Here are the details of this case which resulted in the 8 year ban.
Mr Daniel Thomas McDermott (“Mr McDermott”) caused Delta Solutions Services UK Limited (“Delta”) to breach the conditions of the Bounce Back Loan (“BBL”) Scheme by obtaining a BBL of £50,000 at a time when Delta had ceased trading and Mr McDermott caused Delta to transfer £40,000 of the BBL funds received to himself and to a connected third party with no economic benefit to Delta contrary to the terms of the BBL scheme.
In that:
- On 25 November 2019 HMRC issued a Notice of Requirement to Provide Security to Delta.
- On 17 February 2020 Mr McDermott spoke to an Insolvency Practitioner (“IP”) about Delta, who agreed to Liquidate the company.
- On 20 February 2020 HMRC issued a Warning of Winding Up letter to Delta.
- On 02 March 2020 HMRC wrote to Delta in relation to the Notice of Requirement to provide security of £65,342, informing Delta that it was a criminal offence to continue to trade without providing security, and if security was not provided within 14 days HMRC would consider a criminal investigation.
- On 2 March 2020 Mr McDermott signed an engagement letter instructing the IP in relation to Delta.
- On 06 March 2020 Mr McDermott spoke to HMRC on the telephone, and he informed them that Delta had ceased trading a month ago.
- On 06 May 2020 Mr McDermott signed an application for a BBL of £50,000, confirming that Delta was engaged in trading or commercial activity at the date of the application.
- The loan monies were paid into Delta’s bank account on 11 May 2020.
- On 15 May 2020 Mr McDermott caused £20,000 of the BBL monies to be transferred to himself, and a further £20,000 to be transferred to a connected third party.
- Delta entered Liquidation on 08 June 2021 with liabilities totalling £136,788.
