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Personal insolvency casework

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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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Guidance

*Please see our disclaimer below before accessing these documents.
PPI Guidance: Review in the light of the decision in Green v Wright (August 2017)
  • Helpsheets and support
  • PDF (164kb)
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.
Exclusive Guidance on PPI mis-selling claims
  • Helpsheets and support
  • PDF (266kb)
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.
Exclusive Guidance on PPI mis-selling claims; protected trust deeds and sequestration
  • Helpsheets and support
  • PDF (254kb)
This note provides guidance to officeholders who are dealing with Trust Deeds or sequestration cases about the issues that may arise where the debtor may have been mis-sold payment protection insurance.
Exclusive VAT Tribunal - Paymex Limited v HMRC
  • Article
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.
Guidance to the practical implications of the Paymex decision (England and Wales)
  • Helpsheets and support
  • PDF (72kb)
This guidance is based on Counsel’s advice co funded by a number of the RPBs (ICAEW, IPA, ACCA, CARB) and also R3 and DRF. This document, which replaces guidance previously issued by ICAEW, seeks to summarise common issues that may arise when dealing with cases affected by the decision in Paymex.
Trust Deeds: Guide to the practical implications of the Paymex decision
  • Helpsheets and support
  • PDF (54kb)
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
Exclusive In debt? Dealing with your creditors
  • Helpsheets and support
  • DOC (201kb)
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
  • Helpsheets and support
  • PDF (150kb)
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.
Exclusive Office of Fair Trading - Debt management guidance
  • Helpsheets and support
  • PDF (144kb)
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.
Financial controls for insolvency cases
  • Helpsheets and support
  • PDF (127kb)
This helpsheet is for Insolvency Practitioners (IPs). It is essential that an Insolvency practice has robust controls over estate accounts and cashiering procedures, both to ensure that estate monies are safe, and also to enable you to prepare accurate statutory returns, and receipts and payments accounts.

Further support

*Please see our disclaimer below before accessing these documents.
Exclusive Real time information in insolvencies - guidance from R3 and HMRC
  • Helpsheets and support
  • PDF (108kb)
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.
Exclusive VAT on supervisors' fees (Paymex) - HMRC note
  • Helpsheets and support
  • PDF (22kb)
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
  • Helpsheets and support
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 basic...
Guidance on corporate insolvency casework
  • Helpsheets and support
The resources in this section support the work of ICAEW licensed insolvency practitioners and their staff who undertake formal corporate insolvency appointments under the Insolvency Act 1986 (and associated legislation). Guidance and checklists providing information on: liquidations (voluntary and compulsory), company voluntary arrangements (CVAs), administrations, moratoriums and administrative receiverships.
Your insolvency compliance review
  • Listing
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.

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.