Tier 1 (Entrepreneur) visas extremely urgent query

[rayleo]

Hi Gurus,

I hope everyone is well. I have always learnt a lot from you guys and especially from moderators. Got few more questions again:)
My Extension is coming up in Dec-17.
I joined T1-Ent as a team after April 2014, and my team member is going for ILR next month based on his 10 years residency.
we invested 50k in the form of director's loan when we entered in the category and still working together. Now, I have to apply alone for Extension.

Can you guys' please let me know what would be the extra documentations I have provide ?
do i have to provide investment proof again?

your response will be really appreciated.

[zimba]

Depends.
What did you provide as the evidence when applied initially ? Did you show you have access to 50K or did you submit the proof of investment like DL agreement and company accounts ??

[rayleo]

Hi Zimba,

many thanks for your kind reply. We provided evidence that money had already been invested in the form of DL Agreement, and we sent proof of money transferred from personal to business account.
I invested 27k and my team member invested 23k at the time of initial application. Leave to remain was granted after interview.

[rayleo]

Hi Guy's
I'd really appreciate if you could please give me some tips about my situation?

[zimba]

Then no need to prove investment again in your extension as you got the points during initial.

[seasky]

Then no need to prove investment again in your extension as you got the points during initial.

Zimba, Won't they want evidence the DL has not been repaid and to complicate things, all £50K of it not just OPs part?

[zimba]

No, however they can request any evidence for checking during the process

[rayleo]

Thanks so much for your reply dear.
I am trying to keep everything up to the requirement:)
I will keep on asking more questions in future too.

[rayleo]

Hello guys,
I just want to clarify my situation. Do i need to send all the business account statements for extension?
T1 Ent (previous applied as Team) & now applying alone with dependent.
please let me know, how many months of business acc statements do i need to send for extension?

[zimba]

Send the last month to show you have an active business and a UK bank account

[rayleo]

Thank you Zimba for you time and kind replies,
So Sorry for asking too many questions:) Just trying to keep everything updated...
I have few more questions please....:p
1-
My both employees were paid in cash/cheque until end of march. Now salary in increased, and both will be paid directly from business acc bank transfer? would it affect my application ?
2-
My Team member is still working in business with me, but he is applying for ILR in July based on 10 years long residency. Do I need to mention him in cover letter or his details in the Extension form?
3-
Can my wife and myself use our single joint account to show maintenance funds?

Thank you so much

[Meesha]

1: You can pay in either way i:e cash/cheque/bank transfer. Obviously u must be having wage slips which are required to show pay rate and hours worked

2: You can mention about him in cover later

3: Yes. Joint account is ok

Thank you Zimba for you time and kind replies,
So Sorry for asking too many questions:) Just trying to keep everything updated...
I have few more questions please....:p
1-
My both employees were paid in cash/cheque until end of march. Now salary in increased, and both will be paid directly from business acc bank transfer? would it affect my application ?
2-
My Team member is still working in business with me, but he is applying for ILR in July based on 10 years long residency. Do I need to mention him in cover letter or his details in the Extension form?
3-
Can my wife and myself use our single joint account to show maintenance funds?

Thank you so much

[tiaset]

Hello Everyone,
I was wondering if anyone can help me please. I have spent 2 n half yrs in T1 Ent. Team, and my team member is applying for ILR because he completed his 10 years.
I have to apply for ext. alone, i was wondering that does it impact my extension as i was part of team when i applied and now extension is alone?
the other team member was involved in business, but he didn't didn't work on full time basis...is it important for him to work full time? or after his ILR?
lastly, I have been taking basic salary from business, my payslips don't show number of hours worked monthly, as i was fully involved in bussiness..but my employees payslips shows hours worked in month?
please let me know if my payslips also need to show hours worked monthly? and do i have to send my payslips aswell for extension?

thanks to everyone.. I will appreciate your urgent help.

[CR001]

You appear to have multiple user IDs posting from the exact same IP address, with the same questions.

member/rayleo/posts/
member/dotnetuser001/posts/

Suggest decide very quickly which one you wish to continue with before I ban all of them.

Multiple Member IDs (click)

[tiaset]

hi
can you please reply here in this threat only and delete the others two..as i forgot my password for rayleo..also one thread was from my team member!

thanks

[seasky]

Hello Everyone,
I was wondering if anyone can help me please. I have spent 2 n half yrs in T1 Ent. Team, and my team member is applying for ILR because he completed his 10 years.
I have to apply for ext. alone, i was wondering that does it impact my extension as i was part of team when i applied and now extension is alone?

Each extension application is independent. So if you did everything correctly it is fine. Worth mentioning in cover letter the situation. For clarification you have to show full investment (not half...) and full employment

the other team member was involved in business, but he didn't didn't work on full time basis...is it important for him to work full time? or after his ILR?

No

lastly, I have been taking basic salary from business, my payslips don't show number of hours worked monthly, as i was fully involved in business..but my employees payslips shows hours worked in month?
please let me know if my payslips also need to show hours worked monthly? and do i have to send my payslips aswell for extension?

The issue with your salary is that it should not come from base investment, rather from profits or any investment above £50/200K. Sorry I don't know about the hours issue (I don't think any of my employees has hours on payslip, but we had to calculate in on the extension form, there was no doubt it was above min wage. In your personal case I don't think HO cares what your hourly rate is and since we entrepreneurs work 600 hours a months it could easily be under min wage!)

thanks to everyone.. I will appreciate your urgent help.

[tiaset]

Thanks a lot Seasky.
with regards to investment I guess Zimba told me few days ago, that i don't need to send proof of investments again, because in previous application we gave proof of investments in the form of director loan and money was all transferred from personal to business account shared by two applicants. please clarify

[seasky]

I would want Zimba to weigh in. But while I would not send proof of investment I would send 'info' that the DL has not been repaid. Speciffically your partner's who now has less interest visa wise

[zimba]

My advice remains the same as per rules, it is up to you to send investment evidence again if you wish

[tiaset]

Dear moderators,

I have couple of questions please. My Accountant is preparing my accounts for last year
1- My accountant is drafting my accounts, and my last years accounts' have directors' salary of 10k. it is shown under Administrative expenses. Is it OK to show it like this? Also, In my previous application Proof of investment was already shown in the form of DL?

please help. I am very confuse about it.

Thank you

[zimba]

Annual accounts preparation