Tier 1 (Entrepreneur) visa extension - Date of Investment

[desigirl80]

Hi All

I incorporated my company in March 2013 and applied for Tier 1 (Entrepreneur) visa (£50,000 route) . I got my visa in July 2013 and I am due for extension in July 2016.

Initially I was planning to showing investment as Directors Loan but didn't know that I had to send out bank statements to HO as proof as well. Even though all the investment £70,000 + has been actually transferred its was done in very small amounts between £500 - £ 1000 as and when the business needed. Going through all these transactions now and showing them is proving to be extremely messy.

I was discussing with my accountant to convert the directors loan account into share capital to avoid the hassle of showing the transfer of director's loan from my account to business.For that I believe my accountant would need submit another annual return.

Q:
If I convert the directors loan account into share capital now (June 2016) What would be my date of investment in the Tier 1 extension form?
If my date of investment is June 2016, will it cause problems in my application?

Thanks