New Tax Rules Could Grant HM Revenue and Customs (HMRC) Expanded Powers to Monitor and Access Bank Accounts, Sparking Concerns for Savers But Could Uncover Bounce Back Loan Misuse
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Corruption Commissioner
HMRC, Cabinet Office and the Department of Business and Trade Have Now Flagged Bounce Back Loan Recipients Whose Actual Turnover Didn’t Match Their BBL Application and/or LTD Companies Who Were Not Registered for VAT But Declared a BBL Turnover Figure That Required VAT Registration