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HMRC to give time to pay update at ICAEW event 8 June 2011

At a time when many insolvency practitioners are calling for consistency and clarity over the parameters for time to pay, Paul Gilhooley, deputy head of enforcement at HMRC, will deliver the latest news on the scheme. understands that HMRC is preparing to carry out hundreds of independent business reviews (IBRs) on companies with time to pay agreements.

The conference, to be held at the Chartered Accountants Hall in London on Wednesday June 15, will be chaired by Neville Kahn, chair of the ICAEW’s insolvency group and global head of reorganisation services at Deloitte.

Ahead of a panel session at the event on the future of insolvency regulation, he revealed to his own views on whether the profession needs a new independent complaints body.

He said: “I think (these proposals) are just tinkering at the edges. There are complaints bodies and from what I can see, a valid complaints system is already in existence.”

The panel on the future of regulation will feature Kahn; Frances Coulson, managing partner at Moon Beever and president of R3; Vernon Soare, executive director for professional standards at the ICAEW; and Nick Howard, director of policy at the Insolvency Service.

Next week’s event will also feature a debate on pre-packs amid government proposals to introduce a three-day notice period for creditors. The panellists include Fraser Gray, partner at Zolfo Cooper, Jon Moulton, chairman of Better Capital, and Larry Coltman, vice president of the Institute of Credit Management.

Kahn himself is unconvinced by the proposal, adding: “I can’t see how it would be of any benefit in practice and how creditors could influence it.”

The event will also feature sessions on the property market and the Bribery Act. The keynote speaker will be Douglas McWilliams, chief executive of the Centre for Economics and Business Research (Cebr).



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