Entrepreneur Visa Extension

dnf wrote:I thought it may be useful to share our experience so that you could ensure that you request all the relevant documentation from your accountants:

1. When you take on an employee, please ensure that they fill form P46 - This is not required by HMRC if the employee has a P45 but will assist your case as it clearly indicates the employee start date. Please make sure that you sign every page of P46. You can attach the passport copies and proof of addresses of the employees with the P46. Proof of addresses may not be required by UKVI but you usually request it from the employee as a business practice.

2. Your accountant can provide you with P11 that will also show the employee start date and also the relevant deductions. Please make sure that you sign every page.

3. Please make sure that you provide the 12 months payslips covering all the employees who you are using to claim points. The payslips should show the hours and per hour rate and make sure that you have signed all the payslips.

4. Request a letter from your accountant clearly explaining the job creation by mentioning the employees names and their national insurance numbers with their starting or leaving date. The hours mentioned on the payslips could be 130 hours which is 30 hours per week so the accountant must clarify on the letter.

5. Your accounts must show your full name under director report, signed by you, balance sheet, signed by you and under creditors on notes, where director loan is mentioned or under shareholding if you have invested as shares. Please sign every page of the accounts for the safer side.

6. Your accountant can provide you FPS reports which will confirm that the employees were reported under RTI. Please ensure that you include the full 12 months reports and sign every page.

7. Please make sure that you have employer liability insurance and any other insurances required by your profession/business i.e. professional indemnity or public liability.

8. Your latest filed accounts may be a few months old before your application date so ask your accountant to prepare management accounts covering till 1 month before your application date.

9. Make sure that your investment/director loan is clearly identifiable being transferred from your personal account to business account.

10. Include a cover letter that will explain how you have gained the points required by the visa and how you are a genuine entrepreneur by including your corporation tax returns, your VAT returns if you are VAT registered etc.

11. Sign every document you are providing with your application.

12. The contracts with your clients is not required but help you with genuine entrepreneur test.

13. Director loan agreement clearly stating that the loan is unsecured and sub-ordinates in favor of third parties.

14. An accountant letter outlining that you are the director and shareholder of the company, the company registered address and contact details, that you have invested in the company in the form of director loan/shares, that the account compilation report is provided and explanation if the management accounts are provided and the months it cover. Your accountant must mention on every letter that they are happy to confirm the content of the letter to UKVI upon their request.

15. Current appointment report from companies house that shows the recently filed documents plus the latest confirmation statement.

Please note that a number of points above may not be required by Home Office but by providing the above, we have noticed a turnaround time of 2 weeks or 3 days after the bio-metrics were given. The turnaround time is obviously different depending upon your application and how busy the home office is and our experience is based upon 2 successful applications. I will be happy to reply to any queries that you may have which relates to accountancy or tax, which we are qualified to advice on. However, I am not a solicitor and may reply to your query based on our experience but should not be constituted as advice.

I have written this post to assist the fellow members and understand how important it is to get the questions answered.

sm12 wrote:Thank you for sharing this list.
Do you recommend sending the accounts at the time of ILR, in order to show that the amount is still invested? Or will that unnecessarily complicate the application?

dnf wrote: When applying ILR, you need to demonstrate that you have been abiding by the restrictions imposed by your Entrepreneur visa.

marcnath wrote:

dnf wrote: When applying ILR, you need to demonstrate that you have been abiding by the restrictions imposed by your Entrepreneur visa.

Hi @dnf - appreciate your effort here and in your business where it looks like you have been supporting a number of entrepreneurs.

Having gone through this process personally and engaged within this forum, I would set out my disagreement on some of your approach.

I am convinced that a CW typically wants to reduce his/her work rather than increase it. So, I agree with you on setting out documents clearly.


Where I disagree is on the amount of paperwork you are suggesting. Being an entrepreneur myself, this is burdensome - I prefer to concentrate on my business than on creating paperwork.

Also, the reply above is incorrect. There is no "need to demonstrate that you have been abiding by the restriction...". It is up to UKVI to convince themselves and ask the applicant for information, if they need to. If your argument were to be accepted, one would also have to demonstrate that they did not work for a business other than their own - which is almost impossible to do.

Second, I think it is also burdensome to the CW.

Lastly, it is not a simple matter of giving the list above to an accountant and asking them to produce it. The responsibility on ensuring the correctness of the submission is still with the applicant. And the more paperwork that is submitted, the higher the chances that an error slips in.

Not looking at getting into an argument here, so you do not need to reply to this.

Just want to leave a counter argument here to let the individual applicants choose for themselves.

inaam.cs wrote:Hi marcnath,
I have already applied, looking at the list I think I have not provided P11 and Cover letter.
I have one employee working for me for last three years so I claimed points for one employee as I got my T1 in Feb 2014.
Could you advise I should send this as my case is still in process? For employee, I provided P46, FPS of 32 months, each shows my employee salary and info. 32 payslips of employee, printout of Gateway system showing that I paid RTI each month.
Thanks

marcnath wrote:

inaam.cs wrote:Hi marcnath,
I have already applied, looking at the list I think I have not provided P11 and Cover letter.
I have one employee working for me for last three years so I claimed points for one employee as I got my T1 in Feb 2014.
Could you advise I should send this as my case is still in process? For employee, I provided P46, FPS of 32 months, each shows my employee salary and info. 32 payslips of employee, printout of Gateway system showing that I paid RTI each month.
Thanks

Neither the P11 nor the Cover letter is needed, so you don't need to send anything in.
The P46 and the Gateway system printout were not needed either - but no harm done.
I hope at least one of the FPS documents you sent in had the start date of the employee - and if so, you should be ok.

marcnath wrote:

dnf wrote: When applying ILR, you need to demonstrate that you have been abiding by the restrictions imposed by your Entrepreneur visa.

Hi @dnf - appreciate your effort here and in your business where it looks like you have been supporting a number of entrepreneurs.

Having gone through this process personally and engaged within this forum, I would set out my disagreement on some of your approach.

I am convinced that a CW typically wants to reduce his/her work rather than increase it. So, I agree with you on setting out documents clearly.


Where I disagree is on the amount of paperwork you are suggesting. Being an entrepreneur myself, this is burdensome - I prefer to concentrate on my business than on creating paperwork.

Also, the reply above is incorrect. There is no "need to demonstrate that you have been abiding by the restriction...". It is up to UKVI to convince themselves and ask the applicant for information, if they need to. If your argument were to be accepted, one would also have to demonstrate that they did not work for a business other than their own - which is almost impossible to do.

Second, I think it is also burdensome to the CW.

Lastly, it is not a simple matter of giving the list above to an accountant and asking them to produce it. The responsibility on ensuring the correctness of the submission is still with the applicant. And the more paperwork that is submitted, the higher the chances that an error slips in.

Not looking at getting into an argument here, so you do not need to reply to this.

Just want to leave a counter argument here to let the individual applicants choose for themselves.

sm12 wrote:The SET O forms just asks for confirmation on whether the accounts were provided previously and if so, then they do not need to be provided again, hence my confusion.

hina_pirzada wrote:Hi Dnf, You have mentioned that sign the FPS and every documents. Can you please refer me where is in Policy guidance mention this point or just you are taking extra pre caution or there is any refusal came up where the applicant didn't sign the wage slips and FPS. Kindly send me the link. I have submitted my visa recently I only sign my Accounts and CT600 so I am worrying that this was the requirement.

Thanks

dnf wrote:I thought it may be useful to share our experience so that you could ensure that you request all the relevant documentation from your accountants:

1. When you take on an employee, please ensure that they fill form P46 - This is not required by HMRC if the employee has a P45 but will assist your case as it clearly indicates the employee start date. Please make sure that you sign every page of P46. You can attach the passport copies and proof of addresses of the employees with the P46. Proof of addresses may not be required by UKVI but you usually request it from the employee as a business practice.

Passport copy (or other settled worker Id) only required but good business practice

2. Your accountant can provide you with P11 that will also show the employee start date and also the relevant deductions. Please make sure that you sign every page.

Only required if you have joined a business.


3. Please make sure that you provide the 12 months payslips covering all the employees who you are using to claim points. The payslips should show the hours and per hour rate and make sure that you have signed all the payslips.

Payslips are mandatory. But there is no requirement to show hours, per hour rate. There is also no need to sign the payslips.

4. Request a letter from your accountant clearly explaining the job creation by mentioning the employees names and their national insurance numbers with their starting or leaving date. The hours mentioned on the payslips could be 130 hours which is 30 hours per week so the accountant must clarify on the letter.

This is not required. There is an accountant letter required for job creation if you have joined a business. But the content of that letter is totally different from this.


5. Your accounts must show your full name under director report, signed by you, balance sheet, signed by you and under creditors on notes, where director loan is mentioned or under shareholding if you have invested as shares. Please sign every page of the accounts for the safer side.

Signing on every page, as already mentioned above, is optional

6. Your accountant can provide you FPS reports which will confirm that the employees were reported under RTI. Please ensure that you include the full 12 months reports and sign every page.

Signature is optional. Ensure that the FPS shows the starting/ending date of the employee (as applicable) - there have been rejections because that is missed.

7. Please make sure that you have employer liability insurance and any other insurances required by your profession/business i.e. professional indemnity or public liability.

Good business practice and highly recommended but not part of immigration requirement

8. Your latest filed accounts may be a few months old before your application date so ask your accountant to prepare management accounts covering till 1 month before your application date.

Not required. As long as the accounts you have cover the investment you have made,
it meets the immigration requirement

9. Make sure that your investment/director loan is clearly identifiable being transferred from your personal account to business account.

Ok

10. Include a cover letter that will explain how you have gained the points required by the visa and how you are a genuine entrepreneur by including your corporation tax returns, your VAT returns if you are VAT registered etc.

Always a good idea, though not required. Keep it short and focus on things that need additional explanation.

11. Sign every document you are providing with your application.

Not required

12. The contracts with your clients is not required but help you with genuine entrepreneur test.

Ok

13. Director loan agreement clearly stating that the loan is unsecured and sub-ordinates in favor of third parties.

Ok

14. An accountant letter outlining that you are the director and shareholder of the company, the company registered address and contact details, that you have invested in the company in the form of director loan/shares, that the account compilation report is provided and explanation if the management accounts are provided and the months it cover. Your accountant must mention on every letter that they are happy to confirm the content of the letter to UKVI upon their request.

Not required. The only thing in the above is the compilation report which should be there for the accounts you submit.

15. Current appointment report from companies house that shows the recently filed documents plus the latest confirmation statement.

Ok

Please note that a number of points above may not be required by Home Office but by providing the above, we have noticed a turnaround time of 2 weeks or 3 days after the bio-metrics were given. The turnaround time is obviously different depending upon your application and how busy the home office is and our experience is based upon 2 successful applications. I will be happy to reply to any queries that you may have which relates to accountancy or tax, which we are qualified to advice on. However, I am not a solicitor and may reply to your query based on our experience but should not be constituted as advice.

I have written this post to assist the fellow members and understand how important it is to get the questions answered.

hina_pirzada wrote:Hi Dnf, You have mentioned that sign the FPS and every documents. Can you please refer me where is in Policy guidance mention this point or just you are taking extra pre caution or there is any refusal came up where the applicant didn't sign the wage slips and FPS. Kindly send me the link. I have submitted my visa recently I only sign my Accounts and CT600 so I am worrying that this was the requirement.

Thanks

dnf wrote: Please check this link, where a fellow members visa was refused as FPS reports were not initialed. uk-tier-1-entrepreneur-visas/please-hel ... 94327.html

dnf wrote:Marcnath - you just mentioned that 'there is no requirement to show hours, per hour rate'. Please refer to point 192 of the guidance, which is on page 55 - https://www.gov.uk/government/uploads/s ... 4_2017.pdf

zshaan21 wrote:Dear Guys,

The above thread discussions are quite useful, however in my own opinion we just need to follow the policy guidance and work accordingly. I have again the same query related to hourly rate, as one of my employee is on annul package of 30K and weekly 37.5 hrs.I asked my accountant and he said he can't put the hourly rate on payslip.

What should I do now?

Kind Regards,
Syed