In this section of the website you will discover over 2400 defaulted Bounce Back Loans, along with the Company and Directors / Sole Traders names, all of whom received some form of punishment (also revealed) as it was found each of them had abused the BBL scheme in one way or another. Grab a coffee, but please do not choke on it, as you read them, for some of the BBL associated skulduggery is quite shocking.
Insolvency Service Unable to Determine if a Starling Bank BBL Was Obtained Legitimately and Why Company Was Not Registered for VAT Given Director Applied for a £50K BBL Requiring a Minimum £200k Turnover – Upshot 7 Year Disqualification
Due to not keeping/preserving adequate accounting records has resulted in a Company Director being disqualified for 7 years, mainly due to the fact the Insolvency Service could not work out if a Starling Bank BBL was used for the benefit of the company, and they question why the company was not registered for VAT when a £50k BBL was obtained, with the turnover for that value loan having to be at least £200k. […]