Director's Loan agreement and Fund transfer

[marcnath]

It is still Entrepreneur remuneration but it does not matter as you can consider it paid from you revenue rather than investment.
In general if you meet the following two conditions you are ok:
1. Investment >= 50k
2. Investment + revenues - remuneration >= 50k

[tier1entrepreneur-A]

It is still Entrepreneur remuneration but it does not matter as you can consider it paid from you revenue rather than investment.
In general if you meet the following two conditions you are ok:
1. Investment >= 50k
2. Investment + revenues - remuneration >= 50k

Many thanks marcnath for your valuable and detailed advice, much appreciated,

Best Regards.

[bizman]

It depends on the investment route. If its Directors loan, then you have to refund it.

[marcnath]

It depends on the investment route. If its Directors loan, then you have to refund it.

What does this even mean ? Please elaborate.

There is ABSOLULTELY no difference in how investment is handled whether it is DL or Share capital. The only difference is in the evidence provided.

[tier1entrepreneur-A]

Hi Team,

I would like to ask your opinion if the following will be counted as two full time employment or only one,

An employee has been employed on my business, Full time, for more than 12 month, as Administrator,

And then she has left the job,

And after few months, she have returned back to rejoin my business to carry on the same job, Full time employment, for over 12 months,

Does the above will be counted as TWO full time jobs, or only one??

Keep in mind, it's the same job title and the same position, same employee, full time, each time for over 12 months of employment,

Thanks in advance,

Best Regards.

[marcnath]

It would be only one job.
Even if it was a different person, it would still be one job only.

[tier1entrepreneur-A]

It would be only one job.
Even if it was a different person, it would still be one job only.

Thanks Marcnath.

[tier1entrepreneur-A]

Hi Team,

WRT ILR Accelerated route (after 3 years under Tier 1 Entrepreneur visa) which require at least creation of 10 full time jobs for at least 12 months each,

@Case #1:
Should all the 10 employee required to be working on the the time of ILR application?, (end of the third year under Tier 1 Entrepreneur visa)

@Case #2
Or it can be as below:

Business #1 - 2 x Employee - start from year one and still running on time of ILR Accelerated application.

Business #2 - 4 x Employee - started on year 1 and closed (or reduced the staff) on year 3 pre ILR Accelerated application submition.

Business #3 - 5 x Employee - started on year 1 and closed ( or reduced the staff) on year 3 pre ILR Accelerated application submition.

Each of the above employee work for 12months plus.

Looking forward to hearing from you,

Thanks in advance.

Best Regards.

[marcnath]

There is no requirement for them to be employed at the time of application.

[tier1entrepreneur-A]

There is no requirement for them to be employed at the time of application.

Thanks Marcnath for your valuable advice, it's much appreciated,

I assume that ILR application decision will not take long time same like extention, is that correct?

Thanks in advance.

Best Regards.

[marcnath]

There is no requirement for them to be employed at the time of application.

Thanks Marcnath for your valuable advice, it's much appreciated,

I assume that ILR application decision will not take long time same like extention, is that correct?

Thanks in advance.

Best Regards.

Actually, it is the other way around.
Extension service target is 8 weeks and ILR 6 months.
But there are plenty (including me) who have got ILR under 10 weeks.

[tier1entrepreneur-A]

Hi Team,

I would like your valuable advice with regarding to renting a one bedroom flat for company staff use in a city where my services will be required, which I need to visit in regular basis, and it is far away from my personal/family flat (another city),

Does this could be recognised/accepted as allowable business expenses by HO?, and can be paid using my business account?

If the above will be acceptable, the contract for the flat renting should be between the landlord and the company or with myself?, i.e. company name or my name,

Looking forward to hearing from you,

Thanks in advance,

Best Regards.

[marcnath]

Hi Team,

I would like your valuable advice with regarding to renting a one bedroom flat for company staff use in a city where my services will be required, which I need to visit in regular basis, and it is far away from my personal/family flat (another city),

Does this could be recognised/accepted as allowable business expenses by HO?, and can be paid using my business account?

If the above will be acceptable, the contract for the flat renting should be between the landlord and the company or with myself?, i.e. company name or my name,

Looking forward to hearing from you,

Thanks in advance,

Best Regards.

HO does not regulate how you or your business spends money.

[tier1entrepreneur-A]

Hi Team,

I would like your valuable advice with regarding to renting a one bedroom flat for company staff use in a city where my services will be required, which I need to visit in regular basis, and it is far away from my personal/family flat (another city),

Does this could be recognised/accepted as allowable business expenses by HO?, and can be paid using my business account?

If the above will be acceptable, the contract for the flat renting should be between the landlord and the company or with myself?, i.e. company name or my name,

Looking forward to hearing from you,

Thanks in advance,

Best Regards.

HO does not regulate how you or your business spends money.

Thanks marcnath for your reply, it's much appreciated,

Which means that HO mainly care about transferring the money to the business account, employ staff, and not get director salary unless your business make a profit, and not run a business on the restricted type of business (unless you have more fund over the £200k and you want to invest them on real state or so), Is that correct?

Thanks in advance.

Best Regards.

[marcnath]

Hi Team,

I would like your valuable advice with regarding to renting a one bedroom flat for company staff use in a city where my services will be required, which I need to visit in regular basis, and it is far away from my personal/family flat (another city),

Does this could be recognised/accepted as allowable business expenses by HO?, and can be paid using my business account?

If the above will be acceptable, the contract for the flat renting should be between the landlord and the company or with myself?, i.e. company name or my name,

Looking forward to hearing from you,

Thanks in advance,

Best Regards.

HO does not regulate how you or your business spends money.

Thanks marcnath for your reply, it's much appreciated,

Which means that HO mainly care about transferring the money to the business account, employ staff, and not get director salary unless your business make a profit, and not run a business on the restricted type of business (unless you have more fund over the £200k and you want to invest them on real state or so), Is that correct?

Thanks in advance.

Best Regards.

Correct.
Even on salary, revenue should be good enough, not necessarily profit

[tier1entrepreneur-A]

Many thanks marcnath for your clarification.

[tier1entrepreneur-A]

Hi Team,

I'm a company director and shareholder with other two British citizen,

My question is:
If both of them (directors/shareholders/British citizen) start to get paid monthly by our company (PAYE, 30 hours per week) as employee from now onward,
Do these two jobs will be counted toward the two Full time employment jobs (HO job creation requirement for visa extension)?

Thanks in advance.

Best Regards.

[marcnath]

Hi Team,

I'm a company director and shareholder with other two British citizen,

My question is:
If both of them (directors/shareholders/British citizen) start to get paid monthly by our company (PAYE, 30 hours per week) as employee from now onward,
Do these two jobs will be counted toward the two Full time employment jobs (HO job creation requirement for visa extension)?

Thanks in advance.

Best Regards.

Yes

[tier1entrepreneur-A]

Hi Team,

I'm a company director and shareholder with other two British citizen,

My question is:
If both of them (directors/shareholders/British citizen) start to get paid monthly by our company (PAYE, 30 hours per week) as employee from now onward,
Do these two jobs will be counted toward the two Full time employment jobs (HO job creation requirement for visa extension)?

Thanks in advance.

Best Regards.

Yes

Thanks marcnath for your reply, it's much appreciated,

Could you see/highlight any restrictions or any points I should take care of when I proceed with the above "employ company director and shareholder- job creation HO requirement"?

Thanks in advance for your valuable advice.

Best Regards.

[marcnath]

Hi Team,

I'm a company director and shareholder with other two British citizen,

My question is:
If both of them (directors/shareholders/British citizen) start to get paid monthly by our company (PAYE, 30 hours per week) as employee from now onward,
Do these two jobs will be counted toward the two Full time employment jobs (HO job creation requirement for visa extension)?

Thanks in advance.

Best Regards.

Yes

Thanks marcnath for your reply, it's much appreciated,

Could you see/highlight any restrictions or any points I should take care of when I proceed with the above "employ company director and shareholder- job creation HO requirement"?

Thanks in advance for your valuable advice.

Best Regards.

None that I can think of

[tier1entrepreneur-A]

Thanks marcnath,

Another question:

Is it acceptable to combined two part time jobs, same company, same role/position (24 hours work per week and 10 hours work per week - total 34 hours per week) to be counted as one full time job (each last for 12 month or more)? and to be one of the 10 jobs required for ILR ( Accelerated Route)?

It's clear that it will acceptable on the extension stage (2 full time jobs or full and part time), but I want a clarification WRT the 10 job creation for ILR Accelerated route.

Thanks in advance.

Best Regards.

[marcnath]

Thanks marcnath,

Another question:

Is it acceptable to combined two part time jobs, same company, same role/position (24 hours work per week and 10 hours work per week - total 34 hours per week) to be counted as one full time job (each last for 12 month or more)? and to be one of the 10 jobs required for ILR ( Accelerated Route)?

It's clear that it will acceptable on the extension stage (2 full time jobs or full and part time), but I want a clarification WRT the 10 job creation for ILR Accelerated route.

Thanks in advance.

Best Regards.

Yes, the rules are quite clear that the criteria is same for the jobs in regular or accelerated route.
I recall a case here where all of the 10 jobs were made up of part-time workers.

[tier1entrepreneur-A]

Thanks marcnath,

Another question:

Is it acceptable to combined two part time jobs, same company, same role/position (24 hours work per week and 10 hours work per week - total 34 hours per week) to be counted as one full time job (each last for 12 month or more)? and to be one of the 10 jobs required for ILR ( Accelerated Route)?

It's clear that it will acceptable on the extension stage (2 full time jobs or full and part time), but I want a clarification WRT the 10 job creation for ILR Accelerated route.

Thanks in advance.

Best Regards.

Yes, the rules are quite clear that the criteria is same for the jobs in regular or accelerated route.
I recall a case here where all of the 10 jobs were made up of part-time workers.

Many thanks marcnath for your valuable advice, it's much appreciated,

My understanding is that EEA worker is considered as "settled worker", and a copy of his European passport should be sufficient to be part of the documents required to prove job creation, so any European passport holder will be considered as "settled worker", is that correct?

Thanks in advance.

Best Regards.

[marcnath]

My understanding is that EEA worker is considered as "settled worker", and a copy of his European passport should be sufficient to be part of the documents required to prove job creation, so any European passport holder will be considered as "settled worker", is that correct?

Correct

[tier1entrepreneur-A]

My understanding is that EEA worker is considered as "settled worker", and a copy of his European passport should be sufficient to be part of the documents required to prove job creation, so any European passport holder will be considered as "settled worker", is that correct?

Correct

Thanks marcnath,

Another question:

My understanding that I should be the director of the company pre employing staff who will be counted toward the job creation,

Any requirements that my investment in that particularl company should be before employing these people?, or the director status is the only requirement and doesn't matter what date will be my investment in that business?

Thanks in advance,

Best Regards.