About R3
Impact Statement 2019


Making a difference for our members in 2019

R3 protects and promotes the environment and strong insolvency and restructuring framework required to enable our members to fulfil their vital role in the economy. We are a home for our community of members throughout their careers. We develop and refresh talent in the profession. And we give our members a united voice on key issues and legislation which affect them.
Throughout 2019, we’ve worked hard on behalf of our members – and we’ve lots planned for 2020.
To continue to benefit from R3 membership, make sure you renew – or join us – today!

R3'S Strategic Plan 

This year, R3 launched our Strategic Plan – Taking Us To 2023.

This plan sets out how R3 will ensure we represent everyone in our profession, whether you’re a licensed insolvency practitioner, a lender, a lawyer, a restructuring expert, or anyone else; whether you’re working in a global practice or running your own business; whether you have ten years’ experience or ten days’.

The plan sets out how we will ensure R3 is a thriving organisation, ready to help our profession build one community, have one place to learn throughout career journeys, and speak with one voice. We also want to provide a space for innovation and insight when it comes to how the profession supports the UK’s businesses and individuals.

This plan has been put together in collaboration with members and key stakeholders throughout the profession, and we’re really excited about putting it all into action.

With R3 turning 30 next year, this plan will help us put in place the foundations to support our membership for the next 30 years.

You can read the plan here.


Coming up in 2020

On the profession’s radar for 2020 are a number of key legislative and policy developments – alongside an inevitable public focus on the profession’s work as companies and individuals adapt to increasing economic challenges:

  • A new Government with new policy priorities
  • Brexit, and its impact on the cross-border insolvency framework
  • Potential reforms to the profession’s regulatory framework
  • An updated Ethics Code for the profession
  • The possible re-introduction of Crown Preference
  • Corporate insolvency reforms, including a new ‘moratorium’ and a new restructuring tool
  • Proposals for reforms to connected party pre-packs
  • Director liability for corporate taxes in some cases
  • Publication of the new CCAB AML insolvency annex
  • A political and public spotlight on CVAs
  • The introduction of a personal breathing space and a new statutory debt repayment plan

As an R3 member, you’ll have the opportunity to influence these developments – and unrivalled support for your practice when keeping up to date with any changes, thanks to our comprehensive learning programme of courses, webinars, briefings, and podcasts, delivered in-person and online.

Join us in 2020 and you’ll also have the opportunity to feed into R3’s upcoming research on the value of the insolvency and restructuring profession, the development of mental health guidance for members, our work with the Official Receiver, and much, much more.


The Voice of the Profession

R3 is the voice of the insolvency and restructuring profession, and actively promotes and defends the value of our members’ work.

R3’s unique, dedicated press, policy, and public affairs team works with journalists, politicians, civil servants and business bodies to:

  • Improve the perception of the profession
  • Enhance and expand members’ influence by campaigning for good legislation
  • Educate key stakeholders about the way insolvency and restructuring framework functions.

This year, R3 has…

  • Led a coalition of opposition to the Government’s attempts to restore Crown Preference.
  • Played a key role in influencing legislation on Brexit, which will create a more even playing field between EU and UK practitioners in the event of ‘No Deal’
  • Successfully campaigned for the introduction of a ‘Breathing Space’ for indebted individuals to enable them to seek advice while protected from creditor action
  • Fed members’ views into – and influenced – government reviews of corporate insolvency reform, pre-packs, Companies House, insolvency practitioner regulation, and airline insolvencies

R3 puts members in the room with government officials as they consider how legislation might work in practice, and we’re in routine contact with journalists as they get to grips with reporting high profile insolvencies. This year, our spokespeople have appeared on the BBC – TV and radio – and across the national and local press to represent our profession.

In recognition of R3’s vital work on behalf of its members, we’ve been nominated for ‘2019 Team of the Year’ at the prestigious PRCA Public Affairs awards.

Your support for R3 will help R3 continue to support the profession in 2020 and beyond.


Technical guidance and support 

R3 provides practical guidance and support to members. This year, we have released Technical Alerts covering key issues such as the disguised remuneration loan charge and the return of Crown Preference. We also delivered our modernised electronic Technical Bulletin, which highlighted  a range of topics from e-filing to the relationship between an IP and agent.
Responding to the needs of members, R3 published guidance on the main challenges surrounding pensions (and other employee benefits) as they apply to an IP appointed (over a company), assisting IPs in identifying and dealing with these issues in practice.
R3’s General Technical Committee continues to keep under review all UK and EU legislation under review, and this year has provided technical input into consultations on the Draft Finance Bill.
Our technical team works closely with members and other key stakeholders to address member concerns. Key areas of our work include:
  • A number of R3-HMRC working party groups designed to improve the profession’s experience of engaging with HMRC
  • Engagement with the Insolvency Service to resolve practical issues – including the persuading the RPO to reverse its decision to stop voting on IP fees, and seeking clarification on the 18-month rule for remuneration 
  • Contributing to JIC’s ongoing SIP reviews 

R3 Events

R3 provides the highest quality training for insolvency, restructuring and turnaround professionals across the UK. Our programme offers excellent learning opportunities, delivered by qualified and experienced professionals working within the profession. In 2019 we put on over 150 events, attracting 7,400 event delegates.

From our Annual and Regional Conferences, One and Half Day courses and Breakfast Briefings through to our many and varied Regional Events, we’re proud to cater for our members’ needs regardless of their experience, firm size, or speciality.

We provide training that focuses on practical as well as technical content with up-to-date case studies and expert speakers with genuine case experience. Plus, we have a wide range of social and networking events that provide a fantastic way of meeting fellow members within the profession in your area. These events range from comedy galas, golf days and gin tasting to winter balls and shopping experiences.

These are all excellent opportunities to network, gain new skills and hear about the latest changes in legislation and best practice.

View our upcoming events here: https://www.r3.org.uk/events

What’s Coming Up in 2020

  • R3 Annual Conference 13-15 May, Windsor
  • A brand new programme of events tailored to meet your training requirements
  • New topics and content
  • Specialised New Professional events
  •  A huge range of new webinars and course videos
  •  Exceptional networking opportunities

Want to take your R3 membership further?

Sponsorship with R3

The opportunities to sponsor R3 events are designed to build brand awareness, expand your business network, connect with those decision makers and demonstrate your expertise and services through direct contact and media exposure.

It also demonstrates your commitment to the profession and to R3 itself, as a protector and promotor of the profession.

We appreciate all of our sponsors and over the course of 2019 we have had some great support, whether national or regional, smaller or larger events and we must give mention to our Key Sponsor Partners, IRS and Manolete Partners.

If you want to get unrivalled access to the full spectrum of insolvency and restructuring professionals, or just want more information, please contact Gareth.fitzgerald@r3.org.uk

R3 Committees

R3 would not be as effective without the support of our many committees. Our committees bring together specialists from across our membership to represent all R3 members at a local and national level, driving our work, communicating best practice, promoting the profession and ensuring legislation is fit for purpose. Our committee members use their knowledge, experience, and diverse perspective to drive our strategy and cement R3’s position at the heart of the insolvency and recovery profession.

Our member committees include:

  • Regional Communications Committee (RCC)
  • Small Practices Group (SPG)
  • Regional New Professionals Groups and Women’s Group
  • General Technical Committee
  • Scottish Technical Committee
  • Personal Insolvency Committee
  • Education, Courses and Conferences Committee
  • Membership Committee
  • Fraud Group
  • Policy Group

Each committee helps R3 to be a stronger voice for its members and acts as a direct and effective route of communication and engagement with members. To join one of our committees or for details on local activity, please reach out to the Committee Chairs here.