Concise Accountancy

Accountants and Registered Auditors

COVID news updateLatest news

Tier 1 Entrepreneur visa

In response to the COVID 19 outbreak, the UK Government has issued guidance for UK visa applications including Tier 1 Entrepreneur visa.

Temporary relaxation rules for a foreign entrepreneur

There is some relaxation for existing Tier 1 entrepreneur visa holders. Foreign Entrepreneurs running businesses in the UK are required to hire 2 staff for 12 months consecutively.

Staffing requirement relaxed

If you are a Tier 1 visa holder, and your business is affected by the coronavirus outbreak, you no longer need to employ at least 2 people for 12 consecutive months.

The 12 month period you are required to employ someone for can be made up of multiple jobs across different months.

Furloughed staff will not count

Your staff during the furloughed period, will not count towards the 12 month period. Your furloughed staff is not allowed to work for your business during the furloughed period. But, your staff can work for other businesses and/or volunteering.

The Coronavirus Job Retention Scheme is changing from 1 July 2020. You can bring back your staff to work for you for any amount of time and any shift pattern while your staff still under the Coronavirus Job Retention Scheme grant for their normal hours not worked. This is great news for your business.

Temporary extend your stay

If you have not been able to employ staff for 12 months by the time your visa expires, you will be allowed to temporarily extend your stay. This will give you time to meet the requirement.

These arrangements will continue for applications made after 31 May 2020, where the jobs you are relying on were disrupted due to coronavirus.

Other help and support for businesses

You can take advantage of the help and support available to UK businesses from Companies House during the COVID-19 outbreak for your legal filings.

Extend company accounts filing deadline

You can apply to extend your company accounts filing deadline with Companies House for an additional 3 months without penalty. For example, if your company account is due on 30 June 2020, you shall apply for the extension now. It only takes a few minutes to apply online.

However, this extension does not apply to the filing of your confirmation statement. In other words, you must submit your confirmation statement within 14 days when it becomes due.

Interim paperless filing service

You can use the interim paperless filing service to upload your company or LLP’s documents to Companies House. For example, if you submit the Companies House Form RP06 Application for removal of material about
directors who have not consented to act via this interim paperless filing service.

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