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over 3 years ago
Free lunchtime demo - this Monday: ICAEW Certificate in Insolvency
Monday 05 December 2016 12:30-13:30 Register for the free online demonstration, which will outline what the certificate is, and the benefits of studying for one of the most flexible qualifications of...
Accounting for an IVA
I have a client who has entered into an IVA as at 30/10/10. His creditors at that date stand at £40,000. Within the IVA they have agreed to accept 10p-25p in the pound. He is to pay this amount on a monthly...
Disclaimers. New Rules Anomalies
I have recently disclaimed a lease for the first time under the new 2010 Rules and, as required by Rule 4.187, sent a copy, inter alia, to the Land Registry who returned it saying they are "rejecting...
Beware of backdating those dividends because ...
What is cheap now can be expensive later. The backdated dividend might not be uncommon but it is a problem misunderstood. Dividends for owner-managed businesses are often an attempt to remunerate...
Dust off your books on insolvent law firms
With 1 in 20 law firms falling into the Assigned Risks Pool (a regulator run insurance pool for the uninsured which charges premiums of between 27% and 47% of turnover ), the next 12 months is looking...
Has anyone received an Auto Enrolment fixed penalty notice from the Pensions Regulator yet for an insolvent employer?
over 3 years ago
It was a pleasure to present your latest webinar to you about Auto Enrolment and how it will affect insolvent employers.
You may recall that at the end of December 2014 there had only been 166 Employers that had failed to set up an Auto Enrolment pension scheme all of which were furnished with a fixed penalty notice of £400. This has now increased at the end of March 2015 to 1,529 Employers of which insolvent employers are not immune.
I would be grateful to learn from this community whether anyone has received a fixed penalty notice for one of their corporate insolvency appointments and perhaps you could share with the group how it was dealt with within your appointment.
In my opinion the penalty notice is against the Employer and not the IP. Equally, if there are no employees left at the business to Auto Enrolment then I would be confident that you would have strong grounds for an appeal.
In the meantime, we have asked R3 to lobby the Pensions Regulator to check whether an Employer has gone insolvent or dissolved prior to submitting these notices and I will keep you posted with any developments.
Clumber Consultancy Limited
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