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Inactive director / Error in accounts

Only for UK Tier 1 (Entrepreneur) points system

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

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amnaali03
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Posts: 120
Joined: Wed Feb 19, 2014 9:13 am

Inactive director / Error in accounts

Post by amnaali03 » Tue May 09, 2017 2:08 am

Hi respected members,
I have two question;

1-Me any my friend applied for tier 1 Ent (50K) in 2013, but was rejected. Later on my friend got her stay on family route. I applied alone with 50K funds and got tier 1 in September 2014. My friend was also director of company with me from the time of our first application and he resigned on 31 Dec 2016. He was inactive director. My question is; can this effect my extension application due in september 2017? As his name is present in annual account and confirmation statements.

2- I have plan to apply by way of share capital and according to policy guidelines number / value of shares should clearly be mentioned against my name in annual accounts. Unfortunately, just i received a copy of company accounts year ending November 2016, in which accountant not wrote my name with number / value of shares. The same he did with accounts ending November 2015.

So question is; is it possible to amend accounts submitted to company house a few days before? If its not a good idea, is it possible to over come this in accounts from Dec 2016-August 2017, which i will submitt with my extension application?

I shall be thankfull for your valuable suggestions.

Best regards

itk
- thin ice -
Posts: 204
Joined: Thu Mar 21, 2013 3:38 pm

Re: Inactive director / Error in accounts

Post by itk » Tue May 09, 2017 2:35 am

[quote="amnaali03"]Hi respected members,
I have two question;

1-Me any my friend applied for tier 1 Ent (50K) in 2013, but was rejected. Later on my friend got her stay on family route. I applied alone with 50K funds and got tier 1 in September 2014. My friend was also director of company with me from the time of our first application and he resigned on 31 Dec 2016. He was inactive director. My question is; can this effect my extension application due in september 2017? As his name is present in annual account and confirmation statements. [/quote]

I am not too sure of what answer to give you on this one, perhaps I'll suggest you wait for seniors to throw more lights to it.

2- I have plan to apply by way of share capital and according to policy guidelines number / value of shares should clearly be mentioned against my name in annual accounts. Unfortunately, just i received a copy of company accounts year ending November 2016, in which accountant not wrote my name with number / value of shares. The same he did with accounts ending November 2015.

So question is; is it possible to amend accounts submitted to company house a few days before? If its not a good idea, is it possible to over come this in accounts from Dec 2016-August 2017, which i will submitt with my extension application?

I shall be thankfull for your valuable suggestions.

Best regards[/quote]

I don't see anything wrong in amending your account before your extension. In my case my previous accountant messed up my second year account, my current accountant had to amend the account few weeks before I submitted my extension application and I got the extension without hassles.

amnaali03
Member
Posts: 120
Joined: Wed Feb 19, 2014 9:13 am

Re: Inactive director / Error in accounts

Post by amnaali03 » Tue May 09, 2017 8:12 am

Hi itk, thanks for you reply. Did your accountant sent amended accounts to company house / hmrc also? Or he just he just amended the accounts for you to send with extension application?

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Zimba
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Re: Inactive director / Error in accounts

Post by Zimba » Tue May 09, 2017 10:37 am

1-Me any my friend applied for tier 1 Ent (50K) in 2013, but was rejected. Later on my friend got her stay on family route. I applied alone with 50K funds and got tier 1 in September 2014. My friend was also director of company with me from the time of our first application and he resigned on 31 Dec 2016. He was inactive director. My question is; can this effect my extension application due in september 2017? As his name is present in annual account and confirmation statements.
No
2- I have plan to apply by way of share capital and according to policy guidelines number / value of shares should clearly be mentioned against my name in annual accounts. Unfortunately, just i received a copy of company accounts year ending November 2016, in which accountant not wrote my name with number / value of shares. The same he did with accounts ending November 2015.
That must appear as required
So question is; is it possible to amend accounts submitted to company house a few days before? If its not a good idea, is it possible to over come this in accounts from Dec 2016-August 2017, which i will submitt with my extension application?
You simply need to get the accountant to amend them and send those with the application. Update companies house later.
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

amnaali03
Member
Posts: 120
Joined: Wed Feb 19, 2014 9:13 am

Re: Inactive director / Error in accounts

Post by amnaali03 » Tue May 09, 2017 10:51 am

Hi Zimba, many thanks for your response. I have contacted with my accountant and he said that we submitted the accounts in format as company house require. But when you will apply for extension, we will provide you in Ukvi required format, so there is no need to ammend accounts now or latter in company house. According to him, it is a normal practice.

My question; is he right?

Regards

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Zimba
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Joined: Mon Aug 11, 2014 5:13 pm
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Re: Inactive director / Error in accounts

Post by Zimba » Tue May 09, 2017 3:09 pm

Yes, minor notes being added to your accounts should not need a resubmission of the accounts as the numbers are intact
Advice is given based on my personal research and experience only. Do NOT contact me via private message for immigration advice

amnaali03
Member
Posts: 120
Joined: Wed Feb 19, 2014 9:13 am

Re: Inactive director / Error in accounts

Post by amnaali03 » Wed May 10, 2017 5:28 pm

zimba88 wrote:Yes, minor notes being added to your accounts should not need a resubmission of the accounts as the numbers are intact
Many thanks Zimba for this.
Regards

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