Tier 1 ext 50K ( investment made by the company)

nahidsarwar wrote:Dear Seniors,

Hope all is well. My tier 1 extension coming in May 2017. I have a query. I have invested 50K from my personal account to my business account in the form of Directors loan . i have a loan agreement too. My wife and I are the director of the company. We provide business consultancy to different company. We also invested in residential property ( buy to let ) property from the company. We are doing our consultancy business but at the same time buying small properties using the company to develop a portfolio . Here are my questions:

1) is it a problem that my company is investing in property and getting rental income?

you cannot claim points against the investment if you made it in a residencial property.

2) One of the part time employee is dedicated for managing the properties whom I want to show as one of the required two employee?
3) As I mentioned before I am the director of my company, my solicitor is asking me to tell him what other position I held in the company as I need to show I am doing a graduate level job. I did not get it. Do i need to show two position in my company? When ever we provide consultancy support to another company we do the contract in our company name. and we sign as directors .

this means your job title in you company.

4) I am currently taking minimum salary per month around £850 per month and dividend but my solicitor is telling me I need to take a salary of around £30K per month? is it really neccessary or the current salary+ dividend system is fine?

their is no rule how much salary you shuold take . hope other senior memebrs will give you more detailed answers.

I would be grateful if you could answer my question .

Regards
Nahid

nahidsarwar wrote:Dear Seniors,

Here are my questions:

1) is it a problem that my company is investing in property and getting rental income?
2) One of the part time employee is dedicated for managing the properties whom I want to show as one of the required two employee?
3) As I mentioned before I am the director of my company, my solicitor is asking me to tell him what other position I held in the company as I need to show I am doing a graduate level job. I did not get it. Do i need to show two position in my company? When ever we provide consultancy support to another company we do the contract in our company name. and we sign as directors
4) I am currently taking minimum salary per month around £850 per month and dividend but my solicitor is telling me I need to take a salary of around £30K per month? is it really neccessary or the current salary+ dividend system is fine?

I would be grateful if you could answer my question .

Regards
Nahid

nahidsarwar wrote:I would be grateful if you could answer my question .

nahidsarwar wrote:Dear Seniors,

Hope all is well. My tier 1 extension coming in May 2017. I have a query. I have invested 50K from my personal account to my business account in the form of Directors loan . i have a loan agreement too. My wife and I are the director of the company. We provide business consultancy to different company. We also invested in residential property ( buy to let ) property from the company. We are doing our consultancy business but at the same time buying small properties using the company to develop a portfolio . Here are my questions:

1) is it a problem that my company is investing in property and getting rental income?
Property Managing business is not allowed/consider for investment point

2) One of the part time employee is dedicated for managing the properties whom I want to show as one of the required two employee?
No you cant for the nature of business as advised in 1

3) As I mentioned before I am the director of my company, my solicitor is asking me to tell him what other position I held in the company as I need to show I am doing a graduate level job. I did not get it. Do i need to show two position in my company? When ever we provide consultancy support to another company we do the contract in our company name. and we sign as directors
If you are 50K route your Business must match NFQ level 4 Jobs as per you UK degree

4) I am currently taking minimum salary per month around £850 per month and dividend but my solicitor is telling me I need to take a salary of around £30K per month? is it really neccessary or the current salary+ dividend system is fine?

There is no such requirement to draw salary upto 30K , your solicitor must be wrongly applying Tier 2 rules on your Tier 1 50K route

I would be grateful if you could answer my question .

Regards
Nahid

nahidsarwar wrote:Dear Seniors,

Thank you for all the advise and suggestion. I just want to elaborate the first point. I am not trying to score point on the basis of the investment in property. I have transferred the 50K from my personal account to the business account s directors loan. My company primarily provide monitoring and Evaluation service to the International development companies . We have regular income from that source.We are investing in residential properties to develop a portfolio for the company. What I want to clearify is ...after investing in the company( transferring to the business account) is it important to show where we I have spent the money?? part of the investment went to buy the properties but we have spent part of it acquiring other business and expenses.

Regards
Nahid