in his name), for all the amounts that you have transferred to his accounts.

I'm not quite sure how a quick bit of lying & forgery is actually good advice!

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Clarification That Entrepreneurs may want to keep in mind

Clarification That Entrepreneurs may want to keep in mind

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