Tier 1 Entrepreneur Extension Various Questions

[addmein]

Dear all,

I've an extension in the june 2017 under 50K PSW route. I've done all the 50K investment which fall under the 3 years accounting period(accounting period ends on 31st March every year). do i need to submit the unaudited/ managed accounts form 1st april to 30th May.? could someone kindly confirm if managed accounts are required and for howmany days.

[zimba]

Your accounts should be enough. No there is no need for management accounts.

[addmein]

Thanks Zimba88

[Happydays11]

Zimba even If company have cash in hand includes directors loan in last accounts.

[zimba]

Zimba even If company have cash in hand includes directors loan in last accounts.

What do you mean ?

[Happydays11]

Zimba even If company have cash in hand includes directors loan in last accounts.

What do you mean ?

Ok if I have 10000 in bank showing in my last accounts containing 6000 dl , do they requires management account to clear company finencial position ?

[zimba]

If your accounts do not fully cover the investment, then you need to send the interim accounts to cover it fully.

[marcnath]

Ok if I have 10000 in bank showing in my last accounts containing 6000 dl , do they requires management account to clear company finencial position ?

This is not clear. You mentioned you have made the full 50K investment. How come the accounts only show 6K ? How is the remaining 44K accounted for ?

The cash balance has no relation to the investment

[addmein]

Hi,
Can someone kindly suggest about continues employment for settled workers? I’ve the below employees. Does it satisfy home office requirement?
Note: I came know there is a different rule for continues employment if we had your visa after April 6th 2014. I.e. employment should be provided for continuously without a break. Please correct me if I’m wrong
Employee details
ROLE 1: ILR EMPLOYEE worked for 8months and replaced by another Brit citizen for next four months with one week gap and ongoing now
ROLE 2: BRITISH CITIZEN resigned after 10 months with notice period. Replaced with another employee with no vacancy gap and ongoing now
ROLE 3: ILR EMPLOYEE continuous 12 months employment and ongoing now

[marcnath]

Hi,
Can someone kindly suggest about continues employment for settled workers? I’ve the below employees. Does it satisfy home office requirement?
Note: I came know there is a different rule for continues employment if we had your visa after April 6th 2014. I.e. employment should be provided for continuously without a break. Please correct me if I’m wrong

There is no requirement for continuous employment. Read the guidance - it clearly says it DOES NOT have to be continuous.

Employee details
ROLE 1: ILR EMPLOYEE worked for 8months and replaced by another Brit citizen for next four months with one week gap and ongoing now
ROLE 2: BRITISH CITIZEN resigned after 10 months with notice period. Replaced with another employee with no vacancy gap and ongoing now
ROLE 3: ILR EMPLOYEE continuous 12 months employment and ongoing now

Just Role 1 and 3 is enough for your criterial. You have much more than you need.

[addmein]

Thanks for the Reply. However I've initial applied in JUNE 2014 and received in august 2014. is different in my case for employment of settled workers.

[marcnath]

Thanks for the Reply. However I've initial applied in JUNE 2014 and received in august 2014. is different in my case for employment of settled workers.

There is a difference pre and post April 2014.
Pre April 2014, we could have 12 jobs for 2 months each (and any other combination) and it would have been accepted.
For you, you need two jobs each lasting 12 months. But it does not have to be continuous. So, you can have an employee working in a job for 6 months and then have another employee doing the same job for 6 months one year later and it will be accepted.

[addmein]

with in that 12months employment. I've given a pay rise for the employees after Aprils. could you please le me know is that's okay.

[marcnath]

with in that 12months employment. I've given a pay rise for the employees after Aprils. could please confirm that's okay.

Yes, it is ok

[addmein]

many thanks for your help

[addmein]

Hi,

can someone kindly help.!

I had switched to visa UK Tier 1(Entrepreneur) 50K route in 2014 JULY from PSW.

could you please confirm what eligibility changes for extension Post 6 April 2014.?

did any one got an approved extension after 6th April 2017. I.E If you successfully applied for entry clearance or switched into the route from 6 April 2014.?

thanks you.!

[marcnath]

Hi,

can someone kindly help.!

I had switched to visa UK Tier 1(Entrepreneur) 50K route in 2014 JULY from PSW.

could you please confirm what eligibility changes for extension Post 6 April 2014.?

did any one got an approved extension after 6th April 2017. I.E If you successfully applied for entry clearance or switched into the route from 6 April 2014.?

thanks you.!

The only major change pre and post April 2014 is the strict interpretation of the Job Creation criteria.

I assume most of the post 2014 applications have just starting to be due for extension as the majority would have got 3 years + 4 months.

[addmein]

Thanks for your help

[addmein]

HI,

could someone kindly help.!

I've invested 52.5K as directory loan and taken directory payroll salary 850 a month.

ACCOUNTS :
2014-2015: profit
2015-2016: profit
2016-2017: loss 11K

Despite of having many expenses over 50K in three year with 3 settled employees form last 16 months.

does the above case cover the tier 1 investment requirement.?

Thank you!

[marcnath]

HI,

could someone kindly help.!

I've invested 52.5K as directory loan and taken directory payroll salary 850 a month.

ACCOUNTS :
2014-2015: profit
2015-2016: profit
2016-2017: loss 11K

Despite of having many expenses over 50K in three year with 3 settled employees form last 16 months.

does the above case cover the tier 1 investment requirement.?

Thank you!

If I assume you have sales/revenue well over 850 a month, and if so you should have no problem meeting the requirement.

[addmein]

Many thanks for the reply!

I've 30K, 55K and 79K sales receptively for the three years. The investment has been done in last two years.

could you please kindly confirm if its okay.?

[marcnath]

Many thanks for the reply!

I've 30K, 55K and 79K sales receptively for the three years. The investment has been done in last two years.

could you please kindly confirm if its okay.?

Yes, looks good

[addmein]

Many thanks for the reply.

[marcnath]

Many thanks for the reply.

You are welcome.

[addmein]

Hi

My account has provided me the RTI summary instead of FPS. as his payroll software has the FPS in the XML format which are not readable.

can someone kindly let me if the RTI would be okay instead of FPS.?