T1 Entrepreneur Pending Extension

[rayleo1990]

Thank you very much MarchNath for your un-ending help.
Then,
Q1:
how'd i prove business was running successfully 3 months before visa expiry?
Can i prove my active involvement in business by sending CAR?

[marcnath]

Thank you very much MarchNath for your un-ending help.
Then,
Q1:
how'd i prove business was running successfully 3 months before visa expiry?
Can i prove my active involvement in business by sending CAR?

There is no requirement to show your business was running "successfully" to scored points.

You just need to show that you are involved in a business by either being self-employed or a Director of a business.

[rayleo1990]

Hi Marcnath, Zimba and all seniors

I have had meeting with my solicitor today in order to prepare my application, and i have got more confusion.
If you guys please go through what we discussed.

BACKGROUND:
INITIAL APP: TI1 ENT. TEAM (Proof of invest provided with DL agreement 25k team member 26k mine)
Team Member switched to 10 year ILR (but he is still waiting for his decision from last 3 months)

My Solicitor told me that, i have to provide proof of investment again for 50k (inital 26k + 24k more) and it will be good for my application. Because, I am applying alone, and my team members director laon is fallen short to 1200£ with in a year). he told me it means, my investment is only 26k in the busienss.
so, according to him it would be ideal not to give home office opportunity, and i can put 24thousand pounds more in my business account.

my Team member is still on directors list and on monthly salary....
I am really confuse again.
I would appreciate if you guys' could put some input towards it.

[marcnath]

The guidance is quite clear
1. If you have been given points for investment at a previous application, you will be awarded the points again without providing evidence
"140. If you provided evidence of the funds as part of your last successful application you do not need to provide that evidence again."
2. Each applicant's application is reviewed on its own.
Statements such as "will be good"or "would be ideal" cannot be argued against - no one can prove or disprove those. But they seem to indicate they are optional.
What you need to do is ask your solicitor what is absolutely necessary and what is optional.
You can then make the decision on the optional items.

[rayleo1990]

hi Marcnath,

many thanks for your guidance.
Please suggest me, if i should inject another 25k in to business right now ( 2 months before) and show 50k active DL in the accounts?
This injection of 25k is only to complete my 50k becasue my partners loan 25k is taken back with in one year?
As he is not applying with me, so
can I mark that 50k is already invested on the form and show 50k DL against my name in accounts? what is the best possible way?
My solicitor is asking that I have to put money back in the buss account from personal account to show active DL of 50k?

[marcnath]

I cannot give specific advice and tell you what to do.
I can only help interpret the rules which is what I did.
As per my reading of the rules, if I was in your situation I would not think it necessary to put the money.
Worst case would need to do that if rejected and AR fails.

[rayleo1990]

Hi Marchnath,

I am so grateful for all your suggestion and support towards preparation of my documents.
I am in very tough situation. I am willing to send the app without adding any extra money, but could you suggest me how to adjust my accounts. My accountant told me that Director loan which was fallen short was shown as expenses, but i don't understand why it shows in the accounts notes of firs year
my first year's account doesn't have any notes about DL. 2014-15
my second years' accounts have following notes; 2015-16

Director Loan's amount:
Team member 1: £12479 (2015: 21000)
Team member 2: £1280 (2015: £1280)
both jobs are created in last year....
can you please let me know what shall i show in third year?
will it be ok if i send my accounts for year 1& 2 as it shows above readings...
please advise me best way to get out of this situation...

[rayleo1990]

hi Marcnath and Zimba,

I need your guidance please in preparing my documents!

My solicitor is asking my to create DL again and put the money back in to buss account!
he wants me to do that, because my accountant has shown in the accounts that DL was fallen from 25k to 12k
but my accountant never mentioned anywhere in the accounts note section that we injected 50k.
Now I am applying on my own for extension, and need to complete 50k in buss account.
The trouble i am having that financial year was from july 2016-2015 july, and i have two months to put money in to buss account...Accountant says that he will write DL only in management accounts that there is 50k DL if i put money 25k and 25k from my partner,

do you think there is any problem if my un-audited accounts dont show any notes about my DL... and only management accounts shows DL.....
my business partner is still waiting for his ILR from 5 months.
please suggest what shall i do?

[zimba]

From HO perspective, any unaudited account is acceptable. So managment accounts should be fine

[rayleo1990]

Good Morning Zimba and Marcnath,
Can you please review my documents list which i am planning to submit for my extension?
- Passport Main applicant
- Passport dependent
- Photos x 2 for both applicants
- App Form
- OLD BRP for both applicants
============
Investment of funds proved in Initial application but i am submitting following:
- Cover letter explaining that My Team member is switched to ILR but still waiting for decision
- Un-Audited Accounts (2014-15) (2015-16) (2016-17)
- Management Accounts ( July-17-Oct 17) "Only Management accounts shows 50kDL in the notes, because my accountant messed my accounts and didn't write about 50 in 1st year's accounts"
- Accountant Letter confirming investments for the business and compilation report
- Print out of companies house showing reg address and current appointments report
- Company bank statements for 6 months
- CT41G ( I only have copy of it)
- HMRC letter showing accounts office reference/Paye reference
- Printout from companies house of all Filing History
========--
Job Creation:
Had 2 part time employees and 2 FT. One PT employee left in may 2017, I am planning to send following:
- Copies of passport of 2 FT Employees
- FPS Submissions for 12 months + FPS for months where both FL employee started
- Payslips for both FT employees only ( Some payslips don't show No. of hours worked in month Initial few only)
- Both FT employees are working, so i won't send any record of PT in order to keep app simple
- Accountant letter verifying new posts have been created
====
Maintenance Funds:
- Joint Statements showing 2k for 90 days
===
Language:
- Bachelor's degree

i would really appreciate if you guys could comment or suggest anything which i can add to support.

Thank you very much

[marcnath]

[quote=rayleo1990 post_id=1546185 time=1507627225 user_id=175123]
Good Morning Zimba and Marcnath,
Can you please review my documents list which i am planning to submit for my extension?
- Passport Main applicant
- Passport dependent
- Photos x 2 for both applicants
- App Form
- OLD BRP for both applicants
============
Investment of funds proved in Initial application but i am submitting following: ==> as you said, optional. Personally, I would not include
- Cover letter explaining that My Team member is switched to ILR but still waiting for decision
- Un-Audited Accounts (2014-15) (2015-16) (2016-17)
- Management Accounts ( July-17-Oct 17) "Only Management accounts shows 50kDL in the notes, because my accountant messed my accounts and didn't write about 50 in 1st year's accounts"
- Accountant Letter confirming investments for the business and compilation report
- Print out of companies house showing reg address and current appointments report
- Company bank statements for 6 months
- CT41G ( I only have copy of it)
- HMRC letter showing accounts office reference/Paye reference
- Printout from companies house of all Filing History
========--
Job Creation:
Had 2 part time employees and 2 FT. One PT employee left in may 2017, I am planning to send following:
- Copies of passport of 2 FT Employees
- FPS Submissions for 12 months + FPS for months where both FL employee started
- Payslips for both FT employees only ( Some payslips don't show No. of hours worked in month Initial few only)
- Both FT employees are working, so i won't send any record of PT in order to keep app simple
- Accountant letter verifying new posts have been created ==> optional
====
Maintenance Funds:
- Joint Statements showing 2k for 90 days
===
Language:
- Bachelor's degree ==> optional

Note that CAR document is not just for investment. You need it to prove you were engaged in business at start and at extension

[rayleo1990]

Thanks a lot Marcnath for your valuable input.

[rayleo1990]

Hi Marcnath,

MY team member has successfully switched to ILR
can you please suggest me how to mention in cover letter?
is it compulsory for him to complete 25k DL which was fallen short to 1228£.
i have added 25k towards my share.
my team member is still helping in business and on director's salary?

many thanks

[marcnath]

There is nothing special you need to add in the cover letter. Just state that one of the team members now has ILR.
You need to meet the investment criteria jointly. It does not have to 25K each

[rayleo1990]

Good morning Zimba and Marcnath,

Need some help please. I am about to submit my accounts for last year aug 16-july17.
do i have to sign and post to HMRC in order to show my signatures on the accounts? or can my accountant submit my accounts electronically with electronic signatures, and then i can print/sign and post it to HO when i submit my file

[marcnath]

Good morning Zimba and Marcnath,

Need some help please. I am about to submit my accounts for last year aug 16-july17.
do i have to sign and post to HMRC in order to show my signatures on the accounts? or can my accountant submit my accounts electronically with electronic signatures, and then i can print/sign and post it to HO when i submit my file

No requirement for physical signatures - is that even possible now ?

[rayleo1990]

Dear Marcnath,

Yes, my accountant told me if i print sign and post it to HMRC, it will show my signature on hmrc filing history? i was checking shall i go ahead to submit with electronic signs or do it manually and post it to hmrc>?
your help is highly appreciated

[marcnath]

Dear Marcnath,

Yes, my accountant told me if i print sign and post it to HMRC, it will show my signature on hmrc filing history? i was checking shall i go ahead to submit with electronic signs or do it manually and post it to hmrc>?
your help is highly appreciated

I don't believe it makes any difference.

[rayleo1990]

hi Marcnath,
I hope you are well. I am sure its the same repeated question which i have asked several times, but situation is very confusing.
My solicitor has advised me to recreate the DL Agreement and send it again with the Application for Ext, because my team members money which was withdrawn and DL came down to £1228 in 3 years. He said DL has to be active in accounts notes and has to be 50k collective?
My team member who already switched to ILR, has also added 25k from his Personal acc to Buss account in 5 installments, again in last month, Means His DL will be topped up to 25k in management accounts?
So, our last 3 months management accounts will show 50k investment.
Whats the best approach to handle this issue?

Do you think I should only send my un-audited accounts + management accounts (50K DL) ?
or Should i recreate my DL Agreement and send it again with Personal/business account statements by highlighting transfer which was done at initial application?
The only issue which comes to my mind is that we transferred 50k in our initial application, and our turnover was 21k for 1st year, but my team member withdrew his salary, and Accountant made complete mess by subtracting his DL.
please help me to handle this situation.

[marcnath]

hi Marcnath,
I hope you are well. I am sure its the same repeated question which i have asked several times, but situation is very confusing.
My solicitor has advised me to recreate the DL Agreement and send it again with the Application for Ext, because my team members money which was withdrawn and DL came down to £1228 in 3 years. He said DL has to be active in accounts notes and has to be 50k collective?
My team member who already switched to ILR, has also added 25k from his Personal acc to Buss account in 5 installments, again in last month, Means His DL will be topped up to 25k in management accounts?
So, our last 3 months management accounts will show 50k investment.
Whats the best approach to handle this issue?

Do you think I should only send my un-audited accounts + management accounts (50K DL) ?
or Should i recreate my DL Agreement and send it again with Personal/business account statements by highlighting transfer which was done at initial application?
The only issue which comes to my mind is that we transferred 50k in our initial application, and our turnover was 21k for 1st year, but my team member withdrew his salary, and Accountant made complete mess by subtracting his DL.
please help me to handle this situation.

I have not gone back through the entire post from start, but I suspect you are right - this has been addressed.

Just looking at your initial post, you have already provided the evidence for your investment at the time of the initial application.

As such, the entire discussion in this question is irrelevant. You don't need to submit accounts, you don't need to submit a DL, you don't have to submit bank statements. Just one line in your application or cover letter to say that you are claiming points on the basis that investment was already accepted.

I am totally at a loss as to why you would want to create complications where there are none.

Lesser documents would mean it is easier for the CW to process your application and hopefully make a decision earlier.

So, to your question, the best approach is not to provide any of these documents.

In case they do need more information, they will contact you and you can create all the necessary documents you need at that time.

[rayleo1990]

hi Marcnath,
I am unable to find the NI copy of my second employee? is it compulsory to send it ? or can i only send Employee's British Passport to claim points with FPS and Payslips?

[marcnath]

hi Marcnath,
I am unable to find the NI copy of my second employee? is it compulsory to send it ? or can i only send Employee's British Passport to claim points with FPS and Payslips?

NI document is not a requirement and would probably be ignored even if you found it. Passport or birth certificates are the only valid id for British citizens

[zimba]

hi Marcnath,
I am unable to find the NI copy of my second employee? is it compulsory to send it ? or can i only send Employee's British Passport to claim points with FPS and Payslips?

Why don't you read the guide ??? It tells you clearly what is required. Why guess work ??!

https://www.gov.uk/government/publicati ... trepreneur

[rayleo1990]

Dear Zimba & Marcnath,

can you please let me know which option to choose in this part of the form please?
proof of investment and DL form was provided in initial application being a PSW holder which i applied first?


your help is highly appreciated. Thanks a lot


K3. You must have invested no less than £200,000 (or £50,000 if, in your last grant of
leave, you were awarded points for funds of £50,000) directly into one or more businesses in
the UK. Please tick to confirm how this investment has been made (you may tick more than
one box, where applicable):
1-Part or all of the investment was made in the 12 months (or 24 months if you
were a Tier 1 (Graduate Entrepreneur)) prior to your initial Tier 1 (Entrepreneur)
application, and you demonstrated this investment when you made your initial Tier 1
(Entrepreneur) application;

2- The investment was made during your initial period of Tier 1 (Entrepreneur) leave in
the form of a director’s loan;

3- The investment was made during your initial period of Tier 1 (Entrepreneur) leave in
the form of share capital;

4- The investment was made during your initial period of Tier 1 (Entrepreneur)
leave using funding made available by a Venture Capital firm/a UK Seed Funding
Competition/a UK Government Department;

5- The investment was made during your initial period of Tier 1 (Entrepreneur) leave
directly by you into the business, in cash;

6- The investment was made during your initial period of Tier 1 (Entrepreneur) leave
directly by a third party, but on your behalf.

[marcnath]

Dear Zimba & Marcnath,

can you please let me know which option to choose in this part of the form please?
proof of investment and DL form was provided in initial application being a PSW holder which i applied first?


your help is highly appreciated. Thanks a lot


K3. You must have invested no less than £200,000 (or £50,000 if, in your last grant of
leave, you were awarded points for funds of £50,000) directly into one or more businesses in
the UK. Please tick to confirm how this investment has been made (you may tick more than
one box, where applicable):
1-Part or all of the investment was made in the 12 months (or 24 months if you
were a Tier 1 (Graduate Entrepreneur)) prior to your initial Tier 1 (Entrepreneur)
application, and you demonstrated this investment when you made your initial Tier 1
(Entrepreneur) application;

2- The investment was made during your initial period of Tier 1 (Entrepreneur) leave in
the form of a director’s loan;

3- The investment was made during your initial period of Tier 1 (Entrepreneur) leave in
the form of share capital;

4- The investment was made during your initial period of Tier 1 (Entrepreneur)
leave using funding made available by a Venture Capital firm/a UK Seed Funding
Competition/a UK Government Department;

5- The investment was made during your initial period of Tier 1 (Entrepreneur) leave
directly by you into the business, in cash;

6- The investment was made during your initial period of Tier 1 (Entrepreneur) leave
directly by a third party, but on your behalf.

Box 1