We set out what the insolvency and restructuring profession wants to see in the forthcoming Budget, with the unwelcome return of preferential status for HMRC and the problematic anti-phoenixing proposals top of the list.
R3 is worried that the new offences created by the Pension Schemes Bill could have a chilling effect on directors’ willingness to undertake rescue attempts and could lead to extra risks for any insolvency and restructuring professionals involved.
Following on from part one of our look ahead at the coming year, here are more issues which we anticipate will appear on the agenda for the insolvency and restructuring profession in 2020...
This post sets out some of the issues R3 will be working on in 2020, on our members’ behalf, to ensure the market, legislative and regulatory environment for the insolvency and restructuring profession remains as positive as possible.
Over the last 12 months R3 has been working across a number of policy issues, ensuring that the consequences of what is being proposed are fully understood and considered, and that the voice of the insolvency and restructuring profession is heard.
While a lot of press and political attention in recent months has been focused on big-name insolvencies like Thomas Cook, or the many struggling High Street firms and restaurants, there has been little focus on one particular part of the economy that has seen a steady stream of insolvencies, affecting hundreds of thousands of customers – that of energy suppliers.
Ahead of the upcoming General Election, R3 has set out what we believe should be the priorities vis-à-vis the UK’s personal and corporate insolvency and restructuring landscape for the party which wins on 12 December.
Nick Cosgrove
James Jeffreys
Stuart McBride
Jo Tacon
