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Employee hours and investment

Only for UK Tier 1 (Entrepreneur) points system

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tarun_shreeji
Member
Posts: 132
Joined: Mon Nov 25, 2013 7:41 pm
Location: Uk
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Employee hours and investment

Post by tarun_shreeji » Mon Dec 26, 2016 1:57 pm

Hello,

My tier 1 entreprenure extantion due in Feb - 2017.

I have some queries in Employee hours and investment. please give me some advise on it.

Employee hours:

I have only 1 employee from last 26 months and she work 32 hours a week.
I pay her monthly, some months 128 hours, some months 136 hours and some month 144 hours.
total hours in 26 months is 3622 hours.

so is that ok? some months pay is 128 hours,

documents for employment is.
* employee Passport first page (photo page)
* employee driving licence
* 26 months Payslips
* 26 moths FPS
* working hours calculation sheet
* HMRC real time yearly summery sheet.

Investment :

we invested as director's loan, we transferred 51000 from joint account (team members) to business account, we make directors loan agreement ( dated 1 week before transfer ) .

In unaudited accounts £51000 shows as other creditors and in notes mention ' Mrs. xyz and Mrs. Abc have invested £51,000 into ABC limited as an unsecured director's loan. please refer to note 5 of the financial statements for more information.

so please advise , its ok?

Investment documents:

* last 2 years Unaudited accounts
* Joint account statement - £51000 shows
* business account statement - £51000 shows
* Director's loan agreement
* corporation tax letter
* current appointment report.

Please advice any document short or anything needs to change.


thanks

Patel
Nqf level 4 business

tier1in2014
Member of Standing
Posts: 284
Joined: Sun Jul 13, 2008 4:36 am
Mood:
India

Re: Employee hours and investment

Post by tier1in2014 » Mon Dec 26, 2016 6:22 pm

Hi all looks Ok from above list . Are you submitting business insurance and any other proof of investments like invoices,bills etc . I am not sure if we do required any Investment proofs other than accounts and bank statements but you will need business insurance I believe .Please double check it again with seniors . I am also preparing my application to apply in feb 50k route .
I am not perfect But I guess no one is ever perfect . We all make mistakes and learn from them. Never give up keep trying until you succeed.

muhammadaliabad
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Posts: 114
Joined: Fri Aug 30, 2013 6:18 pm

Re: Employee hours and investment

Post by muhammadaliabad » Mon Dec 26, 2016 10:03 pm

Hi,

Looks good to me. I am also applying in feb 2017. keep in touch guys.

I am submitting last year insurance certificate just as an additional document to satisfy genuine entrepreneur test.

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