T1 Entrepreneur Pending Extension

[rayleo1990]

Dear Zimba & Admin,

I hope you are all well. I have lost my login for my account. there might be existing username from my ip, because i have posted few questions in the past but forgot my logins. please ignore it all
I have few questions please if you guys please be very kind to help me.
I have some confusions:-
Extension Application due in Dec:-
Initial leave wasT1 Ent Team 50k route
- My Team Member applied for ILR based on 10 year in last month ( went for same day but he was told decision will take time...still waiting)

I will be applying alone for my extension:-
Q1:- we showed proof of investments in our initial application. 50k in the form of director loan.
My Team member DL was 25k which was fallen short to 1280 after first year of business in accounts?
DO I NEED TO INVEST MORE TO SHOW 50K? Would there be any issue if my team members' DL was fallen short to 1280 after first year of business.

- 2 Job already created
- 50k is already invested but i still have about 5k active DL in my accounts?

I am really confuse as we filed our accounts twice and next accounts are not due untill april 2018.
Please suggest me what can i do?
even though i don't have to provide proof of investment again. but, is there any issue that my Team members DL was fallen after 1st year of business?

Your help will be greatly appreciated. also I will ask more questions here Zimba.

[marcnath]

You question is not very clear.

1) It appears you have got points for INVESTMENT in your initial application (i.e. you provided DL, bank statements, etc.). That means you don't need to provide evidence of investment for your extension - no need to submit accounts, bank statements, etc. So what is the confusion ?
2) What do you mean by DL fallen short ? Does that mean the company paid back the Director loan ?
3) Same question for your investment - what does it mean you have only 5K DL in your accounts ? Was your DL paid back too ?

I don't see any problems with your situation - you should qualify for getting the points for the various attributes.

As you are not going to submit accounts, the CW has no way of even knowing what the DL levels are without specifically asking you for more information (which they can)

The only other issue is to do with the Genuine Entrepreneur test. But it is not directly related to your investment activities.

[rayleo1990]

Thank you for your kind reply and so sorry for mixing up things.
1- Indeed 1st application was based on DL and proof of investment was provided with bank statements etc.
2- Yes, the company paid back the director loan to my partner.
3- My DL was paid back as well, but company still owes me 5k.

but would they not find it in the company's financial accounts that DL was paid back so quickly?
we have maintained all the records and business has been running smoothly throughout the period. Also, our first application was approved after interview.

[marcnath]

Thank you for your kind reply and so sorry for mixing up things.
1- Indeed 1st application was based on DL and proof of investment was provided with bank statements etc.
2- Yes, the company paid back the director loan to my partner.
3- My DL was paid back as well, but company still owes me 5k.

but would they not find it in the company's financial accounts that DL was paid back so quickly?
we have maintained all the records and business has been running smoothly throughout the period. Also, our first application was approved after interview.

I have found no requirement that the investment needs to be maintained (happy to be corrected). If your business is doing well, it may make sense for the business to reduce its liabilities for various reasons - I can't see why HO would object to it.

I assume they could go through your annual returns and find that the DL was paid back - but they still can't deny you the points for the investment, if it has been approved before.

[rayleo1990]

Thank you very much for clarification.
I also have very lazy question. please pardon me for it too:)
- My Mrs. and myself have one joint account. can we use it to claim maintenance points for 90 days. she joined me here in the UK about 13 months ago. so, i am hoping i only have to maintain £945 + 645 for 90 days.

[marcnath]

Thank you very much for clarification.
I also have very lazy question. please pardon me for it too:)
- My Mrs. and myself have one joint account. can we use it to claim maintenance points for 90 days. she joined me here in the UK about 13 months ago. so, i am hoping i only have to maintain £945 + 645 for 90 days.

Yes, you can use a joint account for maintenance funds.

[rayleo1990]

hi guy's need some assistance please.... my business is registered to home address...
one of my relative has worked for my business for 13 months living at same address. Is there any problem if the business address is same as employee address?
- i still have 4.5 months to go for extension. shall i change my business address in order to avoid confusion....

thanks

[marcnath]

hi guy's need some assistance please.... my business is registered to home address...
one of my relative has worked for my business for 13 months living at same address. Is there any problem if the business address is same as employee address?
- i still have 4.5 months to go for extension. shall i change my business address in order to avoid confusion....

thanks

Why do you even think there should be any problem ?

[rayleo1990]

just thought so:p
Guy's i have another query regarding extension please. My old accountant added me as a secretary of my company from aug 2014 till july 2015. and it shows in the filing history?
Just wanna clarify if there is any issue with it?
also I'm applying with my dependent and how much Health surcharge i have to pay? do we pay together or separate?

[marcnath]

just thought so:p
Guy's i have another query regarding extension please. My old accountant added me as a secretary of my company from aug 2014 till july 2015. and it shows in the filing history?
Just wanna clarify if there is any issue with it?
also I'm applying with my dependent and how much Health surcharge i have to pay? do we pay together or separate?

No issues with being the secretary as long as you have remained a Director.

Just start filling up the online form for health surcharge and it will give you all the calculations and payment options.

[rayleo1990]

Thank you very much...
Yes I had been continuous on director list.
I am so sorry for asking too many questions. Few more questions plz.
Do i have to mention my team member in the Ext. application form? we were entrepreneur team in initial application, and team member is still actively participating in the business but he is on ILR now.
The application form say Am i applying as a team?
what shall i choose there Yes or No? If i say yes I have to provide passport details of my team member.
please clarify it for me.
thank you

[marcnath]

Thank you very much...
Yes I had been continuous on director list.
I am so sorry for asking too many questions. Few more questions plz.
Do i have to mention my team member in the Ext. application form? we were entrepreneur team in initial application, and team member is still actively participating in the business but he is on ILR now.
The application form say Am i applying as a team?
what shall i choose there Yes or No? If i say yes I have to provide passport details of my team member.
please clarify it for me.
thank you

I think you can confidently say No to being part of the entrepreneur team as you are no longer relying on your partner's investment.
However, do explain the situation in your cover letter and provide all the information of your partner (passport number, PBS numbers, etc.)

[rayleo1990]

Dear Guru's can you please let me know about CAR...

our company was registered prior to initial application....
1- shall i send CAR from last 3 months only ? or do i also have to send copy of CAR from initial application ?

I have filed our accounts for 2 years from ( july 14- july 2015) ( july 15- july 2016).
2- Can i send statutory accounts for july 16- 2017. My accountant said he can prepare statutory accounts..
please suggest what's the best way......
also i am applying my extension alone....is it ok if i don't send my accounts for first year of business...

thanks a lot in advance.

[marcnath]

Dear Guru's can you please let me know about CAR...

our company was registered prior to initial application....
1- shall i send CAR from last 3 months only ? or do i also have to send copy of CAR from initial application ?

Not sure what you mean by CAR from initial application ? There are two things you need CAR for - to show that you were a Director initially and then to show that you are still a Director.

I have filed our accounts for 2 years from ( july 14- july 2015) ( july 15- july 2016).
2- Can i send statutory accounts for july 16- 2017. My accountant said he can prepare statutory accounts..
please suggest what's the best way......
also i am applying my extension alone....is it ok if i don't send my accounts for first year of business...

thanks a lot in advance.

Yes, any accounts is ok as long as it shows the total investment made. So, just the latest (ending Jul2017) is fine.

[rayleo1990]

hi Marcnath,

thank you so much for your time and replies...
I was trying to say that i did send Current appointments report as a part of initial application for T1 Ent.
we have to show that company/business was registered with in six month of switching/entering to T1 Ent.
for this i was thinking should i sent copy of CAR from last application as well.

[marcnath]

hi Marcnath,

thank you so much for your time and replies...
I was trying to say that i did send Current appointments report as a part of initial application for T1 Ent.
we have to show that company/business was registered with in six month of switching/entering to T1 Ent.
for this i was thinking should i sent copy of CAR from last application as well.

You don't need to send the old CAR unless it was for a different company

[rayleo1990]

hello Guru's,

need some idea plz.
- my 1st employee started in aug 16 last year as part time and then started working full time from 1-dec.
- my 2nd employee started on 1st dec 16 and both working full time till today.
My extension is due mid of Dec.
will it be ok if i send FPS from ( Aug 2016 - Nov 2017 )
and Pay Slips from Dec 16 -Nov 17
my accountant generates payslips on 6th of each month. means payslip generated on 6 dec will be for Nov
So, I was wondering payslips will be enough from dec- Nov to cover 1 year of employment? bit confused

[marcnath]

hello Guru's,

need some idea plz.
- my 1st employee started in aug 16 last year as part time and then started working full time from 1-dec.
- my 2nd employee started on 1st dec 16 and both working full time till today.
My extension is due mid of Dec.
will it be ok if i send FPS from ( Aug 2016 - Nov 2017 )
and Pay Slips from Dec 16 -Nov 17
my accountant generates payslips on 6th of each month. means payslip generated on 6 dec will be for Nov
So, I was wondering payslips will be enough from dec- Nov to cover 1 year of employment? bit confused

If you both have started FT on 1st Dec, then they will complete 52 weeks each by 30th November.

So Dec-16 to Nov-17 FPS and Payslips are sufficient. You probably will need to also send the Aug 16 FPS to show the start date of the first employee.

If it were me, I would not send any of the other PT FPS/payslips (Aug-Nov 16) as I would be worried it will confuse the CW.

[rayleo1990]

if i send one FPS from Aug and remaining FPS & Payslips from dec-nov.
do you think it will be sufficient and won't confuse the caseworker?

[marcnath]

if i send one FPS from Aug and remaining FPS & Payslips from dec-nov.
do you think it will be sufficient and won't confuse the caseworker?

Yes

[rayleo1990]

hi Marcnath,

I really appreciate your time and support.. I am still in the process of preparing and will keep on asking some boring questions:p so please don't mind.
I have 2 more questions today.
- Some payslips of my employees don't have number of hours worked? is it necessary to send number of hours on monthly payslips or Can i ask my accountant to generate all Monthly payslips without number of hours ?
- also does payslips needs to show the Post title (e.g. Marketing Manager) for which employees are working?

Thank you so much

[marcnath]

hi Marcnath,

I really appreciate your time and support.. I am still in the process of preparing and will keep on asking some boring questions:p so please don't mind.
I have 2 more questions today.
- Some payslips of my employees don't have number of hours worked? is it necessary to send number of hours on monthly payslips or Can i ask my accountant to generate all Monthly payslips without number of hours ?
- also does payslips needs to show the Post title (e.g. Marketing Manager) for which employees are working?

Thank you so much

No need for hours or job title on payslips

[Banglore]

Hi MarcNath, do we (i.e. applicant or director of a company) need to sign and date copies of employee payslips ?

Also, a similar question to rayleao1990... during my initial application which the HO withdrew my appeal. HO requested I transfer £50k into my business account (which I did) and they also requested proof I could spend the money which was residing in the business account (which I also did / provided proof). During the initasl application, I never provided (and they never asked for ) for Director's Loan Agreement.

Question is:- Do I need to provide a Directors Loan Agreement during extension even though I had provided proof funds transfer during my initial application ?

[rayleo1990]

Dear Marcnath & Zimba,

need some help please.
my accountant did not write anything in the notes sections of annual accounts 2016-17.
can i ask him to amend it?
As i said earlier, I don't want to send accounts for the 1st year i.e. 2015-16? will there be any issue?
My accountant told me that he will prepare accounts for 2017-18 by end of October and compilation report which i can send it to HO? please let me know will it be enough?
I am really confuse about it.....
Evidence of investments were already given during initial application, Now do i have only have to send accounts ? please let me know whats the most feasible way for me to claim points for investment.....
also i am applying alone my Team member is on ILR and waiting for his decision!!!

[marcnath]

I thought this was discussed befire

The guideline is very clear -
140. If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again.

You do not need to submit any accounts. Just refer to the above in your cover letter and explain you are claiming points without providing evidence because of that.