R3 Thinks

Having a seat at the table: R3's lobbying work

Promoting and defending the role and value of the insolvency and restructuring profession to politicians, the press and stakeholders is a vital part of what R3 does for its members. Without this work, our profession would almost certainly be subject to views and policies that do not fully, or accurately, portray the work of the… Read more

  1. 06/12/2018

    The return of Crown preference

    At the recent Budget, the Chancellor announced that HMRC will become a secondary preferential creditor in the event of a corporate insolvency. As such, from April 2020,… Read more

  2. 29/11/2018

    Views from the R3 President - November 2018

    The Budget Members won’t have missed the Chancellor’s October Budget surprise: the partial return of HMRC’s preferential status. This year’s… Read more

  3. 13/11/2018

    Talk Money Week 2018

         This week (12-18 November) is Talk Money Week 2018. The theme this year is “all about increasing financial wellbeing by encouraging… Read more

  4. 30/10/2018

    The Government’s 2018 Budget statement

    The task facing the Chancellor at yesterday’s Budget statement was a daunting one: he needed to maintain stable public finances while finding the cash to pay for… Read more

  5. 22/10/2018

    Corporate governance reforms – the story so far

    Following a number of recent high profile insolvencies, the Government announced plans in the spring to reform the corporate governance framework, aimed at reducing the… Read more

  6. 18/10/2018

    Views from the R3 President - October 2018

    As your President for this year, I have particularly enjoyed the privilege of speaking to different groups about the huge contribution our profession makes to the UK… Read more

  7. 17/10/2018

    The value of pre-pack administrations: R3’s views on the 2015 reforms

    ‘Pre-pack’ administrations – where the sale of a company’s business or assets is agreed before it enters an insolvency procedure, and completed… Read more

  8. 01/10/2018

    The LASPO Act two years on – the impact on insolvency litigation so far

    Over the summer, the Government has been carrying out its long-awaited review of the impact of the 2012 Legal Aid, Sentencing and Punishment of Offenders (LASPO) Act. The… Read more

  9. 25/09/2018

    Bankruptcy costs explained

    Bankruptcy and other personal insolvency procedures play an important role within the economy. They are designed to help return money to creditors when people can no… Read more

  10. 20/09/2018

    Corporate insolvency reforms – new tools for business rescue

    Over the August bank holiday weekend, the Government published a package of corporate insolvency reforms, setting out the most substantial changes to the UK’s… Read more

  11. 19/09/2018

    Views from the R3 President - September 2018

    Last month saw the publication of updated Government plans for reforms which would represent the biggest overhaul of the insolvency and restructuring framework since… Read more

  12. 20/08/2018

    Recovery Autumn 2018 – President’s Column

    On 20 July 2018, Council met to consider the findings of our strategic review and considered the first steps of its implementation. This was always going to be at the… Read more

  13. 09/08/2018

    The pensions White Paper and insolvency

    In March of this year, the Department for Work and Pensions published a White Paper, ‘Protecting Defined Benefit Pension Schemes’ (read R3's statement in… Read more

  14. 08/08/2018

    Guide to bankruptcy

    What is bankruptcy? Although bankruptcy is the best-known form of the three types of personal insolvency, it is actually the least common. In 2017, out of 99,219… Read more

  15. 07/08/2018

    What is an IVA?

    Individual Voluntary Arrangements (IVAs) are a statutory insolvency procedure. They are a binding agreement between an individual and their creditors (people who the… Read more

  16. 18/07/2018

    Licences in insolvency and business rescue

    In last November’s Budget, the Chancellor of the Exchequer, Philip Hammond, announced the launch of a review into consumer protection in the event of an airline or… Read more

  17. 16/07/2018

    Guide to Company Voluntary Arrangements (CVAs)

    What is a company voluntary arrangement? A company voluntary arrangement (CVA) is a binding procedure between a company and its creditors, and is one of several… Read more

  18. 10/07/2018

    R3’s roundtable on Company Voluntary Arrangements (CVAs)

    With Company Voluntary Arrangements (CVAs) hitting the headlines over recent weeks, we thought it might be interesting to provide readers with a summary of the… Read more

  19. 18/06/2018

    Corporate Governance & Insolvency – Problematic Proposals

    Director responsibilities, corporate governance, and insolvency have been the subject of multiple Government consultations in recent years. The latest consultation,… Read more

  20. 23/04/2018

    International Women's Day 2018

    Celebrated each year on March 8, International Women’s Day is an opportunity to take stock of women’s achievements in every sphere of life, as well as to note… Read more

  21. 28/02/2018

    Guide to administration

    What is an administration? If a company cannot pay its debts when due or if its liabilities outweigh its assets (i.e. the company is insolvent), the company’s… Read more

  22. 19/02/2018

    Quick guide to 'pre-pack' administrations

    1. What is a ‘pre-pack’? 2. What are the benefits of a pre-pack? 3. How do pre-packs work? 4. How are creditors protected in a pre-pack? 5. Recent… Read more

  23. 12/02/2018

    Breathing Space: R3's consultation response

    Over the past year, a combination of poor real wage growth, inflation, and rising consumer debt levels have contributed towards a troubling picture of financial health… Read more

  24. 30/01/2018

    Brexit & Insolvency – Where Are We Now?

    As with every other part of the UK economy, leaving the EU could potentially have a significant impact on the UK’s insolvency and restructuring framework. This, in… Read more

  25. 29/01/2018

    The work of the insolvency profession in tackling rogue directors

    The recent BBC Panorama programme, ‘Millionaire Bankrupts Exposed', sought to expose the ways in which some bankrupts attempt to get around the restrictions imposed… Read more

  26. 15/01/2018

    A Quick Guide to Liquidation

    What is liquidation?If a company cannot pay its debts when due or if its liabilities exceed its assets (i.e. the company is insolvent), it will enter an insolvency… Read more

  27. 20/10/2017

    R3 at Labour Party Conference 2017

    A wave of sunshine hit Brighton last month as Labour’s annual conference was underway, reflecting the jubilant mood of the party in the wake of June’s General… Read more

  28. 20/10/2017

    R3 at Conservative Party Conference 2017

    It seems that a common theme for R3 Thinks posts on the party conference season each year is the unprecedented amount of political change that has happened in the twelve… Read more

  29. 13/07/2017

    Making Tax Digital: the implications for insolvency and restructuring processes

    The calling of the June general election had, as we have seen, a number of unforeseen consequences. One of those was a delay to the government’s flagship Making Tax… Read more

  30. 29/06/2017

    Pre-pack administrations: A short guide

    With several examples of pre-pack administrations having recently featured in the news, it seems like a suitable moment to put up a short guide to so-called… Read more

  31. 12/06/2017

    The implications of the general election result for the insolvency and restructuring profession

    A week is a long time in politics; a six-week general election campaign is an eternity. Once again the pundits, and indeed almost everyone, have been confounded by the… Read more

  32. 11/05/2017

    General Election 2017: Insolvency and restructuring policy priorities for the next government

    With the opinion polls pointing to a Conservative victory at next month’s general election, Theresa May looks set to secure her return to Downing Street as the head… Read more

  33. 10/05/2017

    Mental health and debt – an unhealthy relationship

    Debt comes in many shapes and sizes and can have a wide range of impacts on both the person in debt and their family and friends. While awareness of debt issues has… Read more

  34. 10/05/2017

    R3’s submission to the government’s green paper on defined-benefit pension schemes

    The government published a green paper on defined-benefit (DB) pension schemes in February to seek views on the current landscape and potential options for reform. The… Read more

  35. 12/04/2017

    All roads lead to Durham for R3's Northern Conference 2017

    By Neil Harrold, North East chair of R3 and a partner with Hay & Kilner Law Firm North East England cast off its winter clothes and greeted delegates to the 2017 R3… Read more

  36. 12/04/2017

    The role of the UK’s insolvency and restructuring regime in building the government’s Industrial Strategy

    During her leadership campaign and early in her premiership, Theresa May signalled a return to a more active and explicit industrial strategy. The policy forms a key part… Read more

  37. 29/03/2017

    Brexit – What next for the insolvency and restructuring framework?

    After almost a year of predictions and uncertainty around the direction of Brexit, Theresa May has finally fired the starting gun to begin the UK’s negotiations to… Read more

  38. 24/03/2017

    Breathing Space: a proposed new tool for individuals in debt

    In March 2015, towards the end of the last parliament, HM Treasury, in conjunction with the Insolvency Service, committed to review the legal framework for debt… Read more

  39. 15/03/2017

    Insolvency practitioner bonding

    In December last year, R3 responded to the Insolvency Service’s Call for Evidence into the bonding arrangements for insolvency practitioners. The Call for Evidence… Read more

  40. 28/02/2017

    Lee Carter’s EastEnders storyline shows need for better awareness of debt help options

    Long-running soap EastEnders, as any regular viewer will know, often tackles real and contentious issues that its viewers may be faced with. Debt is one such topic to… Read more

  41. 17/02/2017

    A new Single Financial Guidance Body: What does it mean for personal debt and insolvency?

    In March 2016, the government announced that the Money Advice Service, set up in 2010 to provide independent advice to consumers on their finances, would close and be… Read more

  42. 14/02/2017

    Insolvency and relationships

    It seems like an apt moment to talk about romance, relationships – and finances. While love is in the air, it’s easy to get carried away in the moment;… Read more

  43. 16/12/2016

    Brexit: A clearer picture for the UK’s insolvency and restructuring regime?

    As R3’s president Andrew Tate explained in his blog on Brexit in September, the UK’s vote to leave the European Union has brought with it a huge number of… Read more

  44. 16/11/2016

    Is there a link between insolvency and Westminster representation?

     The Insolvency Service has published its annual update on personal insolvency rates in English & Welsh Westminster parliamentary constituencies. You can see the… Read more

  45. 10/11/2016

    The Rules – what now for insolvency practitioners?

    By Caroline Sumner, R3 technical directorThe Insolvency (England and Wales) Rules 2016 have finally arrived and are due to come into force from the 6th of April 2017.The… Read more

  46. 18/10/2016

    R3 at Conservative Party Conference

    The R3 Thinks post on last year’s Conservative Party Conference ended by noting that the 2016 conference in Birmingham could have a very different feel to that of… Read more

  47. 18/10/2016

    R3 at Labour Party Conference

    There was uncertainty if the 2016 Annual Labour Party Conference would go ahead given the failure to confirm security. But just one month ahead of the event, it was all… Read more

  48. 29/09/2016

    Corporate Insolvency Consultation Response Summary

    The government’s summary of responses (published 28th September 2016) of its Corporate Insolvency framework review provides a bit of an insight into what… Read more

  49. 15/09/2016

    Brexit & Insolvency

    There are very few parts of the economy where the effects of ‘Brexit’ won’t be felt. The UK’s insolvency and restructuring regime isn’t one… Read more

  50. 08/09/2016

    Insolvency: where to get advice

    There has been increasing claims in the insolvency profession of unregulated or unlicensed advisors targeting distressed businesses, directors, and individuals. These… Read more

  51. 07/09/2016

    Consumers and Retail Insolvencies – Can They Get a Better Deal?

    Although relatively uncommon, the insolvency of a large, well-known High Street retailer tends to attract more attention than other insolvencies. This isn’t… Read more

  52. 22/08/2016

    Increasing signs of fraud and the impact of late payment and the 'domino' effect

    In June we asked R3 members for their thoughts on a range of topical issues, including fraud-related activity, late payment and other causes of corporate insolvency.… Read more

  53. 19/08/2016

    R3's response to the Government's Corporate Insolvency Framework Consultation

    During the summer, the government launched a consultation on the Corporate Insolvency Frameworkto which R3 submitted a response, reflecting the views of the insolvency… Read more

  54. 05/07/2016

    New Official Receiver’s fees – a message for members

    By Andrew Tate, R3 presidentLast Friday (1st July), the government announced a number of changes to the Official Receiver’s fees regime. These changes will take… Read more

  55. 09/06/2016

    A new public financial guidance body: R3 responds to government consultation

    At the 2016 Budget in March, the government announced that they would replace the Money Advice Service (MAS), Pensions Wise and The Pensions Advisory Service with a new… Read more

  56. 08/06/2016

    R3 responds to Home Office consultation on money laundering and counter-terrorist financing

    As part of the Anti-Corruption Summit held in London in April of this year, the Home Office launched a consultation on anti-money laundering and counter-terrorist… Read more

  57. 03/06/2016

    Are 85% of women’s insolvencies caused by consumer debt alone? Not quite...

    We’ve spotted that some of our research on gender and insolvency is referred to in the papers this morning. The article says that according to R3 research,… Read more

  58. 10/05/2016

    Business concerns: Introduction of auto-enrolment

    In a recent survey of 500 UK businesses, conducted on behalf of R3, nearly a quarter (23%) were concerned that auto-enrolment of pensions would have a significant… Read more

  59. 25/04/2016

    What happens to vouchers in administrations?

    With BHS entering administration this morning, we thought it might useful to review one of the things that often attracts attention when a retailer becomes insolvent:… Read more

  60. 06/04/2016

    From today it's easier to enter bankruptcy

    From today, applications by insolvent individuals to enter bankruptcy will be made online rather than by petitioning the court. Applications will be assessed by a… Read more

  61. 06/04/2016

    From today it's harder to return money to creditors from rogue directors

    From today, legal funding changes mean that millions of pounds a year of creditors' money could stay in the hands of rogue directors.When a company enters an insolvency… Read more

  62. 29/03/2016

    HMRC and the insolvency process

    The UK’s tax system has been hot topic of conversation in parliament and the media recently, spurred by high-profile cases such as Google.And with the influential… Read more

  63. 04/03/2016

    Insolvency risk in the oil & gas sector

    The distress in the oil and gas market has been well publicised. The price of oil has fallen dramatically in the last eighteen months, now standing around $35 a… Read more

  64. 01/03/2016

    Saving for a rainy day

    R3’s latest Personal Debt Snapshot (our regular survey of 2,000 British adults) revealed that payday struggles and debt worries are at a record low. With… Read more

  65. 22/02/2016

    Debtors' Bankruptcy Fees Fall

    The Insolvency Service has announced that the fee for individuals applying for bankruptcy is to fall by £50 to £130. So, from April 2016, it will cost… Read more

  66. 28/01/2016

    How much money are creditors owed from insolvencies?

    Our latest Business Distress Index found that 113,000 UK businesses were owed money by insolvent companies and individuals in 2015; that’s around 6% of all… Read more

  67. 18/01/2016

    Ministry of Justice ends Jackson exemption

     In mid-December, the government announced an early Christmas present for rogue directors in the form of a half a £billion payday. In a written statement the… Read more

  68. 07/01/2016

    Personal insolvencies by parliamentary constituency

    This year’s personal insolvency statistics for England & Wales’ parliamentary constituencies tell the same story they have told before: personal… Read more

  69. 18/12/2015

    Insolvency in Europe: tackling the key obstacles to cross-border markets

    On 7th December R3 and ICAEW co-hosted an event in Brussels on recent developments in EU insolvency law. R3’s CEO Graham Rumney was joined on the panel by Ondrej… Read more

  70. 16/12/2015

    Cost of ending insolvency exemption from LASPO Act rises to £480m

    Last year, the insolvency profession was able to retrieve approximately £480m owed to creditors thanks to an exemption for insolvency litigation from the 2012 Legal… Read more

  71. 02/12/2015

    Insolvency and Europe

    As speculation increases about the date and outcome of the referendum on the UK’s membership of the European Union, you might be interested to know what the… Read more

  72. 30/11/2015

    Consumer access to debt advice risks being damaged by FCA changes

    FCA authorisation is a big issue in the profession at the moment, and was among the topics covered by our member survey in October. The results provide an insight into… Read more

  73. 27/11/2015

    What are the leading causes of business struggles?

    One of the benefits of our member surveys is that the results provide an insight into what those in the profession, who are dealing with businesses and individuals in… Read more

  74. 17/11/2015

    City Link – The Verdict & What It Means

    From R3’s technical teamThe verdict has now been delivered in the City Link case, and the directors were held not guilty. A similar case, concerning retailer USC,… Read more

  75. 26/10/2015

    R3 at the Scottish National Party Conference 2015

    Reflecting the importance of Scotland’s R3 membership, and of course the Scottish National Party’s success at the general election (winning 56 out of 59… Read more

  76. 23/10/2015

    Why insolvency should remain exempt from LASPO - a response to Lord Justice Jackson

    On the 16th October 2015, Lord Justice Jackson, author of the 2010 ‘Jackson Reforms’ that contributed to part two of the 2012 Legal Aid, Sentencing and… Read more

  77. 21/10/2015

    R3 at the Conservative Party Conference 2015

    The Conservative Party conference in Manchester was an event of sharp contrasts with that of the Labour Party conference, which took place just a few days before. The… Read more

  78. 19/10/2015

    R3 at the Labour Party Conference 2015

    A day by the seaside normally conjures up images of sun loungers, sand and ice cream. For R3, at the end of September, a day by the seaside involved fringe meetings,… Read more

  79. 01/10/2015

    Today’s bankruptcy and Debt Relief Order changes

    From today, the way the personal insolvency regime works is changing in some key ways. It is going to become harder for people to made bankrupt over low value debts, and… Read more

  80. 22/09/2015

    Football insolvencies - levelling the playing field

    A new football season brings with it new players, new managers and new odds on who will win trophies. There is also something else new for all Football League clubs this… Read more

  81. 16/09/2015

    What happens to customer data in insolvencies?

    R3 vice-president Andrew Tate was on Radio 4's You & Yours on Monday, talking about what happens to customer data when a company enters insolvency. You can hear… Read more

  82. 01/09/2015

    Why £5,000? - The Creditor Bankruptcy Petition Level

    Back in January 2015, the government published its proposals to lift the creditor petition threshold for bankruptcy to £5,000 and the Debt Relief Order limits to… Read more

  83. 20/08/2015

    'Breathing Space' from creditor enforcement

    The scale and nature of personal insolvency in England and Wales has changed considerably in recent years. In the decade to 2010 the number of insolvencies in England and… Read more

  84. 18/08/2015

    How big of an issue is late payment?

    Late payment continues to be a persistent problem in the business community, particularly for smaller companies who tend to be disproportionately affected. Exactly how… Read more

  85. 13/08/2015

    Welcome to R3 Thinks

    Welcome to R3 Thinks. R3 Thinks is where we will keep you updated on our latest research, policy proposals, relevant activities and thoughts on insolvency, the wider… Read more

News Contacts

  1. Nick Cosgrove
    Communications Manager

    T: 020 7566 4215
    M: 07917 422 485
    F: 020 7566 4224
    E: nick.cosgrove@r3.org.uk