Business in Loss - Extension

[hulkboy1379]

Hello All

I have my extension in October, my question is does our business need to be in profit while applying for extension.

My company accounts as below:

2013 - Loss
2014 - Profit
2015 - Loss(no income)
2016 - I have income.

While extension including manageent accounts my loss will be around 20K. My accountant is saying as per the rule there is no requirement for profit but he said HO has rejected due to loss for one of his client.

Please help me whether this will be a issue.

[Legal83]

Loss or profit has nothing to do with home office. There is no where profit is a requirement for visa or in decision making.

[hulkboy1379]

thanks Legal 83

I have gone through complete guideines yesterday and no where it it mentioned regarding profit or loss but my accountant is saying so. Thanks a lot

Has anyone got the visa, who has applied with loss in their company??

[zimba]

Yes, I did

[business genius]

Hi Zimba
Did you get the salary as Director while your company is in loss.
Normally it's not a problem but from home office perspective,it is.

[hulkboy1379]

Yes, I did

Thanks a lot Zimba for your help, you made me stress. All my documents are looking good and my business is doing well this year. If possible can you please share your documents checklist so that I can cross check before dropping visa.

[10020132]

My friend made loss for all three years and still he got his extension. So profit has definitely nothing to do with extension

[hulkboy1379]

My friend made loss for all three years and still he got his extension. So profit has definitely nothing to do with extension

Thanks a lot 10020132. Is there any way I can get your frient checklist and did he used any solicitor? Is there any way I can speak to your friend once which will help me a lot in knowing that I am doing 100% correct.

[10020132]

I prepared his case file
Pm me whatever you wanna ask

[CR001]

I prepared his case file
Pm me whatever you wanna ask

Members are reminded to rather post on the public forum so that others can also benefit.

Also, members only have access to the PM function once they have reached 30 posts and any 'padding' or 'nonsense' posts will be deleted.

[9elizabeth]

Hello 10020132,
Can I send you a PM? I have couple of questions to ask you on documentation?

[noajthan]

Members are reminded to rather post on the public forum so that others can also benefit.

Also, members only have access to the PM function once they have reached 30 posts and any 'padding' or 'nonsense' posts will be deleted.

[10020132]

Hello 10020132,
Can I send you a PM? I have couple of questions to ask you on documentation?

Sure