It was reported last year that taxpayers face a bill of around £26bn because of fraud and defaults with Bounce Back Loans (BBLs).
Very few checks were carried out when the bank were distributing the BBLs. Banks are now being proactive and where they suspect the BBL has been fraudulently obtained, they are freezing bank accounts.
If you or your business is affected by Covid-19, please give Stella a call and she will arrange a virtual or face to face meeting with one of our insolvency professionals. We have offices in Driffield, Grimsby Hull, Scunthorpe and York.