tier 1 entrepreneur extension application

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

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

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

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

Investment of funds

Previous investment of £200,000; Investment must be made less than12 months before application;

Evidence not required for extension applications;

Investment of FundsEvidence

Audited accounts; Unaudited accounts and accountants certificate; Directors Loan;

Legal third party agreement; Unsecured and subordinated in favour of third parties;

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

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

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;

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;

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;

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

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;

Maintenance

£945 for a minimum of 90 days; £1890 or £630 for dependants

Thank you for your audience

Contact

Tel: 02035407770Email: info@reissedwards.comWeb: https://www.reissedwards.com