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Director's Loan agreement and Fund transfer

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

Moderators: Casa, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha, archigabe

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tier1entrepreneur-A
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Re: EU Employee - Breixt

Post by tier1entrepreneur-A » Sat Sep 07, 2019 9:17 am

bizman wrote:
Mon Sep 02, 2019 2:58 pm
tier1entrepreneur-A wrote:
Sun Sep 01, 2019 10:44 pm
tier1entrepreneur-A wrote:
Fri Aug 30, 2019 7:23 am
Hi Team,

I have two part time employee, employee A started joined the company in May 2018, and employee B joined in Mar 2019 (both of them doing the same job, and holding EU passport)

My understanding is that both of them should be employed on the same period to allow me to be able to combine the two PT employee to make one full time job, which in my case as described above will not happen until end of Feb 2020 (which will be the time employee B will complete his 12 month working period), is this correct?

My second question, in case of brexit with no deal in Oct 2019, does both employee as EU passport holders will remain to be classified as settled worker until i complete the required 12 month of employment (in my case it will be end of Feb 2020)?

Thanks in advance.
Any help with the case above.

Thanks in advance.
If it is in the same role, think you can combine the two of them, however it depends on the number of hours each employee is engaged.

Also at the moment they need to apply for the Eu citizens settlement scheme and get themselves sorted before the October 31 st deadline, nobody knows for sure what will happen after UK leaves EU.
Thanks bizman for your comment, it's much appreciated.

They are both in the same role, and working 104 hrs and 69 hrs per week.

tier1entrepreneur-A
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British citizen employee (during his university study)

Post by tier1entrepreneur-A » Sat Sep 07, 2019 9:23 am

Hi Team,

A British citizen university student (18 years old) will be working with me in parallel to his university engineering study, as he can do the work from home/online.

Any restriction (to HO) for the hours he can work per week?

Is it acceptable for HO to use him to do 30 hrs per week and to be classified as full time employee?

Thanks in advance.

Best Regards.

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bizman
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Re: Director's Loan agreement and Fund transfer

Post by bizman » Sat Sep 07, 2019 8:20 pm

Students can not do more than 20hrs per week by law. So they can not be employed for full time role.
Bizman

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CR001
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Re: Director's Loan agreement and Fund transfer

Post by CR001 » Sun Sep 08, 2019 8:14 am

bizman wrote:
Sat Sep 07, 2019 8:20 pm
Students can not do more than 20hrs per week by law. So they can not be employed for full time role.
Which law is this and where does it say it applies to British citizens?
Char (CR001 not Casa)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.

tier1entrepreneur-A
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British citizen employee (during his university study)

Post by tier1entrepreneur-A » Sun Sep 08, 2019 7:03 pm

CR001 wrote:
Sun Sep 08, 2019 8:14 am
bizman wrote:
Sat Sep 07, 2019 8:20 pm
Students can not do more than 20hrs per week by law. So they can not be employed for full time role.
Which law is this and where does it say it applies to British citizens?
Thanks CR001, could you please share what you know about this point.

Thanks in advance.

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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)
In life you cannot press the Backspace button!!
Please DO NOT send me a PM for immigration advice. I reserve the right to ignore the PM and not respond.

tier1entrepreneur-A
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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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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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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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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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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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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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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.

tier1entrepreneur-A
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Director salary

Post by tier1entrepreneur-A » Sat Jan 11, 2020 12:50 pm

Hi Team,

I just would like your advice wrt the following:

I get paid monthly approx. £720 as a director salary from my limited company,

The company turnover (sales/revenue) every year is over £80k,

Sometimes we have zero sales in a month (rare happen, but still happening), but I still receive my monthly salary in these months which is £720,

Does the above can be an issue?, or HO just looking for the hole year revenue/sales and not per individual month (i.e per year, revenue=£80K, director salary=£8k)

Thanks in advance.

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marcnath
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Re: Director salary

Post by marcnath » Sat Jan 11, 2020 10:11 pm

tier1entrepreneur-A wrote:
Sat Jan 11, 2020 12:50 pm
Hi Team,

I just would like your advice wrt the following:

I get paid monthly approx. £720 as a director salary from my limited company,

The company turnover (sales/revenue) every year is over £80k,

Sometimes we have zero sales in a month (rare happen, but still happening), but I still receive my monthly salary in these months which is £720,

Does the above can be an issue?, or HO just looking for the hole year revenue/sales and not per individual month (i.e per year, revenue=£80K, director salary=£8k)

Thanks in advance.
HO is likely to timing into account. Not on a month on month basis but on a cumulative basis.

So, if your month 1 sales was £2000 and the next sales was in month 4, you are ok for month 1 and month 2 but then in month 3, HO may consider that you have withdrawn from your investment.
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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Re: Director salary

Post by tier1entrepreneur-A » Wed Jan 15, 2020 5:47 pm

[/quote]

HO is likely to timing into account. Not on a month on month basis but on a cumulative basis.

So, if your month 1 sales was £2000 and the next sales was in month 4, you are ok for month 1 and month 2 but then in month 3, HO may consider that you have withdrawn from your investment.
[/quote]

Excellent, thanks for your clarification.

tier1entrepreneur-A
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Job creation

Post by tier1entrepreneur-A » Wed Jan 15, 2020 6:02 pm

Hi Team,

I just would like your advice wrt a job creation (1 job)

Employee 1 - PT - joined from Jan to Dec (12 months in total)
Employee 2 - PT - joined for 1 month only - only Jan (1 month in total)
Employee 3 - PT - Joined from Feb to Dec (11 months in total)

Combined working hours per week (Employee 1) and (Employee 2 then 3) = 30hrs or more per week.

Does the above is OK to fill the requirement for 1 job creation?

Thanks in advance.

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marcnath
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Re: Job creation

Post by marcnath » Wed Jan 15, 2020 8:53 pm

tier1entrepreneur-A wrote:
Wed Jan 15, 2020 6:02 pm
Hi Team,

I just would like your advice wrt a job creation (1 job)

Employee 1 - PT - joined from Jan to Dec (12 months in total)
Employee 2 - PT - joined for 1 month only - only Jan (1 month in total)
Employee 3 - PT - Joined from Feb to Dec (11 months in total)

Combined working hours per week (Employee 1) and (Employee 2 then 3) = 30hrs or more per week.

Does the above is OK to fill the requirement for 1 job creation?

Thanks in advance.
Yes
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: 141
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Re: Job creation

Post by tier1entrepreneur-A » Fri Jan 17, 2020 8:38 pm

marcnath wrote:
Wed Jan 15, 2020 8:53 pm
tier1entrepreneur-A wrote:
Wed Jan 15, 2020 6:02 pm
Hi Team,

I just would like your advice wrt a job creation (1 job)

Employee 1 - PT - joined from Jan to Dec (12 months in total)
Employee 2 - PT - joined for 1 month only - only Jan (1 month in total)
Employee 3 - PT - Joined from Feb to Dec (11 months in total)

Combined working hours per week (Employee 1) and (Employee 2 then 3) = 30hrs or more per week.

Does the above is OK to fill the requirement for 1 job creation?

Thanks in advance.
Yes
Excellent, Thanks marcnath

tier1entrepreneur-A
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Re: Director's Loan agreement and Fund transfer

Post by tier1entrepreneur-A » Fri Jan 17, 2020 8:46 pm

Hi Team,

I would like your advice on the following:

One employee (A) (out of 10 employees in total) left the company in Oct 2019 after her job role (Job X) been closed (after spending almost 2 years working for the company), and she has joined the company again in Jan 2020 doing another job position(Job Y), and she will be working for the company on this position for 12 months when I apply for ILR, does this can be classified as two jobs created, as each last for 12 months or more full time, and both (Job X and Job Y) are different jobs (job title/job description) and the first role (Job X) doesn't exist anymore (no one has filled Job X after her left as no need for Job X for the company any more), could you please advise?

Thanks in advance.

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Re: Director's Loan agreement and Fund transfer

Post by marcnath » Fri Jan 17, 2020 8:54 pm

tier1entrepreneur-A wrote:
Fri Jan 17, 2020 8:46 pm
Hi Team,

I would like your advice on the following:

One employee (A) (out of 10 employees in total) left the company in Oct 2019 after her job role (Job X) been closed (after spending almost 2 years working for the company), and she has joined the company again in Jan 2020 doing another job position(Job Y), and she will be working for the company on this position for 12 months when I apply for ILR, does this can be classified as two jobs created, as each last for 12 months or more full time, and both (Job X and Job Y) are different jobs (job title/job description) and the first role (Job X) doesn't exist anymore (no one has filled Job X after her left as no need for Job X for the company any more), could you please advise?

Thanks in advance.
In my personal opinion, yes, it should be counted as separate jobs.
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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Re: Director's Loan agreement and Fund transfer

Post by tier1entrepreneur-A » Fri Jan 17, 2020 9:14 pm

marcnath wrote:
Fri Jan 17, 2020 8:54 pm
tier1entrepreneur-A wrote:
Fri Jan 17, 2020 8:46 pm
Hi Team,

I would like your advice on the following:

One employee (A) (out of 10 employees in total) left the company in Oct 2019 after her job role (Job X) been closed (after spending almost 2 years working for the company), and she has joined the company again in Jan 2020 doing another job position(Job Y), and she will be working for the company on this position for 12 months when I apply for ILR, does this can be classified as two jobs created, as each last for 12 months or more full time, and both (Job X and Job Y) are different jobs (job title/job description) and the first role (Job X) doesn't exist anymore (no one has filled Job X after her left as no need for Job X for the company any more), could you please advise?

Thanks in advance.
In my personal opinion, yes, it should be counted as separate jobs.
Excellent, Thanks marcnath for your confirmation, much appreciated.

tier1entrepreneur-A
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Employee working hours

Post by tier1entrepreneur-A » Wed Jan 29, 2020 9:09 am

Hi Team,

My company full time employees working 30hrs or more per week, so each month pay is different than the other (based on working hours), but working hours per week always 30hrs or more,

On each payslip (monthly) it include how many hours they work per month and hourly rate (i.e. 140 hours @ £8.50, or 120 hours @ £9.0)

My question is:
They almost work 6 hours on each working day or more Monday to Friday(total per week equal 30hrs or more), so for example Feb 2020 will be 120hrs (or more) per month, while in Jan 2020 they worked 138hrs (or more) per month (FEB 2020),

Does the above can make any confusion to CW, as the working hours vary between 120hrs and 142hrs? (i.e. not 130hrs as a fixed working hours per month)

Thanks in advance.

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