The Redundancy Payment Service (RPS) is seeking to streamline its working process for pre-appointment notifications, which will benefit all parties – the RPS, Insolvency Practitioners and employees. To do this, RPS will be strictly enforcing the current guidance for case set-up. Requests for case set-up should not be made more..
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This is what the Redundancy Payments Service told us at the end of last week. “RPS will consider each claim carefully before any decision to reject is made. Whilst we always take into account the fact that the liquidator and the CMC acting for the director will have considered..
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Supreme Court Decision handed down The judgment in Harpur Trust v Brazel has been delivered by the Supreme Court with the Supreme Court dismissing Harpur Trust’s appeal. This will have significant implications for employers with staff working part of the year on permanent contracts who have their holiday entitlement pro-rated..
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The Corporate Insolvency and Governance Act 2020 introduced various measures to help protect companies, which were impacted by the lockdown restrictions during the Covid-19 pandemic. The majority of these measures expired between June and September 2021, except for restrictions on winding up companies, which extended until 31 March 2022. The..
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With effect from 6 April 2022 the statutory maximum amount per week is capped at £571. If you were made redundant before 6 April 2022, these amounts will be lower. A copy of a guidance in explaining your redundancy payments can be found at the following website https://www.gov.uk/government/publications/redundancy-payments-from-the-insolvency-service/explaining-your-redundancy-payment
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RPS Policy regarding offset of overdrawn Directors Loan Account balances The basis for the RPS approach is contained in Rules 14.24 (Administration) and 14.25 (Liquidation) of the Insolvency Rules 2016. This rule requires the RPS to set off payments due from the directors/employees to the company against sums that..
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The Chancellor made his annual Spring Statement speech yesterday where he set out the Government’s tax plan to support the UK economy, businesses and families in both the short and the medium term. Key measures the Chancellor announced as part of the plan include: an increase to the National Insurance..
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On 21 December 2021, the UK government launched a consultation called “The future of insolvency regulation” which proposes significant changes to the way that the insolvency profession is regulated. The current regime Currently, the UK’s insolvency practitioners are regulated solely as individuals, with no specific regulation of firms offering insolvency services. The..
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The Divisional Court has held that an administrator is an officer of the company for the purposes of section 194(3) of the Trade Union and Labour Relations (Consolidation) Act 1992 and as such is liable to prosecution for failure to give the required advance notice to the Secretary of State..
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Why is the case interesting? The judgment in Re Farrar Construction Ltd is a welcome authority on the issue of the burden of proof in circumstances where one creditor challenges the admission of a proof of debt from another creditor. Background to the case The case was an application to court under..
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