Visa Refused

[hnav]

Hi Guys

Tier 1 ent £50k (PSW) visa refused fund in personal accounts UK. I need help now going for appeal. Please share your experience.

I have invested £1200 in my business and remaining £ 48k in my personal account in UK. I have provided company accounts and letter from registered accountant confirming £ 1200 invested in business and did not provide director loan agreement. I have provided them investment receipt and account statments showing investment

Reason
Paragraph 41 Appendix A
As evidance of this you have provided a bank statment, company accounts and a letter from registered chartered accountant confirming money invested in business.
However, this evidance shows that you have access to £48k as letter from accountant letter is not acceptable, the company accounts accompanying your application do not clearly show the investment made, and you have not provided a director's loan agreement or share certificate.

What are the chances in appeal and what supporting documents need to produce in appeal

Many Thanks

[ishfaqsangra]

Hi Guys

Tier 1 ent £50k (PSW) visa refused fund in personal accounts UK. I need help now going for appeal. Please share your experience.

I have invested £1200 in my business and remaining £ 48k in my personal account in UK. I have provided company accounts and letter from registered accountant confirming £ 1200 invested in business and did not provide director loan agreement. I have provided them investment receipt and account statments showing investment

Reason
Paragraph 41 Appendix A
As evidance of this you have provided a bank statment, company accounts and a letter from registered chartered accountant confirming money invested in business.
However, this evidance shows that you have access to £48k as letter from accountant letter is not acceptable, the company accounts accompanying your application do not clearly show the investment made, and you have not provided a director's loan agreement or share certificate.

What are the chances in appeal and what supporting documents need to produce in appeal

Many Thanks

1200+48000=49200,,,what about the rest 800 pounds?secondly it is quite clear to provide Director Loan Agreement ,you can have a word with your accountant and relook the company accounts and submit if you have cheques copies made for company .I do not think that accountant's letter is not accepteble unless it is accompained with proper accounts and director loan agreement.

[hnav]

Dear Ishfaq

I have £ 50900 total investment in which £ 1200 invested and remaining in my personal account in UK. I have also provided them invoice of purchases, bank statments ( showing Investment tran ), registerd charter accountant has made accounts and wrote in his company letter head about investment made but they said accountant letter is not acceptable.

Please tell me what are my chances to win appeal and what documents need to submit in appeal.

Many Thanks

[Olasunkanmi]

@ hnav, how much was in your personal account when you submitted your application apart from the £1200 you claim to have invested?

[hnav]

I had £48900 in my account

[ishfaqsangra]

I had £48900 in my account

As some people got their visa approved by producing letter from accountant as I think company accountant is a legal representative for account matters,but it may be because there was no agreement produced between you and company as you mention,

I think you should see what you have given to company and make another agreement letter ,get it confirmed by Solicitor with proper required wordings and accountant as a legal representative can be justified,as both Companies house and HM revenue send company to ask if they want to authorize accountants when they request online.I did receive that letter and have authorized my accountant,but may some Gurus will explain better than me.

[shan101]

All you need to prove that you had transferred £1200 as a director loan from personal account to company account. You have to convince the tribunal in your appeal that your intention of that transfer (£1200) was director loan.

[Olasunkanmi]

I had £48900 in my account

If I may ask again, did you use the same account for your maintenance funds as that might have been a confusion for the caseworker?

[hnav]

No

Both are different bank statments

[Olasunkanmi]

@ hnav,

I am of the opinion that your appeal has a very high chance of success, but the best option is for you to have an alternative plan in place by making necessary plans for new application should in case the appeal turn otherwise.

You should concentrate on drawing the attention of the judge to the fact that you have already spent £1200 on your business with documents and the rest of the funds are in your personal account.

I think that you should also get a lawyer to notarize your Director's loan agreement to make it a legal document as the refusal points to the fact that your accountant is not accepted as a legal representative to certify the director's loan agreement.

[hnav]

Hi

Can any body explain me that what is director loan?

I have transfer the £ 1200 from my personal account ( where my all £ 50k investment is available ) to business account and invested in business. I still have to make loan agreement ?

My solicitor said it is director investment and i do not need director loan agreement because i have invested that money. UKBA rejection is unlaw full.

Accountant produced all company account in his software and investment comes in expenses of the company in company accounts. Accountant can not write about investment in company accounts but accountant can produced a letter in which can explain investment amount, dates.

[Olasunkanmi]

@ hnav,

Can any body explain me that what is director loan?

I have transfer the £ 1200 from my personal account ( where my all £ 50k investment is available ) to business account and invested in business. I still have to make loan agreement ?

My solicitor said it is director investment and i do not need director loan agreement because i have invested that money. UKBA rejection is unlaw full.

Accountant produced all company account in his software and investment comes in expenses of the company in company accounts. Accountant can not write about investment in company accounts but accountant can produced a letter in which can explain investment amount, dates.[/quote]


If you read the policy guidance very well, then you will see the requirement for director's loan. Your lawyer is wrong to suggest that you don't need the agreement. Everybody that transfers money from their personal account into their business account need to have a director loan agreement.
In your case you should have shown 50k funds in your personal account rather than mixing £48,900 available funds with £1200 invested funds without a director's loan agreement for the £1200 funds invested in the business.

You can pursue your appeal while at the same time make plans for a new application.

[hnav]

Olasunkanmi

I have seen policy guidance and i find in page no 40

Types of investment accepted for the award of points

A19. Direct cash investment
In order to ensure that the money is used by the business, you should provide the accounts of that business for assessment. These accounts must be shown the investment in money made directly by you, in your own name.

Share capital
This only applies to migrant with a company structure that can raise money through share

Director' loan
This only applies to migrants who become directors of a company. A director's loan to the company will be considered for the award of points as long as it is unsecured and subordinated in favour of third party creditor.

My accountant made my company accounts and produced letter in company letter head and explain that money has made investment in my name and put transaction dates and amounts

[hnav]

Olasunkanmi

Can you please explain me following type of investment. Its confusing me.

Types of investment accepted for the award of points

A19. Direct cash investment
In order to ensure that the money is used by the business, you should provide the accounts of that business for assessment. These accounts must be shown the investment in money made directly by you, in your own name.


Many Thanks

[Olasunkanmi]

Olasunkanmi

Can you please explain me following type of investment. Its confusing me.

Types of investment accepted for the award of points

A19. Direct cash investment
In order to ensure that the money is used by the business, you should provide the accounts of that business for assessment. These accounts must be shown the investment in money made directly by you, in your own name.


Many Thanks

To be frank, HO are some bunch of confusionist, they mix up everything in the policy guidance, but I will advice that you read the immigration rules as well rather than sticking with just the policy guidance.

From the experience of members on this forum, the easiest way is to show cash in personal accounts as anything that has to do with invested funds in the business has lots of controversy at the moment because of the documents that HO are now requesting with it.

But from my personal opinion, money in business accounts are also ok to use as ''available funds'' from the immigration rules and policy guidance but its better to avoid trouble with HO if you cant fight it out with them.

[hnav]

Thanks Olasunkanmi you reply

My silicitor also saying there are lots of confusion in policy guidance and also saying rules of evidential flexibilty allow to HO to ask further evidence in my case.
I have given them enough prove of investment ( bank statments showing investment, receipt of purchase, accountant latter showing investments and accounts showing clealy two investment in it ) in this case if diector loan agreement missing or this investment is another form then they must ask applicant additional evidance not refuse the case.

He says no need for director loan agreement according to rules this refusal is unlaw full and we can fight with out director loan agreement.

[Kumar197]

Hi,
I have open business bank account in sept 13 that time to give a start up I have transferred 300gbp from my personal bank account to my business account.after that I have never did the same.i have £52000 in overseas funds and my maintenance fund is in my personal account £1500 now do I need to show director loan for that 300gbp .?

Plz advice and oblige.

[hnav]

Hi kumar

According to my knowledge If you maintain £ 50 k then no need for direcor loan agreement but wait other members to explain you.

Thanks

[Olasunkanmi]

Thanks Olasunkanmi you reply

My silicitor also saying there are lots of confusion in policy guidance and also saying rules of evidential flexibilty allow to HO to ask further evidence in my case.
I have given them enough prove of investment ( bank statments showing investment, receipt of purchase, accountant latter showing investments and accounts showing clealy two investment in it ) in this case if diector loan agreement missing or this investment is another form then they must ask applicant additional evidance not refuse the case.

He says no need for director loan agreement according to rules this refusal is unlaw full and we can fight with out director loan agreement.

Your case is likely to be won at the appeal under evidential flexibility because you submitted other evidence of invested funds apart from the missing director loan. I will advise you to carry out more research about director's loan on the internet to understand that regardless of HO mix up in the policy guidance, you still need to have a director's loan agreement for any cash transfer into business as standard.

[Olasunkanmi]

Hi,
I have open business bank account in sept 13 that time to give a start up I have transferred 300gbp from my personal bank account to my business account.after that I have never did the same.i have £52000 in overseas funds and my maintenance fund is in my personal account £1500 now do I need to show director loan for that 300gbp .?

Plz advice and oblige.

Since you have 50k fund in your account, you don't need a director's loan agreement at the initial stage as you just need to choose available funds and avoid ticking any portion on the form that has invested funds. You can then make necessary documentation for all funds transferred to your business for the purpose of extension.

[hnav]

Olasunkanmi

I found on internet about director,s loan. Please correct me if i am wrong

Director's Loan

A director’s loan is when you (or other close family members) take money from your company that isn’t a salary, dividend or expense repayment and you’ve taken more than you’ve put in.


https://www.gov.uk/directors-loans

Director's Loan Account
If you're a company director and take money out of your company that's not a salary or a dividend - over and above any money you've put in - you're classed as having received the benefit of a director's loan.

www.hmrc.gov.uk/ct/managing/director-loan.htm

Thanks so much for your help

[Olasunkanmi]

@ hnav, it actually work in 2 ways, you can either borrow money from your business or you can also lend money to your business and both are term as ''Directors loan.

You actually omitted this portion in the link you quoted;

''You must keep a record of any money you borrow from or pay into the company - this record is usually known as a ‘director’s loan account''.

[hnav]

Olasunkanmi

That means every time we make investment like transfer from personal account to business account and invested exactly same amount you transfer come in direcor's loan and write agreement for it and show in company account as well.

Olasunkanmi any idea regarding direct cash investment how its work

A19. Direct cash investment
In order to ensure that the money is used by the business, you should provide the accounts of that business for assessment. These accounts must be shown the investment in money made directly by you, in your own name.

Thanks

[Olasunkanmi]

Olasunkanmi

That means every time we make investment like transfer from personal account to business account and invested exactly same amount you transfer come in direcor's loan and write agreement for it and show in company account as well.

Olasunkanmi any idea regarding direct cash investment how its work

A19. Direct cash investment
In order to ensure that the money is used by the business, you should provide the accounts of that business for assessment. These accounts must be shown the investment in money made directly by you, in your own name.

Thanks

I have stated my personal opinion earlier on in the discussion;

Olasunkanmi

Can you please explain me following type of investment. Its confusing me.

Types of investment accepted for the award of points

A19. Direct cash investment
In order to ensure that the money is used by the business, you should provide the accounts of that business for assessment. These accounts must be shown the investment in money made directly by you, in your own name.


Many Thanks

To be frank, HO are some bunch of confusionist, they mix up everything in the policy guidance, but I will advice that you read the immigration rules as well rather than sticking with just the policy guidance.

From the experience of members on this forum, the easiest way is to show cash in personal accounts as anything that has to do with invested funds in the business has lots of controversy at the moment because of the documents that HO are now requesting with it.

But from my personal opinion, money in business accounts are also ok to use as ''available funds'' from the immigration rules and policy guidance but its better to avoid trouble with HO if you cant fight it out with them.

[hnav]

Olasunkanmi

First of all please correct me if you belive i am wrong. I am not doing any argument with you just explaining my research about director's loan agreement requirments

If you see HO policy guidance version 2.0 ( valid from 11 nov 2013 ) page no 45 and 46 expaining further about how the money must be used

The money must be used in the business to encourage growth or expansion, to improve services or product and to make sure the business is profitable. Director's loan however are permitted to remain in a bank account, provided the loan is not called in.

Thats means if i transfer money from personal account to business account for investment and invested in business for encourage growth or expansion, to improve services or product and to make sure the business is profitable and do not remain in bank account. In this case i do not required for director's loan between me and company. It is called investment in business

Please correct me if i am wrong


www.ukba.homeoffice.gov.uk/siteconten...

Many Thanks