Help Needed!! Applying Feb 2017

[Marishres]

Hi all!

I am applying for extension in feb 2017.I have some few thing to raise:

1)When I applied for initial visa i showed 50k(some amount i collected from friends and family) which i showed from personal bank account. Once i got the visa I had return the borrowed amount to them which from personal bank account. I thought that amount which i put in personal is investment so when I had my business account I transfer my money in 3/4 transactions with the reference with directors loan instead of capital investment written.

2) I have internet based work and i work from home.I do not have office. My accountant have claimed few amount as expenses for using home. Now when i went through the form in pg41 K6 we need to show RICS SIGNATURE form which i do not have

3)I have registered director of the company as well as registed as self -employed also.
will it be a problem

the above 3 things i think i made a mistake.Please heip how can i correct it.
thankx

[zimba]

1)When I applied for initial visa i showed 50k(some amount i collected from friends and family) which i showed from personal bank account. Once i got the visa I had return the borrowed amount to them which from personal bank account. I thought that amount which i put in personal is investment so when I had my business account I transfer my money in 3/4 transactions with the reference with directors loan instead of capital investment written.

And the problem is ??

2) I have internet based work and i work from home.I do not have office. My accountant have claimed few amount as expenses for using home. Now when i went through the form in pg41 K6 we need to show RICS SIGNATURE form which i do not have

This is only relevant when you spent your money to BUY a commercial property which is also being used as residential property. Have you done that ??

3)I have registered director of the company as well as registed as self -employed also.
will it be a problem

No, the evidence for each path will be different. The choice is yours

[Marishres]

Thank you zimba!

Basically, I work from home and claim as an expenses of around £600 a year. Is it mandatory to have a proper office in a commercial building?

Also, do I have to submit a detail bank statement for a whole year or just a letter from the bank would suffice?


Thank you very much!

[zimba]

Basically, I work from home and claim as an expenses of around £600 a year. Is it mandatory to have a proper office in a commercial building?

That is fine, it is just required to have UK bank account and UK registered office.

Also, do I have to submit a detail bank statement for a whole year or just a letter from the bank would suffice?

An original bank statement showing you have a UK bank account

[Marishres]

Thank you guys for your help.

I have transferred in total 51K from my personal to business acnt since 2014 until today. Unfortunately, I took out 19K during 2014 as well. The balance I have today is 21k.

Now, I am concered if I have covered the minimum investment requirement of 50K. I am planning to go for directors loan.

Please advise!

Best!!

[zimba]

If you took some portion of it out as repayment, then your did NOT invest fully. You need full 50K investment.

[Marishres]

Once again thank you Zimba!

Just found out that I hadn't taken Employers' liability insurance for the year 2015 where as I had a staff in payroll from July 2015. Other indemnity and liability insurance is valid from day 1. I did not have any staff when I enrolled for the insurance.

Its all covered including the employers' liability for the year 2016 and will renew it further.

Do I need to submit the insurance documents covering the past years or should it be sufficient for last 1 year where its all covered?

Appreciate for your advice!

Best

[zimba]

No

[awan905]

Thank you guys for your help.

I have transferred in total 51K from my personal to business acnt since 2014 until today. Unfortunately, I took out 19K during 2014 as well. The balance I have today is 21k.

Now, I am concered if I have covered the minimum investment requirement of 50K. I am planning to go for directors loan.

Please advise!

Best!!

As long as you take the money on top of 50k then there is no issue, such as if your business is generating more money and is in profit, you must have to keep DL to limit of 50k, however if you have taken money back from DL then you need to put it back.

[Marishres]

Its regarding the employees!

I have a staff (then ILR now got british passport) since July 2015 and continuing. Full time with 120 hrs per month. I added another one (Refugee status) on March 2016, also full time, with 120 hrs per month.

Assuming I can follow the requirements before the revised version of the policy guidance as of before april 2014, do I still fulfill the requirements of job creation for this extension?

Please have your insights.

Best!

[zimba]

If you have more than 24 months of full time employment you are fine