HMRC has published new guidance on changes to its liquidation process for Corporation Tax cases.
This page is a news portal for the insolvency sector and insolvency practitioners regulated by ICAEW. From here, you will also be able to access the range of insolvency webinars created by ICAEW.
Following an FCA review of the practices of debt packager firms, five firms have stopped providing regulated debt advice until further notice and the FCA has used formal powers to stop another firm from providing regulated advice.
HMRC has published two updates for insolvency practitioners.
Rules amending the eligibility criteria for a Debt Relief Order (DRO) have been laid in parliament, increasing all of the monetary limits. From 29 June 2021, debtors with a monthly surplus income of £75, debts of up to £30,0000 and with a maximum property value of up to £2,000 will now be eligible for this personal debt solution.
QAD’s Alison Morgan has devised a quiz for IPs and their staff to supplement training on the recent changes to various SIPs. It’s already had great feedback from firms and a compliance provider, why not test your team’s knowledge now? The answers are on the notes pages of the slide deck.
The FCA has published its finalised guidance for insolvency practitioners (IPs) on how to approach insolvencies of regulated firms (FG21/4). The guidance aims to achieve better outcomes on firm failures by helping IPs to understand how to deal with regulated firms in line with the FCA’s expectations.
Guidance on the new legislation that requires mandatory scrutiny of pre-pack sales to connected persons
Following the introduction of the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 on 30 April 2021, the Insolvency Service has issued guidance about the requirement for independent scrutiny of connected party disposals of company assets in an administration.
Following a Joint Insolvency Committee (JIC) consultation, changes were made to Statement of Insolvency Practice (SIP) 9 with effect from 1 April 2021.
New regulations which are due to come into effect on 30 April 2021 will impose additional obligations on connected person purchasers in administrations.
Changes will need to be made to Statement of Insolvency Practice 16 with limited advance notice due to new legislation.
Dear IP 108 issued on 28 August advised IPs that from 1 September 2020, users would be able to upload all insolvency statutory forms directly to Companies House using the 'Upload a document to Companies House' service.
QAD’s Alison Morgan has devised a quiz for IPs and their staff to supplement training on the new moratorium provisions. It’s already had great feedback from firms and a compliance provider, why not test your team’s knowledge now?
Q&A from the July 2020 pan RPB webinar about the monitor role presented by Paul Bannister of the Insolvency Service
Here's the Q&A from the joint RPB webinar on the new monitor role which took place on 7 July. Some of these questions were answered during the webinar but Paul didn't get chance to answer all of the questions submitted, and has kindly provided responses to those that weren't addressed at the time.
How can you control information chaos?
We all have the same common goals for our business: deliver great customer service, offer fantastic welfare to our staff, and be as efficient and profitable as possible. But with the changing landscape of technology and regulatory compliance some challenges have been thrown up for businesses to navigate.
Want to improve your team’s insolvency knowledge? Remote Certificate in Insolvency invigilation could be the answer
Our business recovery and insolvency profession is expecting one of its busiest periods since the recession of the early 90s. ICAEW has recently been asked by various firms, how easy is it for staff in different disciplines to transfer to recovery and insolvency departments to ease the expected resource constraints?
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