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say I have invested 220k till now and have taken out 25k as Director's Salary and bought a 20k EV car, would HO still consider me to have invested 220k OR would they consider it as 175k?
A company car or director's salary forms part of your own remuneration. They will be excluded as investments for award of points
See also Aviable funds in the caseworker guidance: https://assets.publishing.service.gov.u ... v24ext.pdf(ii) ‘Invested’ means that the funds have been invested into a business or businesses which the applicant is running as self-employed or as a director or member of a partnership. ‘Invested’ or ‘spent’ excludes spending on:
(1) the applicant’s own remuneration,
(2) buying any business from a previous owner, where the money ultimately goes to that previous owner (irrespective of whether it is received or held directly or indirectly by that previous owner) rather than into the business being purchased (This applies regardless of whether the money is channelled through the business en route to the previous owner, for example by means of the applicant or business purchasing ‘goodwill’ or other assets which were previously part of the business.),
(3) investing in businesses, other than those which the applicant is running as self-employed or as a director, and
(4) any spending which is not directly for the purpose of establishing or running the applicant’s own business or businesses.
Hi Zimba, director's salary from a business is not part of investment and should it be topped up? I always thought that director could take a salary from the business?Zimba wrote: ↑Sat May 30, 2020 2:38 amA company car or director's salary forms part of your own remuneration. They will be excluded as investments for award of points
Immigration rules Part 6a under paragraph 245D(c)(ii):See also Aviable funds in the caseworker guidance: https://assets.publishing.service.gov.u ... v24ext.pdf(ii) ‘Invested’ means that the funds have been invested into a business or businesses which the applicant is running as self-employed or as a director or member of a partnership. ‘Invested’ or ‘spent’ excludes spending on:
(1) the applicant’s own remuneration,
(2) buying any business from a previous owner, where the money ultimately goes to that previous owner (irrespective of whether it is received or held directly or indirectly by that previous owner) rather than into the business being purchased (This applies regardless of whether the money is channelled through the business en route to the previous owner, for example by means of the applicant or business purchasing ‘goodwill’ or other assets which were previously part of the business.),
(3) investing in businesses, other than those which the applicant is running as self-employed or as a director, and
(4) any spending which is not directly for the purpose of establishing or running the applicant’s own business or businesses.
It is not possible to answer this without knowing about your business. Has the business been generating revenue ? When has the revenue been generated? and so on.
the business has been generating revenue from month 1 and have continued to do so every month since then.
Who said a director cannot take salary from a business ??! It is obvious that you cannot pay yourself your own money and claim you invested in your business. Tier 1E investment should be used to cover expenses of the business not its director
As long as your salary+ car costs have not exceeded the revenue generated at any time, you should be ok. So if you took salary in month 5, the revenue generated until that time has to be greater than the salary