January 2022 - Page 9 of 11 - Mr Bounce Back - Bounce Back Loan News - Updates

Co-Operative Bank Approve and Pay Out a Bounce Back Loan to a Customer Then Snatch It Back – Ben the Ombudsman Decides That Is Their Right and £100 Compensation Is Fair

January 8, 2022

It was and still is commonplace for many lenders to snatch back (for all manner of reasons) Bounce Back Loans that they had initially approved and paid out, and today I present to you the outcome of a complaint about a snatched back BBL that was sent to the Financial Ombudsman Service (FOS), was not upheld, and then went before an actual Ombudsman for a determination. Be aware that when you do send in a complaint to the FOS it is a caseworker that […]

Government Delivers £700 Million Funding to Local Authorities – Do Not Let Them Blag You – If You Qualify for the Next Round of Business Grants Apply for One

January 7, 2022

Businesses most impacted by Omicron variant to benefit from over £700 million as government delivers funding to local authorities. Small Business Minister Paul Scully has confirmed to me your local council will have the cash […]

Press Release – HMRC Gives Self Assessment Taxpayers More Time to Ease COVID-19 Pressures

January 6, 2022

Late filing and late payment penalties are to be waived for one month for Self Assessment taxpayers. HM Revenue and Customs (HMRC) is waiving late filing and late payment penalties for Self Assessment taxpayers for […]

Business Owner Faced a Five Month Delay Opening an Account with HSBC Due to Staff Being Deployed Processing Bounce Back Loans – Ombudsman Thinks the £200 Already Offered Is Fair Compensation

January 6, 2022

I recall many people being sent out cheques by HSBC for delays and/or problems experienced by customers during the time Bounce Back Loans were available with that bank, and people often got sent them out of the blue, such as the one shown […]

Massively Over-Egging His Business Turnover and Using a Bounce Back Loan for Personal Benefit Resulted in a Company Director Receiving a 7 Year Disqualification

January 5, 2022

The two most common reasons why a Company Director will end up with a lengthy disqualification when winding up their business with a Bounce Back Loan owing are using that loan for personal benefit and over-egging the turnover of the business to get the loan in the first place. Both of which it appears the Director in this case was guilty of doing […]