Alerts and Bulletins
Technical Alerts

 

Welcome to R3's Technical Alerts, exclusively for members.

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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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Joint statement to Insolvency Practitioners and authorised Firms from the FCA, ICO and FSCS (FEBRUARY 2020)
The statement relates to circumstances where a firm or an IP appointed over a failing or failed firm are aware of potential customer complaints against the firm and seek to realise some value by selling the customers’ details to claims management companies who would then use the data to contact the customers and offer to help them make a claim at a cost.
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E-Filing, Administration - Notice of Appointment - Part II (JANUARY 2020)
Following the release of R3’s Technical Alert on the decision of ICC Judge Burton in the matter of S.J. Henderson & Company Limited (in administration) and Triumph Furniture Limited (in administration) on 8 November 2019, it came to our attention that HHJ Hodge QC had handed down a decision in Keyworker Homes (North West) Limited (‘KWHL’) in which he decided that directors CAN appoint out of hours via e-filing, and the appointment would take effect at the time and date of filing (subject to subsequent acceptance).
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Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (JANUARY 2020)
The regulations amend the Money Laundering, Terrorist Financing and Transfer of Funds Regulation from 2017, and would implement an EU Directive on the topic. The regulation makes additional provisions to cover crypto-asset exchange providers in its definitions of credit institutions, as well as for letting agencies and estate agents. These will now be covered under anti-money laundering and counter-terrorist financing (‘AML’/ ‘CTF’) legislation.
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Disguised Remuneration Loan Charge - Part III - January 2020
In September 2019, the Government commissioned an independent Loan Charge (‘LC’) review to be undertaken. The review was published on 20 December 2019 together with the Government’s own response to the review. Highlights of the review...
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E-Filing, Administration - Notice of Appointment - November 2019
In two separate cases of in the matter of S.J. Henderson & Company Limited (in administration) and Triumph Furniture Limited (in administration) Insolvency and Companies Court Judge Burton gave a combined judgment and was asked to consider the correct interpretation of para 8.1 of the Insolvency Practice Direction – C an a company or its directors file a NOA outside of the court’s usual counter opening hours via e-filing?
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Insolvency Service - Updates on the workings of the RPS - October 2019
The Insolvency Service have released an update on what the RPS have been doing to work through employee claims and associated queries following the issues encountered after the introduction of a new case management system.
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The Return of Crown Preference - Draft legislation for Finance Bill 2019-2020 - July 2019
The Finance Bill confirms that HMRC will return to preferential status for certain tax debts on the insolvency of a business . HMRC will move ahead of holders of floating charges and other non-preferential unsecured creditors, but remain below holders of fixed charges and higher ranking preferential creditors.
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Insolvency Service - Redundancy Payments Service - Contact issues - July 2019
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Disguised Remuneration Loan Charge - Part II - guidance issued by HMRC on 18 April 2019 - April 2019
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Modernised Insolvency Rules (Scotland) - April 2019
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Disguised Remuneration Loan Charge - details on the loan charge, which comes into effect on 5 April 2019. - April 2019
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Tax Technical Alert: a number of important tax updates and messages from HMRC - March 2018
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R3 Standard Conditions for Individual Voluntary Arrangements (Version 4) - February 2018
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HMRC and claims for statutory interest in MVLs – an update - December 2017
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HMRC have requested that the following notifications be brought to your attention - December 2017
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Interaction with the Official Receiver – have your say - November 2017
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PPI Guidance following Green v Wright - August 2017
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Change of address for VAT 426 claims - July 2017
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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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