Enterpreneur extension help

[drn36]

Dear Gurus and friends.
I am New in this forum. I am in Tier 1 Entrepreneur visa ( 50000 Route). My extension due in first week of May 2017. I am in document preparation and collection stage now.
I have some queries.
Q1. I have invested 50000 pound in form of Director's Loan from my personal account to Business account in
five installments. I have prepared Director's Loan agreement as well. But in my business account it is
shown as 'Share capital' instead of 'Director's Loan'. Will it be any issue or it's OK with me?
Q2. My Business is running in profit and most of the expenses are covered by income. and the investment
money is still in my business account? Do I need to spend all investment money in to business during this
initial period? as one of Immigration solicitor suggested me to do so. But I haven't found such
requirement in policy guideline. Am I OK with this?
Q3. I paid IHS online for me and one of my dependent and got one IHS Number. can I use same number for
me and my dependent? As I didn't found any option to pay for extension and simply clicked on Tier 1
Entrepreneur visa and it automatically asked me to pay 1200 pound instead of 800 pound? Shall I get the
refund later or need to contact somewhere to amend this amount?
Q4 One of my employee will reach 12 months only in 30th April. Can I produce management account
showing the employee payable and produce the payslip for that post around 25th April?


Many Many Thanks and looking forward your valuable suggestion.

[zimba]

Q1. I have invested 50000 pound in form of Director's Loan from my personal account to Business account in
five installments. I have prepared Director's Loan agreement as well. But in my business account it is
shown as 'Share capital' instead of 'Director's Loan'. Will it be any issue or it's OK with me?

Money must be traceable to you. That is all.

Q2. My Business is running in profit and most of the expenses are covered by income. and the investment
money is still in my business account? Do I need to spend all investment money in to business during this
initial period? as one of Immigration solicitor suggested me to do so. But I haven't found such
requirement in policy guideline. Am I OK with this?

No, no requirement to spend the money

Q3. I paid IHS online for me and one of my dependent and got one IHS Number. can I use same number for
me and my dependent? As I didn't found any option to pay for extension and simply clicked on Tier 1
Entrepreneur visa and it automatically asked me to pay 1200 pound instead of 800 pound? Shall I get the
refund later or need to contact somewhere to amend this amount?

You get one IHS number for you and your dependants. You often get the refund automatically after your application is decided

Q4 One of my employee will reach 12 months only in 30th April. Can I produce management account
showing the employee payable and produce the payslip for that post around 25th April?

Employment evidence has nothing to do with your company accounts
You can only claim employment period until before the date of your application

[drn36]

Thank you Zimba88 for your prompt response. It clears all my doubts.
Thanks Again.

[drn36]

Hi Zimba,
I have one more query,

I applied my Initial Visa on 21/03/2013 and got a visa on 09/05/2014.
What category am I fall?
Is it Pre April Transitional arrangement or Post April Transitional?

Thank you
drn36

[zimba]

You successfully applied to enter the route before 6 April 2014, so you are covered by transitional arrangements

[drn36]

Once again thank you very much Zimba88 for your quick response.
One more question.
I live in rented property.
I used my home as office for the first year and charged around 1200 pound for rent. Do I still need to send surveyor valuation for that property? As my solicitor asked me to do so. But in my understanding of guidelines , it is only applicable when the applicant bought a property which includes residential accommodation.
Am I correct?

Many thanks.
drn36

[raj.m]

Once again thank you very much Zimba88 for your quick response.
One more question.
I live in rented property.
I used my home as office for the first year and charged around 1200 pound for rent. Do I still need to send surveyor valuation for that property? As my solicitor asked me to do so. But in my understanding of guidelines , it is only applicable when the applicant bought a property which includes residential accommodation.
Am I correct?

Many thanks.
drn36

Rent has got nothing to do with it. Your solicitor is asking you to do irrelevant things.

[drn36]

Thank you very much raj.m for your clarifications.
Just one more clarification GURUS.
I applied my Initial Visa on 21/03/2013 and granted the visa on 09/05/2014. Assuming that I fall in Pre April 2014 transitional arrangement.
I am claiming points as follows.

Employee 1 for Job 1
01/05/2016 - 31/03/2016 11 months x 130hrs @ 7.20 Total 1430hrs
01/04/2017 1 months x 130 hrs @ 7.50 130hrs
12 months Total 1560hrs

Employee 2 for job 2

01/06/2015 -30/09/2015 4 months x 130hrs @ 6.50 Total 520hrs
01/10/2015 - 31/03/2016 6 months x 125hrs @ 6.76 Total 750hrs
01/04/2016 - 30/06/2016 3 months x 130hrs @ 7.20 Total 390hrs
13 Months Total 1660hrs

Am I safe with this claim?

Thank you very much
drn36

[drn36]

Hi Friends and Moderators,
I really need an concrete answer whether I am OK with my claim in job Creation and employment hours for the period. Initial visa applied in March 2013 and granted in My 2014.
I have still a bit confusion. I am claiming point for job 1 with one employee for the period 13 months and for job two with another full time employee.I have posted details of hours and month calculation in my previous post.
My confusion is whether the total employment period should be exact 24 months or else. because in my case it's 25 months. so bit worried about this

Please friends. Shed some light in my situation I really need help cos my visa will be expire soon and I I don't want to be in trouble.

Thanks
drn36

[zimba]

If you created at least 24 months of full time employment you are good to go.

[drn36]

Hi Zimba88,
Thank you for your kind response. sorry to keep asking.
My case is as follows.

Employee 2 for job 2

01/06/2015 -30/09/2015 4 months x 130 hrs @ 6.50 Total 520 hrs
01/10/2015 - 31/03/2016 6 months x 125 hrs @ 6.76 Total 750 hrs
01/04/2016 - 30/06/2016 3 months x 130 hrs @ 7.20 Total 390 hrs
13 Months Total1660 hrs


First 4 months covers full time ( 520 hrs) .
Next 6 months covers only 750 hrs instead of 780 hrs.Short of 30 hours. Because this is not full time.
Next 2 months covers full time (160 hrs)
To cover that short 30 hours, I add one more month. But the question is whether I can use 13 months period to claim 1560 hours or not in pre transitional arrangement?

for employee 1 for job 1. there is no issue.I am covered 1560 hours within 12 months full time.
Hope I am able to clear my case now and looking forward an answer.

Thank you.
drn36

[zimba]

There is NO GUIDE on this subject. You can assume that HO will accept this. Under transitional arrangements, equivalent of 2 full time jobs for a year will be accepted

[seasky]

There is NO GUIDE on this subject. You can assume that HO will accept this. Under transitional arrangements, equivalent of 2 full time jobs for a year will be accepted

Zimba, I thought it was straighforward transitional. It is total hours, except for any hours over 30 in a given week?

[drn36]

Hi Zimba88 and Friends.
Hi Zimba88 and Friends
Hi Zimba88 and Friends.
More clarification please.
My employment with employee 1 is like this. ( Same person and same job)
01/06/2015 -30/09/2015 4 months x 130 hrs @ 6.50 Total 520 hrs ( 4 months full Time)
01/10/2015 - 31/03/2016 6 months x 125 hrs @ 6.76 Total 750 hrs ( 6 months Part Time)
01/04/2016 - 31/12/2016 9 months x 130 hrs @ 7.20 Total 390 hrs ( 9 months Full Time)
Altogether 19 months continue Employment.

Can I claim like this skipping 6 months part time in between period ?

First 4 Months full time = 520 hrs
last 8 Months full Time = 1040 hrs
12 Months full Time = 1560 hrs
If I do like this, the job can't not be shown as continue 12 months. there is 6 months gap. Is it OK with transitional arrangement?

Thanks
drn36

[drn36]

Please gurus.
I really need help. Cos I am in critical situation now.
Drn36

[seasky]

Please gurus.
I really need help. Cos I am in critical situation now.
Drn36

I am not sure what your issue is. According to transitional practice you need to have employed for 3,120 hours (as long as hours were not over 30 in a week). And while I am confused by your calculations you seem to be over this. besides waht is required in the form iteself make the calculation even clearer in the cover letter so CW has no misunderstandings (you hired min wage for more or less exactly the minimum time needed, the CW is not going to be excited about your application).

Lastly, what else can you do but write the hours that you employed, unless you can employ more between now and extension it is what it is

[zimba]

Please go ahead with your application. 3120 hours created should cover you under transitional arrangements

[drn36]

Hi Gurus And Friends,
I have one more query. I live in rented house and I used part of my rented house as my business premises around two years After that I rented virtual office. As my nature of business doesn't require separate premises to rent.
During the period I was using my home, I charged some amount in my business. It is shown in my account report like this.
Use of home £1200.

Is there any issue with this? or do I need to submit any supporting documents? My accountant said there is no issue because as per HMRC rule we can claim up to £1200 as USE OF HOME if we run our business from home. But the other hand the solicitor said we need to submit surveyor valuation for this. I am completely confused.

I didn't see anything in Policy Guidance that explain this issue.If anyone here in board who successfully granted there extension with the condition USE OF HOME and can share what extra documents we need to submit? Please Zimba88 and experienced friend, I need your help.
Thanks
drn36

[zimba]

While this is seen as standard practice for small home run businesses, the Tier 1E rules obviously do not cover every single scenario. I advise not to include such fees as part of the money invested as it involves residential property. Working from home has also some pitfalls and requires permission from your landlord, council, etc which could come up during any interview.

[drn36]

Thank You Zimba88 for your suggestion.
That means If I simply exclude such expenses from my account, I will be safe?
Thanks
Drn36

[zimba]

I did NOT say that. I said if you spent £3000 on your own home rent, that will be excluded from the investments.

[drn36]

Thank you Zimba88 for your valuable suggestion. It cleared most of the doubts. If I need more clarification in other related topics. I will keep posting.

Thanks
drn36