Cook the pasta in a large pan of well salted boiling water until al dente.
Meanwhile, heat a large frying pan and add a couple of tbsp olive oil. Add the pancetta and fry over a fairly high heat until slightly crispy and most of the fat has been rendered. Remove the pancetta pieces from the pan with a slotted spoon and set aside.
Turn the heat up and add the courgette and peppers to the pan. Fry on a high heat until the vegetables start to brown and caramelise. Keep moving them around the pan so they brown evenly. Add the garlic, chilli and thyme to the pan then add the vinegar to de-glaze. Return the pancetta to the pan. Add the tomatoes and break them down with a wooden spoon. Allow the sauce to simmer and reduce to quite a thick consistency. Season, remembering the pancetta is quite salty.
Add the cooked pasta to the sauce and mix well. Serve in bowls with the grated parmesan sprinkled over.