Entrepreneur Partner Separation

[wya2015]

Dear Experts,

Our initial application was granted as a team. My Entrepreneur partner got ILR thorough 10 rework years already around 2 months before and I just applied for my Extension. Its pending now. He is still my business partner BUT now wants to resign from companies house and wants to give me 100% share for certain amount of money. In my extension application I have shown him as entrepreneur partner and extension was for me only.

1. What is the process of separating partners according to the Law in T1 Entrepreneur?
2. If he resigns now, what impact may come in my decision?
3. What is the best solution in this case?

Please help me with suggestion and experience.

Thanks

[zimba]

1. What is the process of separating partners according to the Law in T1 Entrepreneur?

There is no such process. Your case is always evaluated separately, you can simply share investment and job creation evidence. That is all

2. If he resigns now, what impact may come in my decision?

should not have any effect on your application

3. What is the best solution in this case?

Better ask him to resign after your extension if you can

[wya2015]

Thank you zimba.

I have shared the investment. I have shown that I invested 25k and he invested 25k. But how the job creation will be calculated if he resigns. In my application, I said he is still my entrepreneur partner and shown the job creation accordingly.

If he resigns, does HO calculate half job creation in my side? How does it works?....I really need advice here.

I am trying to keep him till my extension, but if I cant.....what will happen?

Please elaborate this matter.

Thanks again

[zimba]

It is NOT about being 50/50 at all. AGAIN, your application is separate. A job created when you were a director can be claimed by you.

[wya2015]

Thank you zimba.

That means there is no problem if we dont continue as partner anymore and have full 100% share of the company?

[seasky]

Thank you zimba.

That means there is no problem if we dont continue as partner anymore and have full 100% share of the company?

Correct. The only thing Zimba alluded too is the (small) risk of genuine entrepreneur test if he is quitting that it does not raise reed flags in the back of the mind of HO caseworker

[zimba]

It should be perfectly fine. There is no genuineness concern with respect to your partner