dnf wrote: ↑Wed Sep 06, 2017 9:57 pm
In my opinion, these interviews are aimed to consider the reliability of the documents provided plus genuine entrepreneur test.
If I was you, I would first have all the documents handy, that were provided with the application. The questions will relate to your business with respect to genuine entrepreneur test plus the extension requirements for e.g. director loan and employments.
The questions may revolve around:
1. How do you conduct your business from advertisement, signing new contracts to advertising for employments for hiring employees. Employment contracts are not required to be provided with extension application but is a usual practice of any business so keep them handy. They may also want to see some contracts between your company and the clients. Make sure that you have the employee identifications plus all the payslips and RTI ready.
2. They may want to know the source of funding used for the extension and your previous experience related to the business you are current involved in.
3. They may ask the systems in place i.e. how often you get paid from the clients and how?
4. They may ask the job description of each employee
5. They can ask tricky questions as to how much tax you have paid since you have been in the business, which may include corporation tax and employment taxes. You should jot down notes and be able to answer these questions. You can also take your time reviewing these documents before answering as me being an accountant cannot remember the amount of taxes paid in the last 3 years. You may want to ask this question from your accountant to be prepared
In summary, as a genuine entrepreneur, you should have answers to all the questions they may ask. One cannot remember the answer to every question raised so be prepared to look into your records before answering.
I wish you good luck with your interview and remember, if you are a genuine entrepreneur than you have nothing to fear. Confidence is the key here and there is no reason to panic.
Take a deep breath, enjoy the interview and ask the interviewer if you can bill him for the time that you spent at the rate you bill your clients. You may want to offer him some discount The highlighted lines are not to be taken seriously...
