Dear Members,
As far as I understand: 'HO is not accepting Share cirtificates as an evidence of investment. The accounts should have the shareholders name against the shares and value of the share on the dates of its purchase and If the accounts has no name you should submit a register of company members from Companies House'.
Hopefully, I'll submit both, 'Accounts with shareholder name and it's value', plus, 'Register of company members from Companies House'.
When I bought or took-over the business 3.5 years ago from someone in UK, there were already 70K in UK Business bank account. I've paid the whole amount to that person by other means, became sole-director and 100% share-holder of that company and submitted my initial application, which got rejected initially, but got approved later via Tribunal.
The thing is I didn't transfer 50K or more funds from my current acount to this business account (which I think is a proper channal or way to proof your investment), hence I don't have that proof and feeling confused about business bank account submission in my extension application now.
Is this mandatory or I don't need that ?
Plus, can someone please explain the below as well:
'Invested’ or ‘spent' excludes spending on: Buying the business from a previous owner, where the money ultimately goes to that previous owner (irrespective of whether it is received or held directly or indirectly by that previous owner) rather than into the business being purchased (This applies regardless of whether the money is channelled through the business en route to the previous owner, for example by means of the applicant or business purchasing ‘goodwill’ or other assets which were previously part of the business)'.
Sorry for a long post.
Prompt replies would be highly appreciated.
Kind Regards,
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