Name: Yasir Rehman

Name: 381 IT Solutions Ltd

Date of Birth: 2 / 7 / 1981

Date Order Starts: 31 / 10 / 2025

Disqualification Length: 11 Years 0 Month(s)

CRO Number: 09412341

Last Known Address: 85 Trittiford Road, , , , BIRMINGHAM, B13 0ES

Conduct: Yasir Rehman (“Mr Rehman”) breached the terms of the Bounce Back Loan (“BBL”) scheme by causing 381 IT Solutions Ltd (“381”) to overstate its turnover on its application for a BBL, resulting in the company receiving a BBL of £50,000 when he knew, or ought to have known, 381 was not eligible for a BBL, in that: • The BBL scheme terms allowed businesses to receive a loan of up to 25% of their annual turnover for the 2019 calendar year, which the applicant would self-certify when completing the BBL application.   The BBL was to be used only for the economic benefit of the business, used wholly for business purposes and not personal purposes. • If a company was established after 01 January 2019, they were allowed to estimate the company turnover from the date the company started to trade. • 381 was incorporated on 29 January 2015. • Mr Rehman declared on the company’s BBL application form an annual turnover of £210,350, and consequently on 22 May 2020, 381 received a £50,000 BBL. • Annual accounts for FYE 30 January 2019 show a declared turnover of £320, and annual accounts for FYE 30 January 2020 show a declared turnover of £0. • This would have meant that 381 would not have been eligible to apply as they did not have the minimum turnover of £8,000 required to be eligible for the minimum BBL. • The overstatement of turnover meant that 381 received £50,000 more than it was entitled to from the BBL scheme. • At least £48,398.25 of the BBL funds were not used for the economic benefit of 381. • 381 entered Creditor’s Voluntary Liquidation on 05 July 2023. • At liquidation, 381 had liabilities totalling £77,016.11, of which £50,835.96 was owed to the bank in respect of the BBL.  

This information is correct as at 10 / 10 / 2025

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