Marcial Boo, CEO

IPA Insolvency Practitioner newsletter, November 2024

Dear members,

It was great to meet some of you at this week’s London Roadshow and hear perspectives particularly on corporate insolvency. I look forward to meeting more of you at the Personal Insolvency Conference in Manchester in two weeks’ time.

You will know that the IPA is an Anti-Money Laundering (AML) Professional Body Supervisor (PBS). As such, we recently published our AML Annual Report. It covers the wide-ranging challenges in this area of practice, whether Covid financial support fraud, geo-political financial sanctions, new countries designated ‘high risk’ and the impact of technology on economic crime. All this has made robust AML practice even more important to IPs, so do look at our report here.

You will also have seen the Budget announcement that HMRC, Companies House and the Insolvency Service will work together to stop “phoenixism”, the ‘contrived’ corporate insolvencies and dissolutions put in place simply to evade tax. The IPA expects to be involved in this work, and we will update you as it progresses.

Finally, good luck to everyone taking Tuesday’s sitting of the CPI England and Wales. I hope your hard work pays off and that we can welcome you as members when you pass!

Meantime, with best wishes,

Marcial Boo