Hi Lucapooka thanks for checking the new rules. Yes i agree we do not need to report on it in current application but under new rules Case worker may look into this before giving visa and can ask for it from applicant. I took the following paragrah from the following link
http://www.ukba.homeoffice.gov.uk/sitec ... /hc943.pdf
In making the assessment in (h), the UK Border Agency will assess the balance of probabilities. The UK Border Agency may take into account the following factors:
(i) the evidence the applicant has submitted;
(ii) the viability and credibility of the source of the money referred to in Table 4 of Appendix A;
(iii) the viability and credibility of the applicant's business plans and market research into their chosen business sector;
(iv) the applicant's previous educational and business experience (or lack thereof); (v) the applicant's immigration history and previous activity in the UK; 6
(vi) where the applicant has already registered in the UK as self-employed or as the director of a business, and the nature of the business requires mandatory accreditation, registration and/or insurance, whether that accreditation, registration and/or insurance has been obtained; and (vii) any other relevant information.