Tier 1 visa extension question

[omoba911]

Hello Gurus in the House, please I have a question about my tier 1 extension due in July 2017

Initial visa was issued in Aug 2014 and 50k was transferred from personal acc to business acc in Jul 2014. ( I provided this bank statement showing as part of initial tier 1 visa application)

However, in Feb 2015 I took out 50k from the company to invest outside the company so my director loan was no longer in credit for year end 2015 after i got the visa

In march 2016, I reinvested the 50k back into the company and employeed 3 full time british for 14months each. spent entire 50k on salaries.

Question can I just submit only one financial/management account for the year ending march 2016 for the extension as this show the direction loan in credit in my name and shows the investment of 51k spent on salary. ( i intend to use the same bank statement submitted to home office in july 2014 which showed the intial transfer from personal to business account for the extension)

or do I have to submit the three accounts and explain to home office why i took out the money from the company after initially transferring it?

Please advice

[zimba]

can I just submit only one financial/management account for the year ending march 2016 for the extension as this show the direction loan in credit in my name and shows the investment of 51k spent on salary.

Yes

[omoba911]

Many Thanks Zimba. I really do appreciate your advice.

[omoba911]

Please another question as I am due to apply next week

The business bank statement showing transaction of £53,337 into the business in my name and my directors loans agreement shows same amount.

However my unaudited account shows £53,350 has directors loan in my name. Question: is this a problem or do i have to explain in anyway to home office when i submit?

[marcnath]

Please another question as I am due to apply next week

The business bank statement showing transaction of £53,337 into the business in my name and my directors loans agreement shows same amount.

However my unaudited account shows £53,350 has directors loan in my name. Question: is this a problem or do i have to explain in anyway to home office when i submit?

I can't see that it would be a problem as it is above the 50K needed.

But, be proactive and explain in your cover letter.

[omoba911]

Thanks to everyone including Zimba and Mcrcacnth. I received my tier 1 50 extension approval letter in the post today. This forum is extremely valuable and I am really grateful. I did not use any lawyer.

Below is my timeline
Applied 29 July 2017
Application received 31 July 2017
Biometric letter dated 2 Aug 2017 and received 4 Aug 2017
Biometric Given: 5 Aug 2017
Online status decided update 13 Aug 2017
IHS Received 18 Aug 2017
Approval letter dated 14 Aug 2017 and received 18 Aug 2017
Document and passport received 18 Aug 2017
BRP...waiting


I strongly advice anyone applying to strictly follow the guidance and keep your application as simple as possible.

I did not send p11 or p45, p60 or accountant investment letter. Application was properly labelled and documentation were simplified

[marcnath]

Congrats on your successful application and under three weeks !!

Obviously, you did something really right.

[omoba911]

Congrats on your successful application and under three weeks !!

Obviously, you did something really right.

Thanks for your help. I really appreciate.

The only thing I can say is it was just God. I simplified my application very well to help the case worker.

Maintenance was just 1 sheet. I put the money in a separate account and did transaction on last day of the statement and few in between. case worker didn't need to scroll several pages

jobs -- i created three full time job for three British employees.. each worked more than 12month stretch and did minimum of 30 hours per week

investment i submitted only 1 sheet of readily identifiable transaction of £53k. one company annual account for 2016/2017 year end