Commercial property investment

[marcnath]

Also, as I mentioned business entity changed from partnership to company,

On google while searching business, old partnership name has been appeared and because company has been set up since march this year, new details has not been updated on google. Having old business name screenshot would be fine for geographical location proof ?

There is no requirement for geographical location proof.

Totally aside and FYI - you can update Google information yourself. Click on Claim your business button, provide the necessary authentication and then update the info (Nothing to do with immigration - just good business practice)

[rahul190]

Okay,

Can I pay National insurance from business account ?

[marcnath]

Okay,

Can I pay National insurance from business account ?

Again and again, NI has no impact on T1E applications as long as you have followed the HMRC rules.

[rahul190]

Due to late filing tax return, I had penalty and it's getting higher, my accountant has filed appeal.

Hmrc respond late and it will take time to get through appeal.

My entrepreneur extension visa application will be done soon.

Does this penalty has any effect on my case / do I have to pay this penalty before application or can I let my accountant to carry appeal ??

[rahul190]

Also,

After preparing all final accounts, for shortage fund to meet requirement as I mentioned earlier of £20k, invested through personal to business account. Director loan agreement will be done. Do I have to prepare management account for that period as well that has £20k transaction.

[marcnath]

Due to late filing tax return, I had penalty and it's getting higher, my accountant has filed appeal.

Hmrc respond late and it will take time to get through appeal.

My entrepreneur extension visa application will be done soon.

Does this penalty has any effect on my case / do I have to pay this penalty before application or can I let my accountant to carry appeal ??

Nowhere in the immigration rules is there any reference to all this.

There is only a generic reference to complying to all laws. And if and your accountant are doing everything as per the law, there should be no issues

[marcnath]

Also,

After preparing all final accounts, for shortage fund to meet requirement as I mentioned earlier of £20k, invested through personal to business account. Director loan agreement will be done. Do I have to prepare management account for that period as well that has £20k transaction.

Yes. Your accounts need to show the full investment.

[rahul190]

Hi.

£80,000 spent ( via personal to business account) and paid to solicitor for buying commercial property

Due to any future problem in case have refusal situation, that commercial property bought is under name of my business partner name.

My name is not in any part of commercial property paperwork that has bought, but have name in business as a partner.

If we prepare surveyor report and that report state commercial property value as £80,000.

Can I rely on this £80,000, only reason concern me is my name is not under any paperwork made for this property but transaction of £80,000 can clearly see as transferred from my personal to business account and paid to solicitor from business account.

Appreciate quick response due to running out of time

[marcnath]

Hi.

£80,000 spent ( via personal to business account) and paid to solicitor for buying commercial property

Due to any future problem in case have refusal situation, that commercial property bought is under name of my business partner name.

My name is not in any part of commercial property paperwork that has bought, but have name in business as a partner.

If we prepare surveyor report and that report state commercial property value as £80,000.

Can I rely on this £80,000, only reason concern me is my name is not under any paperwork made for this property but transaction of £80,000 can clearly see as transferred from my personal to business account and paid to solicitor from business account.

Appreciate quick response due to running out of time

What is the property used for ? Residential use and property development uses are excluded from investment.

You have invested the money and you have the records to show that. That will qualify you for the points for investment. How the money is used (except for some limitation like above) will not impact that.

Valuation of property is immaterial.

If I were the CW, how it is accounted for in the books might raise some questions - leading to a complex situation and potential interview. If the property was owned by the business, it would have been better.

But it should still not matter too much if you can explain properly if asked.

[CR001]

marcnath

OPs topics merged AGAIN. The OP seems to have over complicated things and trying to find a way to dig himself out of what appears to be not investing as required.

[rahul190]

Freehold property £185k, £50k fixture & fitting, total £235k

Out £185k, I only counted £80k which is commercial

Can I rely on this £80k even though I have not got any paperwork as I said to prove it any stage?

£80k of commercial part of property used for retail business

I have gone way far of complicated but can't give up, I'm in a critical situation

[marcnath]

Freehold property £185k, £50k fixture & fitting, total £235k

Out £185k, I only counted £80k which is commercial

Can I rely on this £80k even though I have not got any paperwork as I said to prove it any stage?

£80k of commercial part of property used for retail business

I have gone way far of complicated but can't give up, I'm in a critical situation

Ok. This seems to be going around in circles. I guess as @CR001 pointed out, you seem to be figuring out something for investment when you have not invested.

You are listing assets here. Assets are not investment.

If you have not transferred 200K in cash to your businesses or you don't have the evidence to show that you moved 200K in your name, then you don't meet the investment requirement - period.

[rahul190]

As I mentioned in post earlier, £80k has clearly transferred from my personal to business and then paid £80k only out of £215k value, rest paid by partner

[marcnath]

As I mentioned in post earlier, £80k has clearly transferred from my personal to business and then paid £80k only out of £215k value, rest paid by partner

I saw that. But I just can't understand what your question is then.

Assets and asset values don't matter for your visa application !!!

To repeat - how the business spends the money invested is immaterial (with a few constraints)

[rahul190]

Only question is £80k can see as an investment but does it count as I have spent it or not ?

[marcnath]

Only question is £80k can see as an investment but does it count as I have spent it or not ?

There is no requirement that you have to have spent all the money.

[rahul190]

It is understandable, reason has made it concerns me because that money has been used, guess if that money was available jn account, it wouldn't create any issues

[marcnath]

It is understandable, reason has made it concerns me because that money has been used, guess if that money was available jn account, it wouldn't create any issues

I still fail to understand your concern. Money invested is expected to be used and not just held in the bank - that is not how a business works.

If you had left the entire investment in the a bank account without using it, then that would raise questions.

The guideline (but not the immigration rules) says "The money should be used in the business, for example to encourage growth or expansion, or to improve services or products"

I do not know your business but just from all the discussions, my question would not be about whether that money is in the account or spent but rather what the use of your property is for. The business/partnership seems to have invested in a property + furniture/fittings worth 235K. It could be a valid business investment and the property may be used for the criteria above - for example, as a manufacturing facility or as a retail outlet. But, if it rented out, for example, that investment would not be counted towards award of points.

[rahul190]

"The business/partnership seems to have invested in a property + furniture/fittings worth 235K. It could be a valid business investment and the property may be used for the criteria above"

Correct, out of 235k only 80k commercial part of property has been used for business purpose, business activity is retailer and selling products

1. I want to show 80k investment as mentioned above where I meet requirement because money has clear entry in accounts from personal to business which is fine
2. I want to show 80k as spent as well, mentioned above business activity and what it stands for in property

I'm have asked this question earlier and trying to get answer


QUESTION:


My name is not in any part of commercial property paperwork that has bought, but have name in business as a partner.

If we prepare surveyor report and that report state commercial property value as £80,000.

Can I rely on this £80,000 as I have spent this money correctly?

[marcnath]

I'm have asked this question earlier and trying to get answer


QUESTION:


My name is not in any part of commercial property paperwork that has bought, but have name in business as a partner.

If we prepare surveyor report and that report state commercial property value as £80,000.

Can I rely on this £80,000 as I have spent this money correctly?

What I have been trying to say is that all these questions are irrelevant to the immigration rules.
Especially on the last point, I have already answered it many times - how the business spent the money has no relevance to your immigration application except for some restrictions like spending on property management.

As I understand it, it is not the business that bought the property. The business just paid the solicitor and your partner bought the property. I have no idea how you show it in your accounts, but I assume the books should show that the solicitor owes your business 80K. So there is no connection between the property and you or your business.

[rahul190]

Okay, in that case I will not worry about spending the money correctly

It's just my representative asked for surveyor report and mentioned what value on commercial will be counted under my 200k after all their understanding

Due to I didn't have any paperwork, i was concerned should I go ahead with surveyor report or not.

[rahul190]

Hello,

Question aside from above,

Because my case has many complex situation,

In worse scenario,

If first application comes up with refusal (mainly confusion has occurred into shortfall to meet investment requirement)

1. Do they come up with figure states in refusal letter that how much money has been accounted to meet requirement?

2. If I choose to make fresh application, within 28 days am I allowed to invest required amount to invest as director loan?

[marcnath]

Hello,

Question aside from above,

Because my case has many complex situation,

In worse scenario,

If first application comes up with refusal (mainly confusion has occurred into shortfall to meet investment requirement)

1. Do they come up with figure states in refusal letter that how much money has been accounted to meet requirement?

Generally they do.

2. If I choose to make fresh application, within 28 days am I allowed to invest required amount to invest as director loan?

There is no 28 days anymore, it is 14 days.
You are allowed to invest whenever you want to. Whether that investment will be accounted for your points is a different matter. The requirement says "... in your last grant of leave", so the strict interpretation means it won't.

It may be complex situation, but the investment requirement and the evidence needed is straightforward. So, you should know whether you meet the requirement or not. If you meet it, a rejection can still happen but you should win it on AR, not a fresh application.

[rahul190]

Okay,

So within 14 days either AR or fresh application, right?

Can you explain this bit more please?

"The requirement says "... in your last grant of leave", so the strict interpretation means it won't."

So far I know it will be shortfall and I will not meet requirement, though still application not done yet,

As you say generally they come up with figure, and if rest of the documents are fine then what are the chances for scoring points for money invested by director loan after first refusal?

it's tricky situation but not many choices I have

[marcnath]

Okay,

So within 14 days either AR or fresh application, right?

Right

Can you explain this bit more please?

"The requirement says "... in your last grant of leave", so the strict interpretation means it won't."

Your last grant of leave refers to the dates between date the visa starts and the date the visa expires. So the investment is expected to be made in that period. By the time you know of any rejection, the expiry date of your visa would be long over. So trying to invest at that time may not qualify for points.

So far I know it will be shortfall and I will not meet requirement, though still application not done yet,

As you say generally they come up with figure, and if rest of the documents are fine then what are the chances for scoring points for money invested by director loan after first refusal?

it's tricky situation but not many choices I have

This is what I tried to answer above. I rate the chances of scoring points for money invested after the expiry date on your Visa very low.

Remember you have another problem if you don't meet the investment when you have applied. I am sure the CW will suspect that the only reason you are not investing the full amount is because you don't have access to the money. And not having access to the money THROUGHOUT your visa period is a violation of your initial grant - so they can curtail your initial visa. If they do that, even a fresh application won't help.
So, make sure you meet the requirement and not take the risk.