Director of new Company for extension

[Rahilrafiq]

Dear Members,

I have some question to asked you guys please guide me and advice me.

I have a company on my name as a director from last two and half years and I am submitting my return to and filling accounts already.
Now for extension that is due in next September I want to switch from my company to a new company which is on my wife name just opened 6 month ago and want to show all my employees and remaining investment to new company by becoming a new director of that company.
only reason is why i switching my directorship to new company as my existing company not doing any good business and lack of future contracts but my wife company is different nature of business is doing well.

My question Can i change my company when i applying for my extension and show all my employees in new company. i will take all my employee after becoming a new directors of new company.

Note: if any good accountant available in this forum who does immigration casese and account please contact me as i need an accountant very urgently.
Please guide and advice any expert there it would be much appreciated.

[seasky]

You can certainly change companies during the period. I did and the guidance mentions it is common for entrepreneurs to switch businesses.

It makes sense to explain the rationale in covering letter

[Rahilrafiq]

Thanks for reply yeah policy guidance says you can run another business but you know due to percentage of decline application of extension i am just worried if i show all my remaining investment and employee to new company would effect my case or not. Is there any thread or any member in this forum who applied the extension application from new different company instead of one registered at time of initial tier-1 entrepreneur visa. thanks

[zimba]

Please read the guide. If you join an existing business, you have to provide extra documents for your application. Moving employees between two companies also might raise questions and could make HO to investigate you.