MRS Tahira RIFFAT

Disqualified from

2024-11-08

Date of birth on record

June 1990

Tahira Riffat (“Mrs Riffat”) breached the terms of the BBL scheme by causing TRZ Limited (“TRZ”) to overstate its turnover on its application for a BBL. As a result, TRZ received a BBL of £45,000 and top up of £5,000 when Mrs Riffat knew or ought to have known that TRZ was not eligible for loans of that amount, in that, • Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure was self-certified by the applicant. The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover. • TRZ was incorporated on 19 December 2018. • TRZ’s Year End accounts 31 December 2019 show a turnover of £103,325. • Mrs Riffat applied for a BBL of £45,000 on behalf of TRZ declaring that its turnover for the calendar year 2019 was £250,000. • On 11 May 2020, TRZ received a BBL of £45,000. • On 13 November 2020, Mrs Riffat applied for a BBL top up loan of £5,000 on behalf of TRZ. • On 19 November 2020, TRZ received a BBL top up of £5,000. • Based on TRZ’s 2019 annual turnover the company was eligible to apply for a BBL of £25,831. • The overstatement made in TRZ’s application resulted in the company receiving a BBL that was £24,169 more than it was entitled to from the BBL scheme. • Total liabilities at liquidation amount to £354,973of which £46,867 relates to the amount owed in respect of the BBL.