What Happens If a Sole Trader Goes Bankrupt and Has a Bounce Back Loan BUT Used It for Personal Benefit, Over Egged Their Turnover or Got One When Not Eligible For One – Take a Look at These Recent Cases and the Outcomes of Them
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Watch Your Backs
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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