How to invest my bounce back loan?

TBC15

I’d probably keep half of it back for legal representation.

Imvrasos

As a PAYE employee who worked full time during the pandemic, I feel inspired to hear my tax contributions help fund the crypto and other investments of the nation's entrepreneurs.

Albermarle

Imvrasos said:

As a PAYE employee who worked full time during the pandemic, I feel inspired to hear my tax contributions help fund the crypto and other investments of the nation's entrepreneurs.

Even more inspiring to hear of the Billions lost forever to fraudulent claims .

YellowStarling

Albermarle said:

Imvrasos said:

As a PAYE employee who worked full time during the pandemic, I feel inspired to hear my tax contributions help fund the crypto and other investments of the nation's entrepreneurs.

Even more inspiring to hear of the Billions lost forever to fraudulent claims .

This is the second time you’ve attempted this line of argument. Just because some borrowers were fraudulently claiming from the off, doesn’t excuse other borrowers keeping the loan they’ve realised they don’t really need. They’re just two versions of wrong, but still wrong.

london21

Use the money for business purposes.
If not needed, pay it back.
If you choose to invest, the value of your investment will rise and fall, so you could get back less than you put in.

grumiofoundation

Albermarle said:

Imvrasos said:

As a PAYE employee who worked full time during the pandemic, I feel inspired to hear my tax contributions help fund the crypto and other investments of the nation's entrepreneurs.

Even more inspiring to hear of the Billions lost forever to fraudulent claims .

As above this doesn’t justify the OPs abuse of the system though (if anything I would argue the opposite). 

Albermarle

grumiofoundation said:

Albermarle said:

Imvrasos said:

As a PAYE employee who worked full time during the pandemic, I feel inspired to hear my tax contributions help fund the crypto and other investments of the nation's entrepreneurs.

Even more inspiring to hear of the Billions lost forever to fraudulent claims .

As above this doesn’t justify the OPs abuse of the system though (if anything I would argue the opposite). 

It wasn't meant to justify anything . It was just a comment on the cavalier way that Billions of taxpayer money was wasted .

Malthusian

Imvrasos said:

As a PAYE employee who worked full time during the pandemic, I feel inspired to hear my tax contributions help fund the crypto and other investments of the nation's entrepreneurs.

I am also a PAYE employee who worked full time throughout the pandemic, and for me it falls into the same box as lower tax rates for the self employed, limited liability incorporation, bankruptcy protection, EIS relief, greater flexibility for tax planning, etc etc - i.e. "necessary measures to encourage a flourishing self-employed sector, rather than have everyone working for the government or massive corporations or the black market". Some of those measures are inevitably exploited (especially limited liability and bankruptcy protection) but the overall benefit to society is clear.

To paraphrase the old line about miscarriages of justice, better for ten self-employed people to get a loan they could have managed without than for one person to be ruined as a result of the government's social experiments.

The OP is going to pay their loan back eventually so the "loss" to the taxpayer is purely yield opportunity cost; the loss of the potential return if the government had invested the money in something else and spent the potential return instead. Which could easily have been negative.

Even if that loss exists, it will almost certainly be more than covered by the OP's net tax contributions, based on the figures in his post.

The self-employed kept the economy going during the pandemic while the rest of us sat at home and baked bread or played with our children, I really couldn't care less if some of them pay back their bounce back loans in accordance with their terms instead of slightly earlier.

This assumes of course that the OP complies with the terms in the loan, but that's for them to work out with their accountant. There is nothing wrong with them investing their own money while using the bounce bank capital to fund the business, rather than cutting their drawings so they can pay the loan back earlier.