Alerts and Bulletins
Technical Alerts

 

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THE ADMINISTRATION (RESTRICTIONS ON DISPOSAL ETC. TO CONNECTED PERSONS) REGULATIONS 2021 (February 2021)
On 24 February 2021, the draft statutory instrument of the regulations was published following a period of consultation. An administrator will be unable to make a “substantial disposal” of company property (including hiring out or sale) to a person connected with the company within the first 8 weeks of the administration WITHOUT either the approval of creditors or an independent written opinion i.e. a qualifying report (positive or negative). This could involve one or more transactions.
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Companies House - Filings. Part II (February 2021)
Further to the technical alert issued on 18 February 2021, Companies House has provided clarification to the rejection of Form LIQ03 , Give notice of progress report in voluntary winding up.
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The Coronavirus Job Retention Scheme - HMRC Furlough Fraud Team (February 2021)
HMRC have set up a dedicated team to identify and recover funds where the CJRS and other support payments such as the Self-employed Income Support Scheme and the Eat out to Help Out scheme, were made when they weren’t properly due.
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Companies House filings and New RP14A Form (February 2021)
This alert highlights two possible concerns with Companies House filings and the introduction of a new RP14A Form, which is to be used from 19 February 2021.
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HMRC - Closure of helplines across Debt Management EIS teams (February 2021)
An update on HMRC helplines.
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HMRC update - Contact Details (November 2020)
This alert provides members with updated addresses for HMRC, a reminder on electronic banking for IPs making dividend payments and a brief update on the issues being experienced with VAT and tax clearances.
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Outcome of review of industry reforms to pre-pack sales in administration (8 OCTOBER 2020)
On 8 October 2020, the Government published its report on the findings and recommendations following a review to assess the impact of voluntary industry measures introduced in November 2015 to improve the transparency of pre-pack sales in administration.
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The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Early Termination of Certain Temporary Provisions) Regulations 2020 (SEPTEMBER 2020)
The Regulations will come into force on 1 October 2020 and as a result a number of temporary provisions in the Corporate Insolvency and Governance Act 2020 will terminate.
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Companies House issues, Insolvency Service telephone numbers and Recognition of Qualifications (SEPTEMBER 2020)
This alert provides an update on the issues members are experiencing with the Companies House ‘Upload a document to Companies House’ service. The alert also notifies members on the changes to the Insolvency Service telephone numbers and provides details of a call for evidence by BEIS about the recognition of Professional Qualifications post Brexit.
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Pensions: An update from Nest, the auto-enrolment pension provider (August 2020)
As members may be aware the Redundancy Payments Service (‘RPS’) have been making bulk payments to the various pension providers via BACS rather than cheque. However, it recently came to the attention of the R3 Technical Team that NEST had returned a bulk payment of a number of pension claims to the RPS and as a result the RPS determined that they would not be making payments to NEST for the foreseeable future and not until their office was manned again so individual cheques for each claim could be issued. This technical alert provides an update from NEST on this reported matter.
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The Coronavirus (Scotland) (No.2) Bill (MAY 2020)
Important changes to Bankruptcy (Scotland) Act 2016
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HMRC – Insolvency Guidance. Introduction of electronic banking for Insolvency Practitioners making dividend payments (MAY 2020)
This technical alert concerns the guidance released by HMRC titled ‘ Introduction of electronic banking for Insolvency Practitioners making dividend payments’ and historic claims from HMRC.
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Consultations on revisions to Statements of Insolvency Practice 7 and 9 (MAY 2020)
The Joint Insolvency Committee (JIC) is consulting on changes to SIP 9 - Payments to insolvency office holders and their associates and SIP 7 - Presentation of financial information in insolvency proceedings. The consultation will commence on 27 April 2020 and will be open for a period of 12 weeks, closing on 20 July 2020.
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Consultations on revisions to Statements of Insolvency Practice 3.1 and 3.2 (MAY 2020)
The Joint Insolvency Committee (JIC) is consulting on changes to SIP 3.2 - Company voluntary arrangements and SIP 3.1 - Individual voluntary arrangements. The consultation will commence on 27 April 2020 and will be open for a period of 12 weeks, closing on 20 July 2020.
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Tax update (APRIL 2020)
HMRC have kindly informed R3’s tax working group of their current position with regards to Time To Pay (‘TTP’) proposals and the collector’s position on interest and penalties.
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Technical Update (APRIL 2020)
A summary of the decision handed down in the matter of Carluccio's, an update on the Coronavirus Job Retention Scheme, Court of Session Guidance note (Scotland) and other updates.
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Technical update (APRIL 2020)
An update on swearing a declaration of solvency (list of solicitors), HMRC insolvency guidance, the Coronavirus Job Retention Scheme, PPF updates, an u pdate from Mr Justice Snowden, and more.
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Swearing a Statutory Declaration - COVID-19 contingency arrangements (MARCH 2020)
A list of solicitors that are willing to undertake a swearing, whilst abiding by the UK Government guidance in respect of social distancing.
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The Coronavirus Job Retention Scheme (MARCH 2020)
The Scheme is a temporary scheme open to all UK employers for at least three months starting from 1 March 2020. The Government guidance confirms that the scheme can be accessed by an Administrator of a company .
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New R3 website...New website links to Technical Materials (FEBRUARY 2020)
Despite the efforts of the Technical Team to have the website links to the technical materials held on the old R3 website transferred to the new version, it was not possible. This note provides members with new website links to ‘ Creditors Guides ’, ‘ Fee Guides ’, ‘ IVA Standard Conditions ’ and ‘SIPS'.
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Further Information & Articles
Caroline SumnerCaroline Sumner
Technical & Education Director
020 7566 4207
Ben LuxfordBen Luxford
Technical Manager
020 7566 4218
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