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Tier 1 Extension - Urgent Question

Only for UK Tier 1 (Entrepreneur) points system. This route is now closed to new applicants.

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Amz
Junior Member
Posts: 91
Joined: Tue Feb 14, 2017 4:15 pm

Tier 1 Extension - Urgent Question

Post by Amz » Sun Mar 12, 2017 9:22 am

Hi All

I have an urgent Query.

My cumulative loss for past 3 years is £16,500 and I have been taking Director's Salary as well. I have so far invested £56,000 into by business as director's Loan, Do i need to invest another £16,500 to bring the loss to £0 or would home office consider by Director's Salary as taken from Director's loan which I know for sure you cannot do.

Urgent Assistance is Required.

Regards

sm12
Diamond Member
Posts: 1069
Joined: Thu Jan 31, 2013 4:14 am

Re: Tier 1 Extension - Urgent Question

Post by sm12 » Sun Mar 12, 2017 4:29 pm

How much salary did you take?

Amz
Junior Member
Posts: 91
Joined: Tue Feb 14, 2017 4:15 pm

Re: Tier 1 Extension - Urgent Question

Post by Amz » Tue Mar 14, 2017 6:41 am

Hi SM12

I took roughly £23,000 in past 3 years (Cumulative)

I have another Question, My financial period ended on 28th Feb and by visa expires on 3rd April. So my 2 years accounts are created already, If i have to invest another £16,500 to bring the loss to £0 then do I mention that in management accounts for 1st March 2017 onwards for 4th year account or how would that work.

*** In the above scenario do we need to Invest £50,000 in 3 years of our visa visa approval (Mins was 24th April 2014) or 3 accounting period years which started from 28th February 2014 and ended on 28th February 2017 ?

Regards

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