Our new, improved website

Over the past few months we’ve been busy refreshing the Insolvency Support Services’ website.

We set out to modernise the look and feel of the site, simplify the navigation, and provide a fully integrated, seamless experience for clients, while not deviating too much from the existing design.

The ISS Training section in particular is now much more streamlined and easy to follow. In addition to the Full Training Programme page where you can browse all our courses, there are pages for each training stream, as well as a Calendar page that displays all upcoming courses in chronological order. The One Hour Series section includes both our upcoming live webinars and our Learning Library, a complete archive of now over 50 recorded webinars accessible on demand.

While our other core services (ISS Compliance, ISS Practice Support and ISS Outsourcing) remain the same as before, we have taken the opportunity to update the information about each service.

Overall, these changes should mean that you will be able to find what you are looking for more easily and quickly.

We hope you enjoy using the new website.  

Many congratulations to all the ISS Training students who passed the Insolvency Practitioners Association (IPA)’s Certificate of Proficiency in Insolvency (CPI) and Certificate of Proficiency in Personal Insolvency (CPPI) exams this year. Very well done on all your hard work and achievement.

And a special mention for Grant Thornton’s Lucy Dale on achieving first place in Scotland in the CPI exam – congratulations on a well deserved result.

JIE, CPI, CPPI and CII exam training

Interested in studying for an insolvency qualification? For full details of all our insolvency exam training courses, visit ISS Training.

If you would like to discuss your options, please get in touch on 0845 601 7570 or at [email protected]

We are incredibly proud to be celebrating Insolvency Support Services’ 15th anniversary this year. It is a significant milestone for any business and even more so as an SME that survived the pandemic of 2020. 

We could not have reached our 15th birthday without the support, collaboration and encouragement of many people and organisations over the years. Many thanks to all our talented team members, present and past, for your hard work and commitment to the business and to our loyal clients for choosing and supporting us, and allowing us to become part of your team. We enjoy working with you. 

Thanks too to the many others in various organisations, with whom we have partnered over the years, for your expertise and custom. A special mention to the IPA, ICAS, AiB, ICAEW and EIDG, and the Universities of Glasgow and Aberdeen, with whom we have been delighted to work in a range of mutually beneficial ways.

Reflecting on our journey so far, our core services (ISS Training, ISS Compliance, ISS Outsourcing and ISS Practice Support) and our main client groups (insolvency professionals and practices, law firms, accountancy firms, banks, professional bodies and government organisations) remain the same as when we started out. 

However, it is also clear there has been much change too, including the development of new services and training streams, many new client relationships, additional in-person training locations, the pivot to online training during Covid, increased remote working by our team, several new collaborative partnerships, and many sponsorships and speaking opportunities.

We very much appreciate the relationship our business has with you and thank you for your support over the last 15 years. We are part of a wonderful profession and are proud to support you all. 

We hope that you continue to support us and look forward to working with you in the coming years.

Insolvency Support Services is delighted to be sponsoring and exhibiting at the Insolvency Practitioners Association (IPA)‘s Spotlight on AML and Fraud Conference 2024 on 25 September in Birmingham. The conference aims to help delegates stay protected from AML and fraud threats in their daily practice.

Our director Eileen Maclean is also joining the impressive lineup of speakers at the event. She and Rachel Lai of Menzies will be leading a session on Translating AML Compliance into Practice.

With a focus on AML compliance an essential part of insolvency practice, the importance of understanding AML risks and documenting them in insolvency work cannot be overstated. Taking a proactive, strategic approach to safeguarding businesses against the ever-present threat of money laundering is vital for all insolvency professionals in meeting regulatory requirements.

If you are also attending the conference, please come see us at our stand and say hello.

We would be happy to discuss your AML requirements on the day, or contact us with your enquiry. We offer a range of AML compliance services and AML training.

The FRP Scottish Technical Managers Forum is an opportunity for anyone responsible for Scottish case compliance or technical support to come together on a regular basis and discuss current or common issues faced in Scottish insolvency appointments.

The next meeting is scheduled for Tuesday 3 September at 2pm. Due to the geographical spread of group members, the meetings will be held online, via Microsoft Teams.

If you would like to attend, or get notice of future meetings, please email dk@insolvencysupportservices

Our director Eileen Maclean will be speaking at the Insolvency Practitioners Association (IPA)‘s Scotland Roadshow at Brodies LLP’s Glasgow office on 28 August.

Part of the IPA’s UK-wide 2024 Roadshow Series, it will be an excellent opportunity both to meet up with other insolvency professionals and to get an update from Government agencies, policymakers, leading insolvency and legal practices, and the IPA regulatory team.
 
Book your place

Our director Eileen Maclean is joining a great lineup of speakers at the Insolvency Practitioners Association (IPA)‘s Spotlight on AML and Fraud Conference 2024 on 25 September in Birmingham.

With a focus on AML compliance an essential part of insolvency practice, the importance of understanding AML risks and documenting them in insolvency work cannot be overstated. Taking a proactive, strategic approach to safeguarding businesses against the ever-present threat of money laundering is vital for all insolvency professionals in meeting regulatory requirements.

Bringing together experts from various relevant sectors, including insolvency, law enforcement, cybersecurity, government agencies, legal and regulation, the conference will aim to help delegates stay protected from AML and fraud threats in their daily practice.

Book your place

Insolvency Support Services had a recent enquiry on the relevant date for claims in a Scottish court winding up which commenced with the appointment of a provisional liquidator.  Which date should go on the HMRC Form VAT769 for the purposes of quantifying the preferential claim for VAT? 

Section 387(3)(b) IA86 brings forward the date for the calculation of preferential claims to the earliest of the winding up order or the appointment of a provisional liquidator.  “… the relevant date is the date of the appointment (or first appointment) of a provisional liquidator, or if no such appointment has been made, the date of the winding up order …”

That in effect overrides R7.22 ISRWUR2018 that deals with claims generally and refers to the date of the winding up order as the relevant date for all other claims.

S387 recognises that if you have capacity as Provisional Liquidator, preferential claims crystalise at the point that you take control, with the presumption that you would be dealing with employees, trading and HMRC etc. as a cost of your appointment.

In the case of a provisional liquidator appointment therefore, you put that date on your VAT 769 and not the date of the winding up order.

There’s some debate surrounding R3.95 ISCVAAR2018 just now, regarding the application and meaning of R3.95(2) in terms of administration accounting periods.  Must an administrator submit a request for remuneration in relation to every accounting period, or is there flexibility in terms of submission (as there is in the Liquidation Rules)?

The relevant statute is reproduced here:

R3.95(2) appears to allow the Administrator to apply for remuneration, not only for the accounting period that has just expired, but also the previous accounting period. The use of the definite article appears to mean that an administrator can in practice claim for two accounting periods at a time, but no more. This is very different to liquidation, where so long as the Liquidator applies in conjunction with an accounting period, they can apply for as many past periods as necessary.

The terms of R3.95(1) appear to be distinct – where an Administrator intends to apply, they must do so within two weeks of the accounting period. Depending on how you read Rule 3.95(2) it indicates that they can apply for the prior period as well, if they have not already done so, unless you read “prior” as meaning the accounting period that has just ended! Either reading precludes an application for three or more extant accounting periods, without requesting the permission of the court to waive the failure of the IP to make a timely claim.

We are aware that the “two accounting period approach” has been successfully utilised by a number of Administrators, but there is no definitive decision or commentary from the Scottish Courts on this matter and this approach.

As always, therefore, the answer is to manage your accounting periods and the deadlines imposed by statute, rather than relying on the court to remedy a missed submission. Take legal advice if you are unsure.

A very warm welcome to Kim Guthrie, who has joined Insolvency Support Services as an Administrator.

Kim brings a wealth of business administration experience to the team, having enjoyed a varied career to date. Prior to joining Insolvency Support Services, Kim had spent 11 years in client-facing customer service with a leading house builder and eight within a Big 4 accountancy firm’s restructuring practice.

Find out more about Kim in the Meet us section of the website.