Tier 1 extention questions 50K

Hi Zimba, does my Current appointment report need to be new one or the one which I have got it when I registered my company? Also whst is the difference between Account Filling history Report and Annual accounts report?

Thanks

nish_patel7 wrote:Hi Zimba, does my Current appointment report need to be new one or the one which I have got it when I registered my company? Also whst is the difference between Account Filling history Report and Annual accounts report?

Thanks

You need to get a recent CAR.

Account filing history can be seen in the CAR and gives a record of all filings made to companies house.

Thank you so much

Could some one also please give me the list of documents link for the 50K extention. I cant find it unfortunately. Thanks

How do I confirm that my accountant is certified and accounts filled by him will be valid for my visa, is there minimum requirement according to home office about the valid accountant?

ALL YOUR QUESTIONS MERGED IN ONE TOPIC Continue here with your questions please

nish_patel7 wrote:How do I confirm that my accountant is certified and accounts filled by him will be valid for my visa, is there minimum requirement according to home office about the valid accountant?

You do not need to provide anything . Read the guide to see if your accountant is a acceptable by HO

nish_patel7 wrote:Could some one also please give me the list of documents link for the 50K extention. I cant find it unfortunately. Thanks

There are no separate list of documents for 50K. There is only one Guidance document for all of T1E initial application, extension and setttlement

Does my accountant firm name has to be on ACCA's website list as an approved accountant? I am really worried because my accountant name is not listed on this website, can someone tell me that how to confirm my accountant is valid because my accountant is saying he is appoved to file accounts of my company and Home office has accepted their accounts for other applicants. Really in dilemma that how to find out. Is there any website where home office has listed certified body? I will be thankful if someone can guide me through this please. Thanks

nish_patel7 wrote:Does my accountant firm name has to be on ACCA's website list as an approved accountant? I am really worried because my accountant name is not listed on this website, can someone tell me that how to confirm my accountant is valid because my accountant is saying he is appoved to file accounts of my company and Home office has accepted their accounts for other applicants. Really in dilemma that how to find out. Is there any website where home office has listed certified body? I will be thankful if someone can guide me through this please. Thanks

As Zimba pointed out, read the guide. The requirements are there. And then just ask your accountant if he meets those. You can ask him to show you the licences and membership certificates, if you are concerned. Any decent accountant will have that information anyway on his website or letterheads or even email signature.

Hi All,

Firstly my accountant has showed me his certificate that he is certified by CIMA, so that satisfies me that he is a valid accountant, now there are two mistakes I see made by accountant, No1 is that one of my employee started working in my company on april 2017 and my accountant has generated payslips from april but of fps or rti his start date working in my company is showing 01 of june 2017. My accountant is saying he can rectify this by changing the date to 01/April/2017. i just want to know is that correct that he can change the date?

No 2:- my 2012-13 submitted account documents have not been given to me by my old accountant, he gave me the draft copy instead of real accounts submitted. But I am not relying on 2012-13 accounts because that was not the period I was issued the visa because my application was pending, I am relying on 2014, 2015, 2016 management accountants, is it ok if I only submit last three years of accountants? Thanks

nish_patel7 wrote:Hi All,

Firstly my accountant has showed me his certificate that he is certified by CIMA, so that satisfies me that he is a valid accountant, now there are two mistakes I see made by accountant, No1 is that one of my employee started working in my company on april 2017 and my accountant has generated payslips from april but of fps or rti his start date working in my company is showing 01 of june 2017. My accountant is saying he can rectify this by changing the date to 01/April/2017. i just want to know is that correct that he can change the date?

Yes, he can change the date.

nish_patel7 wrote:No 2:- my 2012-13 submitted account documents have not been given to me by my old accountant, he gave me the draft copy instead of real accounts submitted. But I am not relying on 2012-13 accounts because that was not the period I was issued the visa because my application was pending, I am relying on 2014, 2015, 2016 management accountants, is it ok if I only submit last three years of accountants? Thanks

You only need the last year accounts, as long as it has the compilation report by the accountant.

marcnath wrote: You only need the last year accounts, as long as it has the compilation report by the accountant.

Is it possible if the last year accounts is a management account (let's say for 3 months) ?

jafersadeq wrote:

marcnath wrote: You only need the last year accounts, as long as it has the compilation report by the accountant.

Is it possible if the last year accounts is a management account (let's say for 3 months) ?

Yes, as long as it has the information HO has asked for.

But, if it is that short, I would recommend adding the previous years report too just to show enough business activity. It is optional, though.

Hi All Gurus,

Could you please clear some doubts for me as Hena just mentioned above, Do I need an accountant letter for Job creation if I have opened up a new business? I have not taken over or joined any existing businesses and I am the only director of the company from the beginning.

2nd:- What date should I put on Director's Loan agreement? Should it be the backdated 3years back one or current date? I am asking this because as per my understanding is that it should be dated by the first date when u transferred the money into ur business account for the first time. Please advise

nish_patel7 wrote:Hi All Gurus,

Could you please clear some doubts for me as Hena just mentioned above, Do I need an accountant letter for Job creation if I have opened up a new business? I have not taken over or joined any existing businesses and I am the only director of the company from the beginning.

You don't need an accountant letter for job creation.

nish_patel7 wrote:2nd:- What date should I put on Director's Loan agreement? Should it be the backdated 3years back one or current date? I am asking this because as per my understanding is that it should be dated by the first date when u transferred the money into ur business account for the first time. Please advise

Date before first payment has been made is fine.

Hi all,
My accountant has made a mistake by generating payslips of director salaries, but actually I have never taken salary from my company. Will this affect my extenion application? Actually my accountant and I had miscommunication when he set up the paye account of my company, still point to be noted here is that I have never withdrawn any salary from my company accountant.

Secondly I have created 4 jobs in my company, to claim job creation points I am relying on all of this 4 jobs and the breakdown of 24 months requirements is as followed:-

Employee 1:- working since September 2016 total 10 months
Employee 2:- working since October 2016 total 9 months
Employee 3:- worked between April 2017 to May 2017 total 2 months and resigned
Employee 4:- working since April 2017 total 3 months
So in total I have created 24 Months employment.
Points to note here is all employees worked full time more than 130 hrs or more and my initial application was made on December 2012, so I am relying on pre April 2014 rule. So I believe I have done everything according to policy Am I right here?

nish_patel7 wrote:Hi all,
My accountant has made a mistake by generating payslips of director salaries, but actually I have never taken salary from my company. Will this affect my extenion application? Actually my accountant and I had miscommunication when he set up the paye account of my company, still point to be noted here is that I have never withdrawn any salary from my company accountant.

I don't understand this - how can he generate payslips when there is no pay ?
Anyway, it should not matter for your T1E extension

nish_patel7 wrote:Secondly I have created 4 jobs in my company, to claim job creation points I am relying on all of this 4 jobs and the breakdown of 24 months requirements is as followed:-

Employee 1:- working since September 2016 total 10 months
Employee 2:- working since October 2016 total 9 months
Employee 3:- worked between April 2017 to May 2017 total 2 months and resigned
Employee 4:- working since April 2017 total 3 months
So in total I have created 24 Months employment.
Points to note here is all employees worked full time more than 130 hrs or more and my initial application was made on December 2012, so I am relying on pre April 2014 rule. So I believe I have done everything according to policy Am I right here?

Yes, you are right.

Thanks Marcnath and Zimba you guys are great

Hi Marcnath/Zimba

I have noticed that director salaries are showing in FPS report, what should I do about that? I mean I have not taken any salaries and it's showing in FPS reports that I have taken salaries, I was thinking not to send my payslips but now its there on my FPS reports. Do I have to send my payslips now?

No. You do not need to do that

nish_patel7 wrote:Hi Marcnath/Zimba

I have noticed that director salaries are showing in FPS report, what should I do about that? I mean I have not taken any salaries and it's showing in FPS reports that I have taken salaries, I was thinking not to send my payslips but now its there on my FPS reports. Do I have to send my payslips now?

No, you still don't have to send payslips.

But if you there are salaries shown as paid to you in the FPS, then that amount may impact your investment.

In general, Your cash investment + Sales - salaries taken > 50K

My cash investment + sales - salary of director is above £50k should it be fine?

One of my employee has changed his Name on his passport, What documents should I supply to confirm he is the same person but has changed his name? And all this time he did not let us know that he has changed his name on passport. Problem is everyone still calls him by his old name but only on official documents he wanted to change his name for some reason

nish_patel7 wrote:My cash investment + sales - salary of director is above £50k should it be fine?

Sorry that formula is strictly not true.

It should be:
Cash investment > 50K
Sales - salaries > 0

Both need to be satisfied.