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Director's Loan agreement and Fund transfer

Only for UK Tier 1 (Entrepreneur) points system

Moderators: Casa, push, JAJ, ca.funke, Amber, Zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, geriatrix, John, ChetanOjha, archigabe

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CR001
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Re: Director's Loan agreement and Fund transfer

Post by CR001 » Sun Sep 08, 2019 7:30 pm

There is no weekly hour working restriction for British citizens however you simply cannot be a full time student attending university and work full-time as well.

Remember ho has full access to the employee information too and will see they are a full time student in a number of ways.
Char (CR001 not Casa)
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tier1entrepreneur-A
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Joined: Mon Dec 25, 2017 2:08 pm

British citizen employee (during his university study)

Post by tier1entrepreneur-A » Sun Sep 08, 2019 7:35 pm

CR001 wrote:
Sun Sep 08, 2019 7:30 pm
There is no weekly hour working restriction for British citizens however you simply cannot be a full time student attending university and work full-time as well.

Remember ho has full access to the employee information too and will see they are a full time student in a number of ways.
Excellent.

Thanks CR001 for your clarification, it's much appreciated,

tier1entrepreneur-A
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Posts: 129
Joined: Mon Dec 25, 2017 2:08 pm

British citizen employee (during his university study)

Post by tier1entrepreneur-A » Sun Sep 08, 2019 7:44 pm

CR001 wrote:
Sun Sep 08, 2019 7:30 pm
There is no weekly hour working restriction for British citizens however you simply cannot be a full time student attending university and work full-time as well.

Remember ho has full access to the employee information too and will see they are a full time student in a number of ways.
Excellent.

Thanks CR001 for your clarification, it's much appreciated,

This will mean that I can use both employee (both British citizen, and both university student),to do part time work (i.e 20hrs and 15hrs per week), and do the same job, without conflict with their study.. and they both can make one full time job as per HO requirements.. is that correct?

They are 18 and 21 years old. I assume that the NMW will be the same £8.21 as they are not in apprentice program (as they are still in full time study).

Could you please correct me if I'm wrong.

Thanks in advance.

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marcnath
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Re: British citizen employee (during his university study)

Post by marcnath » Mon Sep 09, 2019 10:44 am

tier1entrepreneur-A wrote:
Sun Sep 08, 2019 7:44 pm
CR001 wrote:
Sun Sep 08, 2019 7:30 pm
There is no weekly hour working restriction for British citizens however you simply cannot be a full time student attending university and work full-time as well.

Remember ho has full access to the employee information too and will see they are a full time student in a number of ways.
Excellent.

Thanks CR001 for your clarification, it's much appreciated,

This will mean that I can use both employee (both British citizen, and both university student),to do part time work (i.e 20hrs and 15hrs per week), and do the same job, without conflict with their study.. and they both can make one full time job as per HO requirements.. is that correct?

They are 18 and 21 years old. I assume that the NMW will be the same £8.21 as they are not in apprentice program (as they are still in full time study).

Could you please correct me if I'm wrong.

Thanks in advance.
Yes, you can.
NMW varies by age - https://www.gov.uk/national-minimum-wage-rates
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

tier1entrepreneur-A
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Posts: 129
Joined: Mon Dec 25, 2017 2:08 pm

Re: British citizen employee (during his university study)

Post by tier1entrepreneur-A » Wed Sep 18, 2019 2:14 am

marcnath wrote:
Mon Sep 09, 2019 10:44 am
tier1entrepreneur-A wrote:
Sun Sep 08, 2019 7:44 pm
CR001 wrote:
Sun Sep 08, 2019 7:30 pm
There is no weekly hour working restriction for British citizens however you simply cannot be a full time student attending university and work full-time as well.

Remember ho has full access to the employee information too and will see they are a full time student in a number of ways.
Excellent.

Thanks CR001 for your clarification, it's much appreciated,

This will mean that I can use both employee (both British citizen, and both university student),to do part time work (i.e 20hrs and 15hrs per week), and do the same job, without conflict with their study.. and they both can make one full time job as per HO requirements.. is that correct?

They are 18 and 21 years old. I assume that the NMW will be the same £8.21 as they are not in apprentice program (as they are still in full time study).

Could you please correct me if I'm wrong.

Thanks in advance.
Yes, you can.
NMW varies by age - https://www.gov.uk/national-minimum-wage-rates
Thanks marcnath for your clarification, it's much appreciated.

Both of them have joined my company this month, and both hourly rate over the NMW.

tier1entrepreneur-A
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Posts: 129
Joined: Mon Dec 25, 2017 2:08 pm

Director's Loan agreement (only one instead of three)

Post by tier1entrepreneur-A » Wed Sep 18, 2019 2:34 am

Hi Team,

I have completed the required investment (Director's Loan) in my own limited company in three transactions from my UK personal bank account to the company business bank account.

My question is:
Can I have only one Director's Loan agreement which listing the full loan amount as well as the three transactions details, and the agreement to be dated with the last transaction date?

i.e. to state on the agreement (only one) as suggested below:

______start

Total Director's Loan covered in this agreement as on the 17th Sept 2019 = £200,000, in a three transactions between 11th Feb 2019 and 17th Sept 2019 as detailed below:

11th Feb 2019 - £50,000 - Total Director's Loan to date = £50,000
13th Feb 2019 - £50,000 - Total Director's Loan to date = £100,000
17th Sept 2019 - £100,000 - Total Director's Loan to date = £200,000

______end

Is the above is acceptable and fulfill the requirement?, or I still need three individual Director's Loan agreements?

I will attach with the agreement the bank confirmation for the transaction from both personal and business account for the three transactions showing Director's Loan on both.

Appreciate your advice @marcnath and other members :-)

Thanks in advance.

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marcnath
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Re: Director's Loan agreement and Fund transfer

Post by marcnath » Wed Sep 18, 2019 11:27 am

One agreement is fine
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

tier1entrepreneur-A
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Posts: 129
Joined: Mon Dec 25, 2017 2:08 pm

Director's Loan agreement (only one instead of three)

Post by tier1entrepreneur-A » Wed Sep 18, 2019 6:20 pm

marcnath wrote:
Wed Sep 18, 2019 11:27 am
One agreement is fine

Excellent, thanks marcnath for your valuable advice, much appreciated.

tier1entrepreneur-A
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Posts: 129
Joined: Mon Dec 25, 2017 2:08 pm

British citizen employee - Part time 10-15hrs per week (during his high school study)

Post by tier1entrepreneur-A » Thu Oct 10, 2019 9:42 am

Hi Team,

I just would like to ask if HO accept British citizen employee - Part time 10-15 hrs per week (high school student), as a PT employee for job creation.

Facts:
British citizen.
High school student.
Working part time - all the year (mainly work during the weekend)

Looking forward to hearing from you our valuable advice.

Thanks in advance.

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marcnath
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Posts: 5511
Joined: Tue Jul 03, 2012 2:27 pm
Location: Milton Keynes

Re: British citizen employee - Part time 10-15hrs per week (during his high school study)

Post by marcnath » Thu Oct 10, 2019 11:24 am

tier1entrepreneur-A wrote:
Thu Oct 10, 2019 9:42 am
Hi Team,

I just would like to ask if HO accept British citizen employee - Part time 10-15 hrs per week (high school student), as a PT employee for job creation.

Facts:
British citizen.
High school student.
Working part time - all the year (mainly work during the weekend)

Looking forward to hearing from you our valuable advice.

Thanks in advance.
Can't see any reason why not
My comments are in no way meant to be advisory. I have no professional knowledge of immigration. These are based on my own experience, convictions and personal interpretation of publicly available information.

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