[filan01]

Hello All,

Ive made my application and just waiting on the outcome, everything seems to be in order so hopefully all goes well.

A question - For exstension requirements, it says that the 200k cant be put forward as a Directors Loan. But when you are putting the 200k in over the 3 year period wht do you put it in as.

Because its a loan to the business ? I will be doing Sole trader anyway, But when I put in my dollars each time to pay bills or buy stock etc, how do they want me to present that. Or are we simply not allowed to pay this money back to ourselves at some stage ?

Any ideas

[IOMBusinessPerson]

filan01, on 13 August 2009 - 05:16 AM, said:

Hello All,

Ive made my application and just waiting on the outcome, everything seems to be in order so hopefully all goes well.

A question - For exstension requirements, it says that the 200k cant be put forward as a Directors Loan. But when you are putting the 200k in over the 3 year period wht do you put it in as.

Because its a loan to the business ? I will be doing Sole trader anyway, But when I put in my dollars each time to pay bills or buy stock etc, how do they want me to present that. Or are we simply not allowed to pay this money back to ourselves at some stage ?

Any ideas

Good question.
I think you should read the Policy regarding Extensions:

http://www.ukba.home...ying/extension/

What basically these guys are after is your audited accounts, so you def can take salary if you got more than £200k but just talk to an accountant and ask him how to get audited accounts for your business, that is basically what they are after in terms of "Investment".

Thank god I am no longer needing their Visas, thank god for that!!!! (Well, let's wait 4 weeks until I finally have my EU Passport in my hands)