tier 1 entrepreneur extension application
TRANSCRIPT
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Tier 1 Entrepreneur (extension)
75 points for attributes 20 points – Investment of funds;
20 points – Registration with HMRC or Companies House;
20 points – New business or existing – creation of 2 new job posts;
15 points – Date less than 3 months registered with HMRC or Companies House;
10 for English language 10 maintenance
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Switching
Tier 1 (General); Tier 1 (Investor); Tier 1 (graduate Entrepreneur); Business person; Innovator; HSMP; Work permit Holder; Tier 2;
Self employed lawyer; Writer composer or artist; Investor; International Graduate Scheme; Fresh Talent: working Scotland
scheme; Prospective Entrepreneur; Visitor carrying out activities as a
prospective entrepreneur
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Specific Funding (50k)
Former Tier 1 (Graduate Entrepreneur):
Switching; Last granted leave as a Tier 1
(Entrepreneur; Funding from any source
Former Tier 1 (Post-study) migrant: Switching; Last granted leave; Registered as a director 3 months
prior to submission; Working on a job on the list of
occupations at NQF Level 4 or above;
Personal funds/ venture capital firm
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Specific Funding (50k)
Former Tier 1 (General) migrant: Switching; Last granted leave; UK Entrepreneurial seeding funding
competition endorsed by UKTI; UK government department funding
expansion of a UK business; Funding from venture capital firms if you
have been running 1 or more businesses pre 6th April 2015;
NQF level 4 pre 6th April 2015; Cannot include own funds/third party
funding
Former Student; UK entrepreneurial seed funding
competition endorsed by UKTI; UK government department making
funds available for setting up/expanding a UK business;
Cannot use own funding/third party funds of venture capital firm
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Investment of funds
Previous investment of £200,000; Investment must be made less than12 months before application;
Evidence not required for extension applications;
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Investment of FundsEvidence
Audited accounts; Unaudited accounts and accountants certificate; Directors Loan;
Legal third party agreement; Unsecured and subordinated in favour of third parties;
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Investment in a UK Business
Type of BusinessBusiness Premises in the UK
Business has a UK bank account of which the applicant is a signatory
Self-employed entrepreneursHMRC registration
Personal bank statements showing transactions
orBusiness bank statements
orBank Letter
Directors of CompaniesPrintout of Companies House document showing the business address
Company bank accountor
Bank letter
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Investment in a UK Business
Type of BusinessBusiness must be subject UK taxation
Self EmployedMust be registered as self employed for NI contributions
Directors of CompaniesBusiness must be registered for corporation tax
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Registration with HMRC/Companies House
Within 6 months of entering route; Registration with Companies House after 8 months;
Evidence of current registration: Self employed – HMRC document or bank statement showing NI payment; Directors of Companies –
Current appointment report from Companies House; Current registration – printout within 3 months of submission;
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Creation of 2 job posts
2 (extra) full time posts: Settled people; Minimum of 12 months each; 30 hour working week; Self employed applicants – employ separately; Directors of Companies – Business has created 2 posts; Part time posts; Post 6 April 2014:
2 separate jobs for a minimum of 12 months each;
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Further Extensions
Not required to demonstrate 2 job posts; If posts from initial leave no longer exist, proof must be provided; Pre 2014:
1 worker – 24 months; 1 worker for 6 months, 1 for 18 months; 4 workers for 6 months each;
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Job Creation - documents
Hourly rates; Settled workers; Evidence of PAYE – Real Time Full Payment Submissions; Payslips; Directors v Self employed - Companies House Report and Employee
payment report; Existing businesses – Creation of 2 extra posts after the applicant
joined; Accountants letter verifying posts created
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English Language Requirement
UK Degree or Degree taught in English; Relevant English Language test (post 6th April 2015); English Language tests on or before 5th April 2015 – Appendix O;
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Maintenance
£945 for a minimum of 90 days; £1890 or £630 for dependants
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Thank you for your audience
Contact
Tel: 02035407770Email: [email protected]: https://www.reissedwards.com