ESC

Click the "allow" button if you want to receive important news and updates from immigrationboards.com


Immigrationboards.com: Immigration, work visa and work permit discussion board

Welcome to immigrationboards.com!

Login Register Do not show

Tier 1 Entrepreneur Extension in March 2016

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

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by zimba » Fri Feb 26, 2016 12:32 pm

I did not submit my certificate of incorporation because I do not think it was stated as one of the required documents.
It is not required
I also did not submit my UK degree certificate because I indicated that I had claimed points for it during the initial application so do not need to prove it at this stage.
That is also true. You can automatically claim points during extension if your previously submitted documentation is still considered valid by HO.
I did not submit an accountants letter confirming the amount of investment in the business, although I submitted my last unaudited annual accounts (my year end is 31 Dec) which also includes an Accountants Compilation Report.
Such a letter is not required but you can get it if you like. Accountant's letter is required when you took over/joined a business to confirm net job increase.
shaf2008 wrote: How can i get . Bank letter confirm business is trading and I am the signatory of the business
when i check with the bank, they told me to provide statement as a proof. and they will not issue such letters it seems.
You can instead just send in your business bank statements. You have to either send a bank statement showing transactions OR a letter confirming you have a bank account and you are the signatory.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by zimba » Fri Feb 26, 2016 12:36 pm

raj.m wrote: My entrepreneur visa (50k route) is expiring in April 2016 and I am going to submit my application soon. If you don't mind, can I ask for some clarification? I've invested the entire £50k as share capital, do I need to send my business bank statements and personal bank statements to show that the money was transferred to the business account?
According to the immigration rules this is only required when investing in the form of Director's Loan. However you can include them if you want.
Also, in relation to the HMRC letter, the latest CT600 I have is from 2015. Is that a problem? Does it have to be within some timeframe from when you're applying? And how do I get a print out of HMRC Corporation Tax reference number?
No time frame is there. The CT600 already has your tax reference number on it
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

raj.m
Member
Posts: 232
Joined: Fri Feb 26, 2016 12:21 pm
Mood:
India

Re: Tier 1 Entrepreneur Extension in March 2016

Post by raj.m » Fri Feb 26, 2016 12:40 pm

I did not submit an accountants letter confirming the amount of investment in the business, although I submitted my last unaudited annual accounts (my year end is 31 Dec) which also includes an Accountants Compilation Report.

Zimba: Such a letter is not required but you can get it if you like. Accountant's letter is required when you took over/joined a business to confirm net job increase.
Hi Zimba,

My year end is June, so my last unaudited accounts that I have are up to June 2015. I am trying to change my year end to February now and planning to ask my accountant to prepare accounts up to February 2016. Will this do? Or is there another solution to this? How do I go about showing them what I've done between July 2015 and now?

Also, one more question, if that's okay. My visa is expiring on 8 april 2016 but I won't be able to apply at least until 20th march 2016. Is this a problem as they recommend applying at least a month before the visa expires?

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by zimba » Fri Feb 26, 2016 12:48 pm

raj.m wrote: My year end is June, so my last unaudited accounts that I have are up to June 2015. I am trying to change my year end to February now and planning to ask my accountant to prepare accounts up to February 2016. Will this do? Or is there another solution to this? How do I go about showing them what I've done between July 2015 and now?
You don't need to change your year end dates. Ask your accountant to produce management accounts instead (aka interim accounts) up to the end of this month for example.
Also, one more question, if that's okay. My visa is expiring on 8 april 2016 but I won't be able to apply at least until 20th march 2016. Is this a problem as they recommend applying at least a month before the visa expires?
No, It is recommended but you can apply until before your visa expires.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

raj.m
Member
Posts: 232
Joined: Fri Feb 26, 2016 12:21 pm
Mood:
India

Re: Tier 1 Entrepreneur Extension in March 2016

Post by raj.m » Fri Feb 26, 2016 12:50 pm

zimba88 wrote:
raj.m wrote: My year end is June, so my last unaudited accounts that I have are up to June 2015. I am trying to change my year end to February now and planning to ask my accountant to prepare accounts up to February 2016. Will this do? Or is there another solution to this? How do I go about showing them what I've done between July 2015 and now?
You don't need to change your year end dates. Ask your accountant to produce management accounts instead (aka interim accounts) up to the end of this month for example.
Also, one more question, if that's okay. My visa is expiring on 8 april 2016 but I won't be able to apply at least until 20th march 2016. Is this a problem as they recommend applying at least a month before the visa expires?
No, It is recommended but you can apply until before your visa expires.

Thank you so much. You've been very helpful. I'm sorry for bombarding you with questions. One final question :P

Is it compulsory to send HO the business insurance documents?

I was thinking of sending some leaflets, business cards, printouts of my website..to show them some marketing that I did for my own company. Is this a good idea or this is something extra and I should only send them what they're asking for?

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by zimba » Fri Feb 26, 2016 1:08 pm

Is it compulsory to send HO the business insurance documents?
I was thinking of sending some leaflets, business cards, printouts of my website..to show them some marketing that I did for my own company. Is this a good idea or this is something extra and I should only send them what they're asking for?
None of them is required or compulsory. It is up to you to send those documents but your application will be decided without them being considered.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

raj.m
Member
Posts: 232
Joined: Fri Feb 26, 2016 12:21 pm
Mood:
India

Re: Tier 1 Entrepreneur Extension in March 2016

Post by raj.m » Fri Feb 26, 2016 1:12 pm

zimba88 wrote:
Is it compulsory to send HO the business insurance documents?
I was thinking of sending some leaflets, business cards, printouts of my website..to show them some marketing that I did for my own company. Is this a good idea or this is something extra and I should only send them what they're asking for?
None of them is required or compulsory. It is up to you to send those documents but your application will be decided without them being considered.

Thank you once again :)

shaf2008
Member
Posts: 102
Joined: Fri Dec 18, 2015 4:44 pm

Re: Tier 1 Entrepreneur Extension in March 2016

Post by shaf2008 » Fri Feb 26, 2016 5:29 pm

Hi , Is there any particular format for the accounts to be submitted to the home office.

The software my solicitor is using is not letting her to add directors loan under the creditors list to mention the investment instead she wrote a line after that .

any comments ?

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by zimba » Fri Feb 26, 2016 6:12 pm

shaf2008 wrote:Hi , Is there any particular format for the accounts to be submitted to the home office.

The software my solicitor is using is not letting her to add directors loan under the creditors list to mention the investment instead she wrote a line after that .

any comments ?
Accounts have a page called Notes, the creditors section usually show up in that page. As long as your name and the loan can be linked on there.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

raj.m
Member
Posts: 232
Joined: Fri Feb 26, 2016 12:21 pm
Mood:
India

Re: Tier 1 Entrepreneur Extension in March 2016

Post by raj.m » Sat Feb 27, 2016 4:38 pm

Hi guys

I have a query about accountant's letter of investment. Where does it say in the guidance that this is required? I don't know if I'm going blind but I can't find it. If it is something not required and is additional, what kind of details are you guys putting into the letter?

Many thanks
Raj

shaf2008
Member
Posts: 102
Joined: Fri Dec 18, 2015 4:44 pm

Re: Tier 1 Entrepreneur Extension in March 2016

Post by shaf2008 » Sat Feb 27, 2016 6:39 pm

HI Just going through the application form and noticed the following any comments

From 1 September, adult family members must provide a criminal record certificate from any country they have lived in for 12 months or more in the last 10 years.

shaf2008
Member
Posts: 102
Joined: Fri Dec 18, 2015 4:44 pm

Re: Tier 1 Entrepreneur Extension in March 2016

Post by shaf2008 » Sat Feb 27, 2016 6:46 pm

Do we need a separate application form for dependent . or shall we just fill the details on my form .

Mrchaany
Senior Member
Posts: 533
Joined: Sun Jun 23, 2013 10:52 pm
Location: Reading
Contact:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by Mrchaany » Sat Feb 27, 2016 7:20 pm

Evidence to show how much has been invested
136. You must provide all the appropriate specified documents needed to establish the amount you have already invested from the following list.
v. Audited accounts
Registered companies that are required to produce audited accounts must do so. For information on who needs to produce these accounts please refer to the Companies House website.








vi. Unaudited accounts and an accountant’s certificate of confirmation
Businesses that are not required to produce audited accounts must provide unaudited accounts, sometimes called management accounts, together with an accounts compilation report from a suitably regulated accountant. The accounts compilation report is a service whereby practitioners compile accounts for the company directors who are responsible for
Tier 1(Entrepreneur) Policy Guidance version 11/2015 - Page 44
the preparation of the financial statements and for being satisfied they give a true and fair view. The accounts compilation report explains how practitioners have helped the directors prepare the accounts.
Audited or unaudited accounts must show the investment in money made directly by you, in your own name or on your behalf (and showing your name). If you have invested by way of share capital, the business accounts must show the shareholders, the amount and value of the shares (on the date of purchase) in your name as it appears on your application. If the value of your share capital is not shown in the accounts, then a copy of the company’s register of members must be provided. The accounts must clearly show the name of the accountant, the date the accounts were produced, and how much you have invested in the business. The account

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by zimba » Sat Feb 27, 2016 10:33 pm

shaf2008 wrote:HI Just going through the application form and noticed the following any comments

From 1 September, adult family members must provide a criminal record certificate from any country they have lived in for 12 months or more in the last 10 years.
That is for entry clearance from outside the uk. Not required for applications within the uk
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by zimba » Sat Feb 27, 2016 10:36 pm

shaf2008 wrote:Do we need a separate application form for dependent . or shall we just fill the details on my form .
Both. Fill the dependent application form and provide details on your form too.

https://www.gov.uk/government/publicati ... -dependant
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

User avatar
zimba
Moderator
Posts: 19946
Joined: Mon Aug 11, 2014 5:13 pm
Location: UK
Mood:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by zimba » Sat Feb 27, 2016 10:41 pm

raj.m wrote:Hi guys

I have a query about accountant's letter of investment. Where does it say in the guidance that this is required? I don't know if I'm going blind but I can't find it. If it is something not required and is additional, what kind of details are you guys putting into the letter?

Many thanks
Raj
According to Appendix A, you need accounts compilation report only. You can get one to verify investment from your accountant but immigration rules do not require.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

friend87
Newly Registered
Posts: 26
Joined: Tue Feb 16, 2016 4:15 pm

Re: Tier 1 Entrepreneur Extension in March 2016

Post by friend87 » Sun Feb 28, 2016 2:14 am

zimba88 wrote:
raj.m wrote:Hi guys

I have a query about accountant's letter of investment. Where does it say in the guidance that this is required? I don't know if I'm going blind but I can't find it. If it is something not required and is additional, what kind of details are you guys putting into the letter?

Many thanks
Raj
According to Appendix A, you need accounts compilation report only. You can get one to verify investment from your accountant but immigration rules do not require.
Does account compilation report need to be stamped by accountant as its a part of annual account so I believe there is no need?

business genius
Member
Posts: 163
Joined: Wed Mar 06, 2013 11:13 pm

Re: Tier 1 Entrepreneur Extension in March 2016

Post by business genius » Sun Feb 28, 2016 1:29 pm

Yes the accountant report be signed by the accountant.
I have a question regarding table 3b1 where column 3 ask for date of investment and column 4 for amount of investment.if some one has invested in 2014 the whole amount and now want to go for share capital of 50k instead of directors loan .I know from accounting point of view is not problem.what would be the issue with respect to visa extension?any suggestion/comments would be highly appreciated.

kunleoyewo
inactive
Posts: 32
Joined: Mon Jun 08, 2015 10:19 pm
Location: London

Re: Tier 1 Entrepreneur Extension in March 2016

Post by kunleoyewo » Mon Feb 29, 2016 3:18 pm

Humv wrote:Hi Guys,

Just to update I have now submitted my Tier 1 Extension Application.
I have only submitted required documentation. Nothing extra.

Lets hope it all goes well. Will keep you guys posted.
Good luck mate. Please keep us posted.

Cheers!

business genius
Member
Posts: 163
Joined: Wed Mar 06, 2013 11:13 pm

Re: Tier 1 Entrepreneur Extension in March 2016

Post by business genius » Mon Feb 29, 2016 3:24 pm

Good luck!!
Did you used Director's loan option?

raj.m
Member
Posts: 232
Joined: Fri Feb 26, 2016 12:21 pm
Mood:
India

Re: Tier 1 Entrepreneur Extension in March 2016

Post by raj.m » Mon Feb 29, 2016 10:30 pm

zimba88 wrote:
raj.m wrote:Hi guys

I have a query about accountant's letter of investment. Where does it say in the guidance that this is required? I don't know if I'm going blind but I can't find it. If it is something not required and is additional, what kind of details are you guys putting into the letter?

Many thanks
Raj
According to Appendix A, you need accounts compilation report only. You can get one to verify investment from your accountant but immigration rules do not require.

Thanks :)

raj.m
Member
Posts: 232
Joined: Fri Feb 26, 2016 12:21 pm
Mood:
India

Re: Tier 1 Entrepreneur Extension in March 2016

Post by raj.m » Mon Feb 29, 2016 10:31 pm

Humv wrote:Hi Guys,

Just to update I have now submitted my Tier 1 Extension Application.
I have only submitted required documentation. Nothing extra.

Lets hope it all goes well. Will keep you guys posted.
Good luck, buddy! Any chance you could share your template for the accountant's letter of job creation?

omercheema619
Newly Registered
Posts: 23
Joined: Sun Jan 31, 2016 7:57 pm

Re: Tier 1 Entrepreneur Extension in March 2016

Post by omercheema619 » Mon Mar 07, 2016 8:53 am

Hi Guys

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

Fingers crossed!

regards

Humv
Member
Posts: 111
Joined: Fri Nov 04, 2011 6:57 pm
Contact:

Re: Tier 1 Entrepreneur Extension in March 2016

Post by Humv » Mon Mar 07, 2016 9:18 am

business genius wrote:Good luck!!
Did you used Director's loan option?

Nope share capital.

business genius
Member
Posts: 163
Joined: Wed Mar 06, 2013 11:13 pm

Re: Tier 1 Entrepreneur Extension in March 2016

Post by business genius » Mon Mar 07, 2016 10:02 am

Good luck!

Locked
cron