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Personal insolvency casework

Resources to support insolvency practitioners in undertaking formal personal insolvency appointments under the Insolvency Act 1986 (and associated legislation), providing information about the types of personal insolvency that may assist individuals experiencing debt problems, and guidance on bankruptcy and individual voluntary arrangements.

IVA Protocol

The IVA protocol is a voluntary framework for dealing with straightforward consumer-based IVAs, aimed at increasing trust and confidence between the participants in an IVA and also improving the efficiency of the IVA process.

Checklists*

* Please see our disclaimer below before accessing these documents.

England and Wales - post April 2017

All insolvency case types

This checklist is designed to support the work of ICAEW licensed Insolvency Practitioners (IPs) in preparing for insolvency compliance reviews and to comply with the requirements of ICAEW’s insolvency licensing regulations and guidance. It aims to support reviews of formal personal and corporate appointments for work done on or after 6 April 2017.

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 England and Wales - post-April 2010

Bankruptcy appointments

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A checklist to help insolvency practitioners complete case reviews of bankruptcy appointments for individuals.

Individual voluntary arrangements - Post April 2010

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Checklist to support insolvency practitioners undertake individual voluntary arrangement casework undertaken after April 2010.

Individual voluntary arrangements - Post July 2014

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Checklist to support insolvency practitioners undertake individual voluntary arrangement casework undertaken after 1 July 2014.

Voluntary arrangements

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A checklist of supplementary review points for voluntary arrangement cases

Pre-April 2010 checklists

Guidance

PPI Guidance: Review in the light of the decision in Green v Wright (August 2017)

In April 2013, guidance was issued on the treatment of PPI claims in personal insolvency (“PPI Guidance”). A review of the guidance indicates that its provisions are unaffected by the decision in Green v Wright. This note is supplemental to the PPI Guidance and intended to provide clarification in respect of individual voluntary arrangements only.

Guidance on PPI mis-selling claims

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This paper provides guidance to officeholders dealing with Individual Voluntary Arrangements (IVAs) or bankruptcy cases on the issues that may arise when the debtor may have been mis-sold Payment Protection Insurance.

VAT Tribunal - Paymex Limited v HMRC

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HMRC recently issued a business brief in response to the VAT Tribunal decision in the case of Paymex Limited v HMRC, dealing with the VAT liability of services provided by an insolvency practitioner (IP) in an individual voluntary arrangement (IVA). HMRC have released further guidance to clarify the main points of concern outlined in this buisness brief.

Trust Deeds: Guide to the practical implications of the Paymex decision

This guidance seeks to summarise common issues that may arise when dealing with Trust Deeds affected by the decision in Paymex. This guidance was funded by ICAS and shared with the other RPBs, as the equivalent guidance for IVAs etc has been shared with ICAS (see below). There is separate guidance on IVAs and other case types based on Counsel’s advice co funded by a number of the RPBs (ICAEW, IPA, ACCA, CARB) and also R3 and DRF

In debt? Dealing with your creditors

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This guide, produced by the Insolvency Service, explains the various options open to those in debt to make arrangements involving creditors. The guidance explains how the options work and some of the pros and cons of each. The guide can help with personal or business debts, or both.

Bankruptcy - Family homes

Insolvency Guidance Papers (IGPs) are issued to insolvency practitioners to provide guidance on matters that may require consideration in the conduct of insolvency work or in an insolvency practitioner’s practice. This IGP covers bankruptcy and family homes.

Office of Fair Trading - Debt management guidance

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Guidance from the Office of Fair Trading for fee-charging debt management companies (DMCs), covering services such as: advising on restructuring of debt, contacting creditors, undertaking reviews of the debtors' financial circumstances, and making payments on his behalf.

StepChange Debt Charity Budget guidelines 2017

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Each year StepChange reviews its budget guidelines to ensure that it continues to support clients in creating realistic and sustainable budgets before assessing their appropriate debt solutions. Download the 2017 guidelines.

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Previous Step Change Debt Charity Budget guidelines
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Further support

Real time information in insolvencies - guidance from R3 and HMRC

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In response to concerns raised about the operation of RTI in formal insolvency proceedings and the problems that may arise as a consequence of the disruption which accompanies such proceedings, HMRC and R3 issued a joint note to explain the current position.

VAT on supervisors' fees (Paymex) - HMRC note

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In response to insolvency practitioners request for clarification in light of the VAT Tribunal decision in the case of Paymex Limited and the subsequent HMRC Briefs published in response to the Paymex ruling, HMRC published this note to R3.

Data protection and insolvency

The Data Protection Act 1998 (DPA) came into force on 1 March 2000. It sets rules for companies and organisations that deal with personal data. Personal data is information that identifies living individuals. The DPA applies to the processing of personal information and extends to some paper records as well as those held electronically. Its scope is very wide and it imposes a number of obligations. Some obligations are quite onerous on those involved in the processing of personal data. The information on this page is aimed at insolvency practitioners and does not go into detail about the basics of data protection.

Guidance on corporate insolvency casework

Resources to support insolvency practitioners in undertaking corporate personal insolvency appointments, providing information on: liquidations (voluntary and compulsory), company voluntary arrangements (CVAs), administrations and administrative receiverships.

Your insolvency compliance review

Access guidance to support the work of ICAEW licensed Insolvency Practitioners (IPs) and their staff in conducting insolvency compliance reviews. Available guidance includes frequently asked questions, helpsheets, forms and checklists.

*Please see our disclaimer below before accessing these documents.

Disclaimer: helpsheets and checklists

This guidance is designed to support the work of ICAEW licensed Insolvency Practitioners and their staff.

Our helpsheets provide support on the preparation of insolvency compliance reviews, on running insolvency practices, as well as technical help. The helpsheets will also help you to comply with the requirements of ICAEW’s insolvency licensing regulations and guidance.

Our personal and corporate insolvency checklists may be useful when you review your formal appointments. They're not an exhaustive statement of the law and best practice but they give staff with insolvency experience the key areas to consider.

ICAEW doesn’t give any guarantee or warranty regarding the accuracy of the checklists or helpsheets none of which should be treated as a substitute or replacement for the user’s own knowledge or legal advice.