Tier 1 (investor) extension applications - about audited accounts or accounts compilation report

The request was successful.

Dear Home Office,

Based on the latest version (04/17) of Guidance on application for UK visa as Tier 1 Investor, the page 35 records a requirement of supporting materials for extending tier 1 investor, as shown:
Accounts: The latest audited annual accounts of the organisation in which the investment has been made must meet statutory requirements and must clearly show:
• the amount of money you hold in the investments;
• your name and/or that of your husband, wife, civil partner, unmarried partner or same-sex partner; and
• the date of your investment.
If the organisation is not required to produce accounts, we will consider an accounts compilation report from an accountant. The report must show the amount of money held in the investments.

Considering three eligible investments of UK government bonds, share capital or loan capital in active UK companies in this visa programme, my question will be:
Does the requirement for audited accounts or accounts compilation report only apply to the loan capital investment? Or does the requirement apply to all the three kinds of eligible investments?
If the requirement applies to UK government bonds as well, whether an accounts compilation report can be seen as a report produced by a licensed accountant based on investment portfolio reports? It seems no audited accounts could be produced for UK government bonds holders who servied by stock brokers.

In addition, the page 45 and 46 record:
Portfolio

A20.A portfolio of investments is a collection of investments all owned by the same person. Financial institutions measure the performance of the funds under their management. A report is usually made every quarter and will show a percentage change compared to the previous quarter. My question is :
Is this a quarter-based a requirement?
Whether half-year based reports rather than quarter-based ones are still accepted as supporting materials?

Yours faithfully,

frank

Business Helpdesk, Home Office

Dear Frank,

Thank you for your email.

Please see the response from our policy team....

Question 1:

The Rules require the portfolio to be accompanied by account information for investments made as loan funds:

65-SD(a)(vii) for investments made as loan funds to companies, be accompanied by audited accounts or unaudited accounts with an accounts compilation report for the investments made, giving the full details of the applicant’s investment. The accountant must have a valid licence to practise or practising certificate and must be a member of the Institute of Chartered Accountants in England and Wales, the Institute of Chartered Accountants in Scotland, the Institute of Chartered Accountants in Ireland, the Association of Chartered Certified Accountants, or the Association of Authorised Public Accountants, the Chartered Institute of Public Finance and Accountancy, the Institute of Financial Accountants, the Chartered Institute of Management Accountants, or the Association of International Accountants;

Question 2:

The guidance only states that reports are "usually" made every quarter. The Rules do not require quarterly reports.

Kind Regards

Scott Hoare | Business Helpdesk | Home Office | Vulcan House - Iron | Sheffield | S3 8NS |
[email address]
Accredited to the Customer Service Excellence standard

show quoted sections