Bounce back loan advice?

lostinspace00

Hi all, unfortunately I made a critical error filling in my 18-19 tax return (I started completing the return for these years and saved it to return but as I completed and submitted after 06/04/20 it submitted the return as 19-20). HMRC said sorry 23/04 was the cut off for self employed support and there was nothing they could (apart from fine me for late return!!) 
This put the business on its knees and j have since been rejected for a bounce back loan and no other lenders are accepting applicants from what I can see. 

My question does anyone know a lender accepting applications? 
Any other support I may be able to get? 

Thanks in advance for any help. 

Grumpy_chap

Why were you rejected for BBLS? 
The eligibility criteria are not exactly the same as for SEISS.

lostinspace00

I didn't contact HMRC until after 23/04/20 as I thought that I would be accepted as I've been trading since 2013 and when checking online was surprised that I wasn't - and then queries why. 

Grumpy_chap

HMRC do not give BBLS.
Did you apply to your regular business bank?

lostinspace00

Grumpy_chap said:

Why were you rejected for BBLS? 
The eligibility criteria are not exactly the same as for SEISS.

It was with Barclays and they couldnt give a reason. Just that that what's the system had advised from their end and as it was a straight decline (I think without any advisory) it couldn't be challenged. Again I've had my business acc with the since 2013 and my personal acc for life. Just got an apology and told that was that, nothing they could do. That was after 4 weeks of waiting for a callback and I had to chase. The whole thing has left a sour taste but I'm more concerned about trying to resolve the situation if I can - even with another lender. Everywhere I look seem like they won't accept new applicants. 

Grumpy_chap

Something seems wrong or missing from your account of events.
I assume you never stopped trading?
Did you make an error in the application?
My BBLS with Barclays went smoothly enough.

lostinspace00

That's as full of an account as I can give! Never stopped trading! Our trading levels drop off around November to February but this is every year and nothing to do with covid. The must frustrating thing was Barclays couldn't and wouldn't tell mewhy. No option to appeal etc 

lostinspace00

No error in application that I know of or was told about and have copies of a320 etc for 19-20 per criteria 

Jeremy535897

The applications back in March for sole traders usually required a self assessment tax return for 2018/19 to be filed, and this may have been why the original application was rejected.

Grumpy_chap

I am not sure how the incorrect filing actually works, what impact that would have had (though Jeremy gives a suggestion), but I assume the OP has now filed the correct return.

The OP has been sole-trader since 2013.
The OP has personal bank account with Barclays.
The OP has separate business bank account with Barclays.  Assume this is a proper business account and not a second personal account just used for business transactions.

For reasons that are unknown, Barclays declined the BBLS application.
Given the OP was "straight-off-the-bat" in making the application early, there may have been elements of the bank procedure at that time that are now refined.
It is unlikely the OP would now be successful in making an application through a different lender.

All I can suggest the OP can do is to arrange a meeting / call with their Business Banker who may be able to give information now about why the application was declined, or advise other routes.  It may be possible to explain to Barclays about the incorrect tax return filing (which is now corrected I assume) and Barclays may allow another application to be submitted.  The OP needs to be careful that the previous application does not show as "live" anywhere as it is not allowed to have two BBLS applications together.

lostinspace00

Thanks for the suggestions. Barclays still refuse to advise why their was a decline. Hopefully can get accepted for grant 4 but won't hold my breath! 

HMRC not Intertested in any change to the original grants despite the fact it was just an admin error they couldnt amend the cut off date. 
Thanks for the input.