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Extension of Tier 1 Entrepreneur

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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tancs
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Extension of Tier 1 Entrepreneur

Post by tancs » Thu Aug 12, 2021 12:19 pm

I am due to apply for the extension in Oct 21. I have a few questions

a) Is the "accounts compilation report" a standard one that any account could do based on general practice or is it something that would need to comply with specific terms of reference issued by the Home Office

b) In addition to investing £200,000, does the amount need to be spent at the point of the renewal. Is it a requirements.

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marcnath
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Re: Extension of Tier 1 Entrepreneur

Post by marcnath » Thu Aug 12, 2021 12:20 pm

tancs wrote:
Thu Aug 12, 2021 12:19 pm
I am due to apply for the extension in Oct 21. I have a few questions

a) Is the "accounts compilation report" a standard one that any account could do based on general practice or is it something that would need to comply with specific terms of reference issued by the Home Office

b) In addition to investing £200,000, does the amount need to be spent at the point of the renewal. Is it a requirements.
a) It is a standard one
b) No
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.

tancs
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Posts: 7
Joined: Thu Aug 12, 2021 11:54 am

Re: Extension of Tier 1 Entrepreneur

Post by tancs » Fri Aug 27, 2021 2:02 pm

Thanks marcnath!

Few more questions.
1) For the accounts, is accounts compilations report required for all the account or just the final year.
2) Do we also need to submit management account between the last set of compilations report to the date of my application of extension (about 11 months)
3) Does the accountant need to attest iin some form that I have satisfy the criteria of employing the two persons. Or is this something that the Home Office will do themselves?

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marcnath
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Re: Extension of Tier 1 Entrepreneur

Post by marcnath » Sat Aug 28, 2021 9:28 am

tancs wrote:
Fri Aug 27, 2021 2:02 pm
Thanks marcnath!

Few more questions.
1) For the accounts, is accounts compilations report required for all the account or just the final year.
2) Do we also need to submit management account between the last set of compilations report to the date of my application of extension (about 11 months)
3) Does the accountant need to attest iin some form that I have satisfy the criteria of employing the two persons. Or is this something that the Home Office will do themselves?
1) The requirement is only for1 set of accounts to be submitted and that needs to have the report. What you do or don't do with the rest of the accounts is immaterial. It is not necessarily the final year, it can be any year that shows the full investment.
2) No (refer above)
3) No for new businesses. Yes, if you have joined an existing business.
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.

tancs
Newly Registered
Posts: 7
Joined: Thu Aug 12, 2021 11:54 am

Re: Extension of Tier 1 Entrepreneur

Post by tancs » Mon Oct 11, 2021 10:41 am

Thanks marcnath!

My wife is with me on a dependent pass. She will also need to apply for her extension.

How do we make our application together? I mean do we submit it separately or together?

If we apply separately, do we need to reference her application to mine so the Home Office can link them together?

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marcnath
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Re: Extension of Tier 1 Entrepreneur

Post by marcnath » Sat Oct 16, 2021 2:20 am

tancs wrote:
Mon Oct 11, 2021 10:41 am
Thanks marcnath!

My wife is with me on a dependent pass. She will also need to apply for her extension.

How do we make our application together? I mean do we submit it separately or together?

If we apply separately, do we need to reference her application to mine so the Home Office can link them together?
I am not familiar with the online process but you can always just start off the process and it will guide you through
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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