Read on for the details of this case.
On 08 July 2020 Maria Solenir VIEIRA DA SILVA (“Mrs Vieira Da Silva”) caused or allowed Rio Property Maintenance Limited (“Rio”) to obtain a £50,000 Bounce Back Loan (“BBL”) which was more than it was eligible for, by providing misleading information about its relevant turnover.
In that:
- Under the BBL scheme a business that was established before 01 January 2019 could apply for a loan of 25% of its turnover in the 2019 calendar year, up to a maximum of £50,000
- Rio was incorporated on 03 February 2015 and was dormant until 2018
- On 08 July 2020 it applied for a £50,000 BBL, declaring a turnover of £202,321, and £50,000 was received on 08 July 2020
- Rio’s accounts for the year to 28 February 2019 show a turnover of £83,844 and the accounts for the year to 29 February 2020 show a turnover of £81,300 and Rio’s bank statements suggest that its 2019 calendar year turnover was approximately £84,000 which would have entitled the company to a BBL of £21,000.
- Rio went into liquidation on 30 June 2022 without having made any BBL repayments.
