Latest news
HMRC Insolvency Bulletin: Specified Charges in Insolvency
- 28 Oct 2024
When an employer or contractor hasn’t submitted their PAYE RTI or CIS return, HMRC raises a Specified Charge. Insolvency practitioners (IPs) will now have a mechanism to file pre-appointment returns if desired. IPs should use their judgment to accept or replace the Specified Charge. lPs appointed in formal insolvencies of employers or contractors will soon receive a notification advising them of this option to file pre-appointment returns.
HMRC Insolvency Bulletin: Confidentiality and disclosure in personal insolvencies
- 28 Oct 2024
HMRC cannot usually disclose information it holds on a debtor taxpayer. Please read HMRC’s latest guidance on when disclosures are allowed in personal insolvency cases.
HMRC Insolvency Bulletin: HMRC Digital Platform Reporting Service
- 18 Oct 2024
Anyone who manages, or works within, a digital platform in the UK must follow the guidance and reporting rules for digital platforms set out in the link within the bulletin. This includes Insolvency Practitioners appointed over a digital platform operator. If you need to report to HMRC, you must use the digital platform reporting service.
HMRC Insolvency Bulletin: Members Voluntary Liquidation Updates
- 18 Oct 2024
Following a process change, clearance requests from insolvency practitioners, or any other representative of the company, are no longer actioned. It is important to note the cessation of clearance provision extends to all procedures outlined in the Insolvency Act 1986, encompassing both solvent and insolvent liquidations, as well as administrations. Find out what you need to do.cy Act 1986, encompassing both solvent and insolvent liquidations, as well as administrations.
HMRC Insolvency Bulletin: Digital journey for Plastic Packaging Tax
- 30 Sep 2024
HMRC is streamlining its process for handling insolvency related to Plastic Packaging Tax by introducing a new Digital G-Form that is required to use when notifying HMRC of an Insolvency Event, submitting Plastic Packaging Tax Returns and deregistering from Plastic Packaging Tax. Be sure you make the necessary updates and follow the new procedure to help ensure your correspondence is handled efficiently.
Urgent clarification requested regarding secured creditors
- 30 Aug 2024
- PDF (332kb)
ICAEW, along with two of the UK's other recognised professional bodies (IPA and ICAS); recently co-signed R3's letter to INSS (the Insolvency Service) to ask for urgent clarification to assist insolvency practitioners in carrying out their functions as an administrator of a company.
HMRC Insolvency Bulletin: postal addresses to use for insolvency-related correspondence
- 28 Aug 2024
Be sure to update the address used to send insolvency-related correspondence to HMRC to avoid unnecessary delays. Post should be sent to the Enforcement and Insolvency Service addresses shown on Insolvency (VAT Notice 700/56).
Changes to Insolvency Guidance Papers
- 24 Jul 2024
Under the Joint Insolvency Committee’s (JIC’s) strategic work plan, Insolvency Guidance Papers (IGPs) are subject to periodic review to ensure they remain relevant to changing legislation and market conditions. In 2024 all of the IGPs are being reviewed and this notice is to advise you of the changes that have been approved by the JIC to date.
All available issues of Insolvency News e-newsletters
Insolvency News, Issue 13 (May 2023)
- Newsletter
- 02 May 2023
In this issue, read about SIP 16 reviews, insolvency compliance reviews, proposed changes to SIP 3.3 (Trust Deeds) and changes to our pre-visit information requests. You can also access resources such as webinar recordings and register for this year’s Restructuring & Insolvency Conference. Plus, make note of upcoming changes to CPD and other news in the Professional Standards Department.
Insolvency News, Issue 12 (February 2023)
- Newsletter
- 08 Feb 2023
In this issue, read some of the key outcomes from last year’s quality assurance monitoring visits, familiarise yourself with forthcoming changes to SIP 3.1, access HMRC’s latest bulletins and sign up to our next live webinar.
Insolvency News, Issue 11 (October 2022)
- Newsletter
- 07 Oct 2022
In this issue of Insolvency News, the Insolvency Service confirms work it is undertaking to support you in relation to Bounce Back Loans, HMRC issues new updates including one regarding Director’s Loan Accounts and there is an opportunity to sign up for two live insolvency webinars. We also invite you to apply for a remunerated role on our Insolvency Licensing Committee and highlight two recent articles from our series on the Future of Insolvency.
Insolvency News, issue 10 (August 2022)
- Newsletter
- 11 Aug 2022
This issue includes guidance on insolvency compliance reviews and how to avoid a breach of the ICAEW Insolvency Licensing Regulations, access to updated checklists for personal and corporate casework, invitations to join us for the Restructuring & Insolvency Community autumn roadshows and a pension scheme matters for insolvency professionals’ webinar, and the latest information on IP monitoring review and sanctions.
Insolvency News, Issue 9 (July 2022)
- Newsletter
- 01 Jul 2022
In this issue we invite you to join us at the virtual Restructuring & Insolvency roadshows and to the ‘Pension issues for Insolvency Practitioners’ webinar. And there are two important updates including an enforcement notice about debt management advertisements and guidance from HMRC on submitting VAT returns. The Regulatory and Conduct Annual Report 2021-2022 is also included as well as an on-demand conference session about online mediation from the negotiator’s perspective.
Insolvency News, Issue 8 (May 2022)
- Newsletter
- 20 May 2022
Read about an update to Dear IP Article 89 as well as common pitfalls associated with the Code of Ethics. There’s also an important and timely reminder about SIP 9 and the Code of Ethics in relation to the use of SIP 9 avoidance schemes. Find out more about the Restructuring & Insolvency conference, free for the first time. Watch on-demand webinars about energy supplier insolvencies and insolvency compliance and SIP 11 annual review requirements.
HMRC Insolvency Guidance
HMRC Insolvency Bulletin: Specified Charges in Insolvency
- Oct 2024
- PDF (112kb)
HMRC Insolvency Bulletin: Confidentiality and disclosure in personal insolvencies
- Oct 2024
- PDF (119kb)
HMRC Insolvency Bulletin: HMRC Digital Platform Reporting Service
- Oct 2024
- PDF (64kb)
HMRC Insolvency Bulletin: Members Voluntary Liquidation Updates
- Oct 2024
- PDF (132kb)
HMRC Insolvency Bulletin: Insolvency Customer Services Mailbox
- Oct 2024
- PDF (125kb)
HMRC Insolvency Update: Digital journey for Plastic Packaging Tax
- Sep 2024
- PDF (114kb)
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