The latest COVID-19 contingency arrangements for the restructuring and insolvency profession.
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Temporary Insolvency Practice Direction EXTENDED (March 2021)
Lord Wolfson, Parliamentary Under Secretary of State at the Ministry of Justice, has approved and signed a temporary Insolvency Practice Direction (TIPD) on behalf of the Lord Chancellor. The TIPD comes into force on 1 April 2021. View
Lord Wolfson, Parliamentary Under Secretary of State at the Ministry of Justice, has approved and signed a temporary Insolvency Practice Direction (TIPD) on behalf of the Lord Chancellor. The TIPD comes into force on 1 April 2021. View
HMRC - COVID 19 Support (CJRS reminder) (8 December 2020)
"There are now monthly deadlines for claims. Claims must be submitted within 14 calendar days after the month they relate to, unless this falls on a weekend in which case the deadline is the next weekday. We'll continue to send you reminder emails before the deadline each month." View
"There are now monthly deadlines for claims. Claims must be submitted within 14 calendar days after the month they relate to, unless this falls on a weekend in which case the deadline is the next weekday. We'll continue to send you reminder emails before the deadline each month." View
SCOTLAND - Guidance issued by The Society of Messengers at Arms & Sheriff Officers (November 2020)
A guidance document has been issued outlining restrictions to the services of Sheriff Officers within the five tiers of protection levels aligned to the Scottish Government’s Covid-19 guidelines. This new system has been sanctioned by the Directorate for Justice within the Scottish Government’s Civil Law and Legal System Division and it is expected that all sheriff officers should conform. View
A guidance document has been issued outlining restrictions to the services of Sheriff Officers within the five tiers of protection levels aligned to the Scottish Government’s Covid-19 guidelines. This new system has been sanctioned by the Directorate for Justice within the Scottish Government’s Civil Law and Legal System Division and it is expected that all sheriff officers should conform. View
The Insolvency Service - Reinstatement of Insolvency Service account cheque payment production (September 2020)
The Insolvency Service are now reopening their offices and with immediate effect will be accepting requests for cheque payments. View
The Insolvency Service are now reopening their offices and with immediate effect will be accepting requests for cheque payments. View
HMRC - The introduction of the Job Retention Bonus.
The Chancellor announced the introduction of the Job Retention Bonus. This is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31 January 2021. The bonus will provide additional support to retain employees. View
The Chancellor announced the introduction of the Job Retention Bonus. This is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31 January 2021. The bonus will provide additional support to retain employees. View
SCOTLAND - Route Map - Resumption of Messengers-at-Arms and Sheriff officer Services
Phase two of a Sheriff Officer Route Map has been published. The route map shows the resumption of additional services that includes serving charges for payment and for removing at domestic premises. View
Phase two of a Sheriff Officer Route Map has been published. The route map shows the resumption of additional services that includes serving charges for payment and for removing at domestic premises. View
HMRC - Insolvency Bulletin. Voluntary Arrangements
This note explains HMRC’s approach to variations and new proposals in respect of Individual Voluntary Arrangements (IVAs), Partnership Voluntary Arrangements (PVAs) and Company Voluntary Arrangements (CVAs) from 1 July 2020 until 30 November 2020. View
This note explains HMRC’s approach to variations and new proposals in respect of Individual Voluntary Arrangements (IVAs), Partnership Voluntary Arrangements (PVAs) and Company Voluntary Arrangements (CVAs) from 1 July 2020 until 30 November 2020. View
HMRC - Deferral of VAT payments
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The Insolvency Service - Advice on staying secure during COVID-19
Guidance from the Centre for the Protection of National Infrastructure for businesses and insolvency office holders on managing security risks during the pandemic. View
Guidance from the Centre for the Protection of National Infrastructure for businesses and insolvency office holders on managing security risks during the pandemic. View
HMRC - Coronavirus Job Retention Scheme
Important dates to note. View
Important dates to note. View
Guidance - Furlough and redundancy
The guidance has been updated for those individuals who were furloughed using the Coronavirus Job Retention Scheme, then made redundant because their employer is now subject to a insolvency process. View
The guidance has been updated for those individuals who were furloughed using the Coronavirus Job Retention Scheme, then made redundant because their employer is now subject to a insolvency process. View
Changes to the Coronavirus Job Retention Scheme
The Coronavirus Job Retention Scheme is changing: From 1 July, employers can bring back to work employees that have previously been furloughed for any amount of time and any shift pattern, while still being able to claim CJRS grant for their normal hours not worked. When claiming the CJRS grant for furloughed hours employers will need to report and claim for a minimum period of a week. The scheme will close to new entrants from 30 June. From this point onwards, employers will only be able to furlough employees that they have furloughed for a full 3 week period prior to 30 June. View
The Coronavirus Job Retention Scheme is changing: From 1 July, employers can bring back to work employees that have previously been furloughed for any amount of time and any shift pattern, while still being able to claim CJRS grant for their normal hours not worked. When claiming the CJRS grant for furloughed hours employers will need to report and claim for a minimum period of a week. The scheme will close to new entrants from 30 June. From this point onwards, employers will only be able to furlough employees that they have furloughed for a full 3 week period prior to 30 June. View
Individual Voluntary Arrangement (IVA) Protocol guidance
The Insolvency Service have provided clarification on the guidance published to support the IVA Protocol in view of the COVID-19 pandemic on 20 April 2020. "The guidance is a tool for supervisors to use if the terms of the IVA require further flexibility in the current circumstances. The guidance does not form part of the IVA terms and has not been legally incorporated into existing IVAs." View
The Insolvency Service have provided clarification on the guidance published to support the IVA Protocol in view of the COVID-19 pandemic on 20 April 2020. "The guidance is a tool for supervisors to use if the terms of the IVA require further flexibility in the current circumstances. The guidance does not form part of the IVA terms and has not been legally incorporated into existing IVAs." View
SCOTLAND - Response from the Scottish Courts and Tribunals Service (29 April 2020)
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UPDATE - HMRC - Coronavirus — Insolvency Guidance
Clarification of the payment reference number (with examples), which was highlighted in the original publication from HMRC titled 'Introduction of electronic banking for Insolvency Practitioners making dividend payments'. View
Clarification of the payment reference number (with examples), which was highlighted in the original publication from HMRC titled 'Introduction of electronic banking for Insolvency Practitioners making dividend payments'. View
ICAEW - The use of 'light touch' administration
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ICAEW - AML responsibilities: take on procedures during Covid-19
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SCOTLAND - The insolvency processes and procedures that rely on the Scottish courts for progression.
R3’s Scottish Technical Committee has identified the insolvency processes and procedures that rely on the Scottish courts for progression. We think that that this is a comprehensive picture of the courts’ involvement in insolvency, and the extent to which insolvency is rooted in court procedure, and are members rely on the courts to progress their cases. View
R3’s Scottish Technical Committee has identified the insolvency processes and procedures that rely on the Scottish courts for progression. We think that that this is a comprehensive picture of the courts’ involvement in insolvency, and the extent to which insolvency is rooted in court procedure, and are members rely on the courts to progress their cases. View
SCOTLAND - Court of Session, Guidance note for Practitioners
The purpose of this guidance is to facilitate insofar as is possible the efficient disposal of court proceedings in the Court of Session during the ongoing Covid-19 emergency. View
The purpose of this guidance is to facilitate insofar as is possible the efficient disposal of court proceedings in the Court of Session during the ongoing Covid-19 emergency. View
Global Guide: Measures adopted to support distressed businesses through the COVID-19 crisis
INSOL International / World Bank Group - Interactice Map INSOL International and the World Bank Group have jointly produced a Global Guide to highlight some of the primary measures that have been introduced in 38 countries as a response to the COVID-19 crisis (current as of April 10, 2020). View
INSOL International / World Bank Group - Interactice Map INSOL International and the World Bank Group have jointly produced a Global Guide to highlight some of the primary measures that have been introduced in 38 countries as a response to the COVID-19 crisis (current as of April 10, 2020). View
Further Information & Articles
- R3 Standard Form COVID 19 CVA Proposal
- Bounce Back Loans: FAQs for the Insolvency Profession
- Creditor Guides
- AML
- Dealing with corporate financial distress
- Dealing with money worries – a guide to your options
- Digital
- Directors
- Employees
- Ethics
- Fees
- GDPR
- Helpsheets
- HMRC
- Insolvency Service
- Pensions
- Special Administration
- Standard Conditions - IVA
- Standard IVA Protocol
- Further guidance
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