General (34)

Directors Disqualified for abuse of Bounce Back Loan Scheme

27 Jan, 2022

We understand that two directors of a specialist tuition centre have been banned for a total of 21 years. Aamer Aslam, 39, from Huddersfield, and Razwan Ashraf, 31, from Keighley, were co-directors of Scholars Academy Ltd, based in Brighouse. They have been disqualified for 11 and 10 years respectively. Scholars..

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National Minimum Wage Increase – 1 April 2022

12 Jan, 2022

From April 2022 the National Minimum Wage and National Living Wage will increase by 6.6 percent from £8.91 to £9.50. In full, the increases are: Rate from April 2022 Current rate (April 2021 to March 2022) National Living Wage £9.50 £8.91 Increase of 6.6% 21-22 Year Old Rate £9.18 £8.36..

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RPS Notice to IPs – RP14/A Uploads – Pre New Year Payments

24 Dec, 2021

Notice from Redundancy Payments Service – New Year 2022 Redundancy Payments Service would like to pay as many customers as possible before the banks close for New Year. Therefore they are asking Insolvency Practitioners to upload their RP14 and/or RP14(a) documents by Thursday 23 December 2021. If you have any difficulties uploading..

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FCA Restrictions on CMC Charges

08 Dec, 2021

CMC charges for financial products and services claims The FCA has set out new rules for claims management companies (CMCs) to protect consumers against excessive charges. Some of the major changes include: Restricting the fees CMCs charge for managing claims about non-PPI financial products and services through a fee cap...

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Dear IP – Update on ERA by the Redundancy Payments Service

05 Nov, 2021

Dear IP Publication – Update on Employment Protection Act by the Redundancy Payments Service Company Rescue and Employment Contracts The purpose of this article is to provide guidance on issues arising from paras. 37 and 38 of Schedule B1 to the Insolvency Act 1986, where an administration order is made..

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RPS & Directors claims at less than National Minimum Wage

05 Nov, 2021

Unlike in the past, Directors redundancy claims will no longer be automatically be uplifted to national minimum wage (NMW) unless the Insolvency Practitioner (IP) agrees the uplift. However, here at CFS Redundancy Payments Ltd, we will continue to process directors redundancy claims at never less than the national minimum wage..

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Redundancy Claims – Weekly Limit Increase – 6 April 2021

16 Mar, 2021

The Employment Rights (Increase of Limits) Order 2021 With effect from 6 April 2021 the statutory maximum amount of “a week’s pay” for the purpose of calculating a redundancy payment increases from £538 to £544. A copy of the above relevant statutory instrument is available at the following website address:

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Redundancy – An Insolvency Practitioner’s Responsibilities

12 Feb, 2021

Suspicious or fraudulent redundancy payment claims – A reminder of an Insolvency Practitioner’s responsibilities Given recent media reports highlighting suspected fraudulent activity across a range of government support schemes and services, Insolvency Practitioners are reminded to be vigilant of potential abuses including in relation to redundancy payments claims. The Redundancy..

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FCA Fee Cap Proposal – Claims Management Companies

29 Jan, 2021

The FCA have published a consultation paper on proposals to restrict the amount charged by claims management companies. Under the Financial Guidance and Claims Act 2018 (FGCA) when Parliament transferred regulation of CMCs to the FCA it gave them a duty to make rules about CMC fees for claims relating..

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