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Insolvency Service provides update on tackling coronavirus (COVID-19) loan abuse

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Published on: 24 July 2024

Published by LNB News

LNB News 24/07/2024

Document Information

Issue Date: 24 July 2024

Published Date: 24 July 2024

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Insolvency Service has published an update on the work being done to tackle coronavirus (COVID-19) loan abuse. According to the Insolvency Service's Annual Report and Accounts for 2023-24, more than 830 directors have been banned following abuse of coronavirus loans, steps have been taken to recover almost £3m of taxpayers' money and 22 criminal prosecutions were carried out. The report also confirms that work will continue in the 2024-2025 period

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