One of my clients has just told me they have applied for and received £50k under the bounceback scheme.
At today they have some £500k in the bank and don't need it but he said (he is in construction) "all my friends/suppliers have had one so i did in case i need it when the recession kicks in and the loans won't be around forever they will change teh scheme very soon"
I can "sort of" see his logic but is it right? Technically he has been impacted by the Coronavirus as he shut down on 25th March but has now restarted so is eligible. BUT is it right? Would it be right for say a law firm or accountancy practice to claim one and cite "drop off in house completions so fees down" or "i am doing work for my clients FOC who are in need" and then say you are eligible?
This client asked me why i hadn't claimed one as it is cheap/free money - i said i didn't feel it was right. His response was "you will regret it - you will never get the chance for cheap money again - enjoy it while it lasts"
Have others had clients taking advantage when not needed and what do we feel about this??