CAN I TRANSFER MY FUNDS IN BUSINESS ACCOUNT AND START USING

[SAM8683]

Hi guys,

I applied for tier 1 on august, gave interview on oct 7th and now waiting for the answer. During the interview I also provided them with updated bank statements and all, my 50k was in my personal account then.

I was wondering if I can transfer my 50k into my bank account and use it as I need money for business as I have already started trading.

Will they create a problem for me if i move my money?


What are your views?

[SHAIKH9870]

Hi guys,

I applied for tier 1 on august, gave interview on oct 7th and now waiting for the answer. During the interview I also provided them with updated bank statements and all, my 50k was in my personal account then.

I was wondering if I can transfer my 50k into my bank account and use it as I need money for business as I have already started trading.

Will they create a problem for me if i move my money?


What are your views?

Wait

[Darvesh]

if ur will business running well then why keeping money in personal account rather transfer it into business account and start using it.

[Olasunkanmi]

@ SAM8683, if you can raise another cash, then you can leave the 50k in your personal account and then put the extra cash into the business account for your trading activities.

Normally, you should be able to transfer your fund into your business account and continue your trading, but due to the recent way the caseworkers are treating applications, one need to be careful and not give them the excuse to refuse application.

[SAM8683]

Hi guys,

Thanks for your answer, The thing is when i asked my consultant he said i could move funds, I am getting business but to proceed with it i need to invest money in in order to get the supplies.

If these people dont give us visas in time, i might loose my client, I dont have enough money in my personal account which can support me and the business.

I am sooo confused and getting so frustrated, These people dont care about us, they play with our lifes,

[Olasunkanmi]

If you require the whole 50k for use in your business, then move it to your business account, but make sure you ask your accountant to prepare a director's loan agreement for you as that will be the evidence you need in-case HO ask any question about the transfer of fund.

[rehan01]

agreed ...... invest if needed but maintain proper documentation just incase if needed.

regards

If you require the whole 50k for use in your business, then move it to your business account, but make sure you ask your accountant to prepare a director's loan agreement for you as that will be the evidence you need in-case HO ask any question about the transfer of fund.