£50K Interest Free Loan for 12 Months

[elsergiovolador]

Clearly they need to take on some outside-IR35 contractors.

They seem to assess a particular individual, not the company and their practices, so there is a claim that a substitution in this scenario is unlikely and it is impossible to work "outside".

That clearly demonstrates this is not a tax problem, but discrimination of certain types of business.

[oliverson]

Sounds more like a bug to me.

Never assume malevolence when incompetence would serve as a reasonable explanation of the evidence.

Of course, if Barclays has never ever been incompetent then it must be malevolence after all. Seems like they just might have some incompetence somewhere in their history.

yeah, probably some .NET (or similar) code in there that's expecting a single director:

var director = customer.Directors.SingleOrDefault(...); // throws an exception if there's more than one - BOOM!

[elsergiovolador]

yeah, probably some .NET (or similar) code in there that's expecting a single director:

var director = customer.Directors.SingleOrDefault(...); // throws an exception if there's more than one - BOOM!

Maybe they need to buy a license for their software to support more directors.

[jamed]

Dividends are paid from profits.

Well technically from reserves but yes you might have the reserves but not the cash. And as they state it you don’t have the reserves then it will need to be a directors loan, which in my opinion is actually a more conservative option if you are unsure what the companies long term prospects are.

[northernladuk]

Well technically from reserves but yes you might have the reserves but not the cash. And as they state it you don’t have the reserves then it will need to be a directors loan, which in my opinion is actually a more conservative option if you are unsure what the companies long term prospects are.

We are well aware of that. I'm sure most of us think you are wrong and most accountants wouldn't condone this approach either but you go for it.

[CosmicWave]

Now, they have changed the error message to something different, I suppose due to all the outcry on the twitter handle and BBC etc.

The message now says to teh effect of... either there are more than 1 director/signatory in the account which means you may not be able to get the loan, or your information might be not up to date with us and we are trying to write letters to everyone having business accounts and once that process is complete in the next few weeks, you can check back here in our page updates.

Also, when it loaded up my business name (with the radio button next to it) where it also has this "Next" button, I saw a red message text appear briefly for a second and then vanish from the page.
The google chrome is showing a lot of errors in the page, likes of ...

TypeError: Cannot read property 'totalExistingBorrowing' of null
at bil-rolb.js:2
at angular.js:8113
at F (angular.js:11573)

Index out of range etc on account.sumTotal.... etc. etc.

Has anybody banking with them when applying to this Bounce back loan page seen that red coloured message(s) appear in their loan page (just above the company name radio button section) please? It is freaking me out.

Forget the loan, I just want my existing account balances to be safe with them with this level of code errors going on.

[oliverson]

Now, they have changed the error message to something different, I suppose due to all the outcry on the twitter handle and BBC etc.

The message now says to teh effect of... either there are more than 1 director/signatory in the account which means you may not be able to get the loan, or your information might be not up to date with us and we are trying to write letters to everyone having business accounts and once that process is complete in the next few weeks, you can check back here in our page updates.

Also, when it loaded up my business name (with the radio button next to it) where it also has this "Next" button, I saw a red message text appear briefly for a second and then vanish from the page.
The google chrome is showing a lot of errors in the page, likes of ...

TypeError: Cannot read property 'totalExistingBorrowing' of null
at bil-rolb.js:2
at angular.js:8113
at F (angular.js:11573)

Index out of range etc on account.sumTotal.... etc. etc.

Has anybody banking with them when applying to this Bounce back loan page seen that red coloured message(s) appear in their loan page (just above the company name radio button section) please? It is freaking me out.

Forget the loan, I just want my existing account balances to be safe with them with this level of code errors going on.

sounds like a case of 'plenty cheapness' [nod, nod, nod]

[andydd68]

Applied at Barclays and got it..was quite painless and quick, (note my personal credit rating is pretty awful).

Andy

[ladymuck]

Still waiting on HSBC.

They say they will issue a decision 'in a few days' which is not exactly helpful. It'll be interesting to see the turnaround timescales from each bank: submission - confirmation - cash in account

[andydd68]

Still waiting on HSBC.

They say they will issue a decision 'in a few days' which is not exactly helpful. It'll be interesting to see the turnaround timescales from each bank: submission - confirmation - cash in account

My confirmation was immediate but havnt got the cash yet..says it will be a day.