Paul Smith, CEO
IPA Insolvency Practitioner newsletter, July 2024
Dear members,
It was good to see some of you in Leeds earlier this month and I’m looking forward to meeting our Scottish members next month in Glasgow for our Scotland Roadshow on 28th August.
As regards the regulatory landscape, updates to our Insolvency Guidance Papers (IGPs) are expected this year alongside the periodical review of the IGPs by the Joint Insolvency Committee (JIC) to ensure that they remain relevant to changing legislation and market conditions. You can read more here.
Personal insolvency practitioners should be aware that new Debt Relief Order rules for Northern Ireland came into effect on 8th July. The rule changed broadly follow those brought in for England & Wales earlier this year and include an increase of the maximum debt threshold from £20,000 to £50,000, an increase in the monthly surplus income threshold from £50 to £75 and the savings or asset value limit increasing from £1,000 to £2,000. The £90 administration fee was removed last month.
To finish, a mention of an important new event that is coming up soon. Taking place on 1 August and kindly hosted by our key supporting sponsor Marsh in their spectacular London offices, we launch our inaugural event for our Rising Professionals Network, a new community for IPA members who are in the early stages of their insolvency careers. We have an exciting evening planned that is free for members and open to non-members so we hope to see you there! Read more about it and book here.
Best wishes,
Paul Smith