Closing company down with bounce back loan - success

[Ian J]

We have the power to fight and make the gov use their 100% guarantee promise. HMRC has always used fear to make people comply due to limited resources.

You keep on about HMRC this and HMRC that but what does any of this have to do with HMRC?

The government guarantee is in favour of the lender not the borrower but the lender has to do everything in their power to recover the loan before calling in the guarantee.

You claimed above in response to my post "so you think everyone that cannot afford to pay back BBL due to covid is a scammer?" No I don't but I have concerns about someone who claims to be a contractor therefore probably not having any legitimate business expenses and whose BBL loan therefore probably disappeared into his own pocket which isn't a genuine business purposes anyway.

Did you also claim furlough?

 

[UK Contractor Accountant]

I have no idea what your argument is.

You can get your company struck off with a BBL and even get the guarantee actioned.

All that doesn't stop you being investigated, getting a Director ban and prosecuted to get the fraudulent use of BBL funds repaid.

 

[zeus70]

I have no idea what your argument is.

You can get your company struck off with a BBL and even get the guarantee actioned.

All that doesn't stop you being investigated, getting a Director ban and prosecuted to get the fraudulent use of BBL funds repaid.

This thread is for people who think they were mis sold the bouce back loans, as i was, and then using that argument against the lender and hmrc to get it written off. part of this process is to close down your ltd company. If you don't get the point, thats fine, only people who feel some wrongdoing here will get what i am saying.

hmrc always had powers to ban you as director, and investigate you so nothing has changed there.

 

[Ian J]

hmrc always had powers to ban you as director so nothing has changed there.

I think that you'll find that you are wrong yet again as it's the Insolvency Service that has the power to ban rogue directors not HMRC

 

[UK Contractor Accountant]

Are you arguing that the helicopter money was dropped into company bank accounts for Directors to take out as dividends didn't count for furlough calculations?

 

[zeus70]

Are you arguing that the helicopter money was dropped into company bank accounts for Directors to take out as dividends didn't count for furlough calculations?

If all you say is true, the goverment will not need to write off any BBL. Lets just wait and see what this figure is, and the number of people who dont pay as they feel it was mis sold. i think you will be surprised it is more than just 1 person.

 

[ecommerce84]

I’d be astonished if many people thought a bounce back loan was a grant.

What did you spend your grant on out of interest?

 

[zeus70]

I’d be astonished if many people thought a bounce back loan was a grant.

Over 900 private emails now, so definitely a lot of people thought as this was 100% gov backed, it was effectively a grant. My hope is the gov writes these off, and no one needs to go and argue they were mis sold a financial product that was marketed like a grant.

 

[kulture]

This is going round in circles. A loan is a loan. Anyone who deliberately took out a loan with no intention of paying it back deserves to be chased for the debt. Anyone stupid enough to brag about it on a public forum is hopefully even more likely to be hounded by HMRC.

 

[kulture]

I can see no point in continuing this thread