Tier 1 Entrepreneur - Further Evidence required.

Hi Everyone,
I really appreciate all helpful and kind suggestions on this forum. This board is a blessing.
I am looking for advice based on an email I have been sent by the HO. Below is a summary of my situation:
1. I was a Graduate Entrepreneur from 2015-2016 and 2016-2017
2. I applied for Tier 1 Entrepreneur in Oct. 2017
3. Payment for T1E application was taken in Feb. 2018
4. Got email Dec 2018 (yesterday) requesting further information?
5. Information requested via email is :
a) Provide documents to show that sums held in your personal account from date of application have now been invested in your business if you do not have it till present date.
b) You cannot claim points for funds held in your business account, only a personal account. As a result you will need to provide documents showing that the funds held in your business account have been invested in your business.
c) Additional documents to show that the balance of the sums has been invested in the business as claimed.
6. Evidence requested according to email is 1) unaudited accounts with investments made in my name or on my behalf by 3rd party and 2) Business Bank Statement which show transfer of all funds invested via Director’s loan.
Based on the above, my questions are:
• Do I need to provide documents like receipts and invoices? This is particularly because my wife and I made purchases on behalf of the business through private accounts.
• Because it is my first application for T1E can I still rely on expenses from 24 months prior the application in Oct 2017 as this was allowed from a Graduate Entrepreneur route?
• The funds I transferred were marked ‘Director’s capital’ instead of Director’s loan, will this be an issue?
• If I am unable to provide satisfactory evidence and my application is refused based on incorrect labelling of evidence of investment, what will be my options?
I am also requested to respond within 10 working days, however seeing as some bank holidays are coming up, are these days included in the 10 working days please?
I am most grateful for your advice. Thank you all.

Obajed wrote: ↑

Tue Dec 18, 2018 1:31 pm

Based on the above, my questions are:
• Do I need to provide documents like receipts and invoices? This is particularly because my wife and I made purchases on behalf of the business through private accounts.

No, you don't.

Obajed wrote: ↑

Tue Dec 18, 2018 1:31 pm

• Because it is my first application for T1E can I still rely on expenses from 24 months prior the application in Oct 2017 as this was allowed from a Graduate Entrepreneur route?

Yes, you can

Obajed wrote: ↑

Tue Dec 18, 2018 1:31 pm

• The funds I transferred were marked ‘Director’s capital’ instead of Director’s loan, will this be an issue?

Marked where ?

Obajed wrote: ↑

Tue Dec 18, 2018 1:31 pm

• If I am unable to provide satisfactory evidence and my application is refused based on incorrect labelling of evidence of investment, what will be my options?

You should be able to reapply with correct documents but it is a little grey with a switch from T1GE. You have been given an opportunity to send additional documents - use that to do any and all corrections now.

Obajed wrote: ↑

Tue Dec 18, 2018 1:31 pm

I am also requested to respond within 10 working days, however seeing as some bank holidays are coming up, are these days included in the 10 working days please?

I am sure you can use that. But these seem to straightforward requests, so why would you take the risk ? You should be able to send it within two weeks.

There is not enough information to give a more considered opinon

Thanks a lot for your reply marcnath!
I meant to say all director transactions was recorded as Directors capital instead as Director's loan on my bank statements. Hopefully we should get this sorted soon.

Thanks again.