Tax returns and payments in administrations – correction On 17 January 2024 HMRC issued insolvency guidance stating that in administration the administrator should calculate the pro-rata proportion of income tax and NIC due for the post appointment period only, then deduct and account for that income tax and NIC only.
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This Case Review Pack is part of a series issued by ICAS. The objective is to provide documentary evidence of the conduct of the Sequestration and of periodic case review. It is accepted that there are alternative methods of demonstrating that periodic reviews have been completed. Use of these review forms is not mandatory where it can be demonstrated that other appropriate methods of review are employed.
These documents are ICAS' responses to insolvency related consultations and are submitted on behalf of the ICAS Insolvency Committee.
The following documents are produced by ICAS' Insolvency and Regulation Monitoring team. Read on for more key information and help sheets for assistance.
The following document centres on HMRC insolvency guidance: Cessation of tax clearance in Members' Voluntary Liquidations (MVLs).
HMRC reminds users of the VAT Insolvency Only mailbox to follow specific guidelines when submitting queries.
ICAS responds to the Scottish Government’s consultation on a Mental Health Moratorium (MHM), highlighting key considerations for eligibility, policy objectives, and support for individuals in mental health crises.
HMRC shares a guide for insolvency practitioners on managing tax returns and payments during administrations, including handling PAYE, NIC, and VAT liabilities arising from the administrator's actions.
HMRC shares a guide for insolvency practitioners on correctly recording Tax and National Insurance for former employees of an insolvent entity when making dividend payments.
