One team member got ILR second apply Tier 1 E

[Yummum4200]

One quick question
If one team member left the company beacayse he had ILR.
Second member going to apply tier 1 E SOON ..
first team member transfer money into business as a director loan and he got paid off all money through cash in other country . Does it effect into second member tier 1 e. ??
First team member full paid off money which he put it into business through director loan. And last year accounts also shows only one director name and also all invested funds shows with one and only second director name now.
Does it make any problem for second member when he apply tier1E??
Regards

[zimba]

Every application for extension is separate. Team members can only share the evidence for investment and jobs if apply for extension.
In this case, the 2nd member needs to show full investment under her/his name to be able to extend

[Yummum4200]

Thanks to reply zimba

Investment is all his second member .. but when invested 50k in 2014 one member put 25 second put 25 . So directors loan was with two name for two year closing . One member got ILR 4 month before second member extension application ...
How to say.
Last year account name was only one person name who's going to apply tier1 e soon, directors loan was made it with only one member name whose going to apply extension soon . Is that okie with second memebee ...
First member money was paid off when he left being a director from company .. as he left comapny the rest of all his incestmed money was paid of back of his country ??
Is that okie with other memeber whose applying soon ??
Regards

[zimba]

If the director's loan of at least 50K is not under his name or both names, then HO will not award any points. Director's loan is technically under both their names and 50% cannot simply be paid back to one of them.
The accounts must show that the director's loan is under his or his partners name of at least 50K. If half of the money was paid back to the other director, this means that the investment is now at 25K which is not acceptable.

[Yummum4200]

Thanks zimba

Director loan is with both name ... but first team member got his money back after he left company ..
Director loan is with both name .
But when they made last year director loan which is £57k this loan is with second team memeber . And all money is settled down before second memeber apply tier1 e.

[hina_pirzada]

Hi Zimba, I am in same situation,

My partner got his ILR last year. We didn't make any investment in first 2 years. Last year September he got his ILR but he is still Company Director. In the current year I have invested all 50K under my name because I need to apply my extension nest year in May.

At the time of initial application we both claim that we have equal access of funds.

In current situation what is opinion about investment. Did I do right if I invested all 50K under my name?

Please advise.

Q2. Also when I go to write DL so I need only my name in DL or include both director(s). Currently my partner is working with me as a company director.

Please advise.

Thanks

[zimba]

Thanks zimba

Director loan is with both name ... but first team member got his money back after he left company ..
Director loan is with both name .
But when they made last year director loan which is £57k this loan is with second team memeber . And all money is settled down before second memeber apply tier1 e.

If there is loan of at least 50K under his name, then where is the problem ?? There is no issue in that case

[zimba]

Hi Zimba, I am in same situation,

My partner got his ILR last year. We didn't make any investment in first 2 years. Last year September he got his ILR but he is still Company Director. In the current year I have invested all 50K under my name because I need to apply my extension nest year in May.

At the time of initial application we both claim that we have equal access of funds.

In current situation what is opinion about investment. Did I do right if I invested all 50K under my name?

Please advise.

Q2. Also when I go to write DL so I need only my name in DL or include both director(s). Currently my partner is working with me as a company director.

Please advise.

Thanks

That should be fine given you technically do not have a Tier 1E partner any more. Write the loan agreement under your name

[Yummum4200]

Thanks zimba88