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Does HO expect you to support yourself without ....

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

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whiteroses
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Joined: Sat Jul 31, 2010 10:28 pm

Does HO expect you to support yourself without ....

Post by whiteroses » Tue Jan 27, 2015 2:10 am

....drawing any salary from you company?

People on various threads have been saying that if you pay yourself a salary from your company's revenue, then HO will deduct that amount from any amount you have invested. So if your share capital is £50,000 and you pay yourself a salary from revenues of £20,000, then your net investment is £50,000-£20,000= £30,000.
Is this correct? The guidance doesn't say you can't pay yourself from revenues. Besides, does HO expect one to find other ways to support himself or herself?
What would be the point of the business if you can't use the earnings for yourself?

Sohail Alvi
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Joined: Sat May 24, 2014 11:09 pm
Pakistan

Re: Does HO expect you to support yourself without ....

Post by Sohail Alvi » Tue Jan 27, 2015 10:01 pm

they normally ask in interview too that how you support yourself while your new business is in progress. So better not take any risk and give them chances to create another issue.

whiteroses
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Posts: 156
Joined: Sat Jul 31, 2010 10:28 pm

Re: Does HO expect you to support yourself without ....

Post by whiteroses » Wed Jan 28, 2015 1:10 am

Sohail Alvi wrote:they normally ask in interview too that how you support yourself while your new business is in progress. So better not take any risk and give them chances to create another issue.

That's a question about a slightly different issue....because it takes a while before the business makes a decent income. Up until that happens, you would need your own savings.

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