Assets must not be hidden from creditors warns Insolvency Service

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A surge in potential bankrupts trying to put their assets out of the reach of their creditors has prompted a warning from The Insolvency Service. 

“People struggling with debt who want to benefit from the debt relief arrangements offered by the insolvency regime must be prepared to declare all of their assets or face the penalty imposed on them.  It is for the Official Receiver to decide which assets should be sold for the benefit of the creditors and which may be retained by the debtor,” said Les Cramp, Senior Official Receiver for The Insolvency Service.  The warning comes after the number of investigations into potential bankrupts who have tried to hide their assets from the Official Receiver has already risen to more than 200 this year, compared with just 28 in 2008-09.
Bankrupts must disclose all assets, no matter how small, or they face a penalty which could include a custodial sentence, financial sanctions or having their period of bankruptcy restrictions increased by up to 15 years instead of the usual 12 months.    In March this year a £50,000 confiscation order was made when an investigation by the Official Receiver found a young woman had hidden properties In July 2009, following an investigation into her finances,  the bankrupt admitted she had failed to disclose that she owned two properties in Surrey and that she had obtained credit to the extent of £17,000 while bankrupt.   Following the investigation criminal proceedings were brought against her which ended in court in March 2010 with a £50,000 confiscation order being made.   Concluding the case the Judge agreed the bankrupt had abused the insolvency regime that was in place to assist her.15 June 2010 17:30

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HM Revenue & Customs (HMRC) is issuing a reminder to businesses affected by new online filing requirements for VAT returns.

Under the new rules, existing VAT-registered businesses with annual turnovers of £100,000 or more (excluding VAT), and any businesses which registered for VAT from 1 April 2010, now have to file their VAT returns online and pay their VAT electronically.
The vast majority of traders file their VAT returns quarterly, and the first quarterly returns affected by the changes are those covering April to June 2010, which – for most online filing customers – must be filed online by 7 August.
Stephen Banyard, Director of HMRC’s Business Customer Unit, said:
“The vast majority of customers affected by the new arrangements have already enrolled for HMRC’s VAT Online service, and many have also filed their first returns online.
“However, if you’re a VAT-registered trader who’s affected by these changes, and you haven’t yet signed up, you need to take action now.”
Customers wishing to sign up for the VAT Online service should go to the HMRC website – www.online.hmrc.gov.uk/registration.htm – and follow the instructions on the screen.
There is more information about the registration process on the HMRC website, including an online demonstrator and two downloadable Beginner’s Guides, at the following address: www.hmrc.gov.uk/vat/vat-online/index.htm.
Issued by HM Revenue & Customs Press Office

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HM Revenue & Customs (HMRC) has launched a series of new online videos to help tax credit claimants through the annual renewal process.

Every year, claimants must renew their tax credit awards by 31 July, or their payments stop.
The interactive, bite-sized videos take viewers through the renewal process step-by-step, offering the chance to tailor the help to their own circumstances. The videos cover key areas such as: checking the accuracy of the information in your renewals pack; notifying HMRC of any changes in circumstances you haven’t already reported during the year; and providing details of your previous year’s income.
The videos are available – as well as lots of other help and information on tax credit renewals – from the DirectGov website at direct.gov.uk/renewyourtaxcredits.
HMRC’s Director of Benefits and Credits, Steve Lamey, said:
“These new videos are a great way of getting help and advice on renewing your tax credits, and should be able to answer any questions you may have about the renewals process.
“Once you’ve received your pack, please don’t put it off – renew straight away. The sooner you renew, the sooner we can make sure you’re receiving the right money.”

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Registration with the Vetting and Barring Scheme (VBS) will be halted to allow the Government to remodel the scheme back to proportionate, common sense levels, it was announced today.

Voluntary registration with the VBS for new employees and job-movers working or volunteering with children and vulnerable adults was due to start on 26 July. This registration has now been stopped.
The Government recognises that many businesses, community groups and individuals see the current scheme as disproportionate and overly burdensome, and that it unduly infringes on civil liberties.

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The removal of broken down lorries from the motorway network should now be even easier to manage - thanks to an agreement between the Highways Agency’s National Vehicle Recovery Service (NVRS) and the Road Haulage Association (RHA).

The NVRS, which reaches its first full year of operation in July, has started a ‘hotkey’ trial in its regional control centres to ensure the RHA is alerted as quickly as possible when one of its members is involved in a breakdown or incident which disables a truck.
Since last year, as part of the Agency’s National Vehicle Recovery Service, Highways Agency Traffic Officers have had the responsibility for dealing with abandoned, broken down and accident-damaged vehicles on England’s motorway network
Where there is no immediate danger to other road users, Traffic Officers will always allow drivers to specify their own suitable private arrangements.
New communication arrangements - involving RHA Rescue, the RHA's own member recovery service - are now being trialled to give RHA Rescue members the opportunity to access their suitable private arrangements as easily as possible
The trial involves installing a 'hotkey' in each of the Highways Agency's seven regional control centres (RCCs) across the country from where control room Traffic Officers manage incidents on the motorway network.
The new ‘hotkey’ in each RCC allows Traffic Officers, liaising with their on-road patrols, to alert RHA Rescue to incidents where one of their members has specified the RHA Rescue scheme as their suitable private arrangement for assistance when their vehicle is disabled.
If Traffic Officers are told a driver is a member of RHA Rescue after they have come across broken down or accident-damaged  lorries – and provided there is no immediate risk to other road users – they will ask control room colleagues to hit the ‘hotkey’ and alert RHA Rescue instantly.
The trial is being seen as a way of getting own-arrangements recovery underway as quickly as possible - helping Traffic Officers clear the motorways of a potential accident and congestion hazard.
National Vehicle Recovery Service manager Gary Bacon said, “The RHA represents around 10,000 members in the haulage and freight industry and is one of the Highways Agency’s key stakeholders.    Our motorway and trunk road network carries two-thirds of all heavy freight traffic in England and the Highways Agency’s work to provide safer, more reliable journeys is crucial to business and industry.”
RHA Rescue endeavours to get a specialist or recovery agent to the scene within an hour and the ‘hotkey’ will be used to speed up communications between the Highways Agency, the RHA and the lorry driver.
Mr Bacon added, “This new hot key arrangement with the RHA, linking Traffic Officers to RHA Rescue’s 24/7 service centre, is part of our work to provide safer, more reliable journeys. 
“The new arrangements will also provide two-way communications between our control rooms and RHA Rescue, giving our Traffic Officers better intelligence on recovery times and arrangements.  This should speed up the whole recovery process, clearing the road for other drivers.”
Geoff Dunning, Chief Executive Officer of the RHA, said, “The RHA warmly welcomes the Hot Key service and sees it as encompassing two important issues.  Firstly, there is the safety and security of the driver of the broken down vehicle.  The Hot Key will provide a direct link to the RHA Rescue's 24/7 service centre thereby ensuring that help is at hand as quickly as possible. 
“Secondly, there is cost effectiveness – when time is money, the speedy recovery of a vehicle is of paramount importance to both the driver and the employer. To that end the RHA considers the Hot Key really will get the operator’s show back on the road.”
Last year, Nikki King, chair of the RHA’s Recovery Members Committee, said she was impressed with the enthusiasm and dedication of Highways Agency Traffic Officers after spending three hours on patrol with a crew from Coldharbour Outstation in Kent.
A fortnight ago Nikki, and Ray Coleman, of Lantern Recovery Specialists PLC – which manages recovery operations for RHA Rescue – visited South Mimms RCC, headquarters of the East Highways Agency Traffic Officer Service, to see the ‘hotkey’ in action for themselves.

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Compulsory English language tests will be introduced for migrants applying to come to the UK to join their partner or marry, the Government announced today.

From Autumn 2010 all non-European migrants will have to demonstrate a basic command of English that allows them to cope with everyday life before they are granted a visa.
The rules will apply to spouses, civil partnerships, unmarried couples, same sex partners and fiancés, and will be compulsory for people applying from within the UK, as well as visa applicants from overseas.
Home Secretary Theresa May said:
"I believe being able to speak English should be a pre-requisite for anyone who wants to settle here. The new English requirement for spouses will help promote integration, remove cultural barriers and protect public services.
"It is a privilege to come to the UK and that is why I am committed to raising the bar for migrants and ensuring that those who benefit from being in Britain contribute to our society.
"This is only the first step. We are currently reviewing English language requirements across the visa system with a view to tightening the rules further in the future.
"Today’s announcement is one of a wide range of measures the new Government is taking to ensure that immigration is properly controlled for the benefit of the UK, alongside a limit on work visas and an effective system for regulating the students who come here."
Anyone wishing to come to the UK as a spouse will have to demonstrate basic English at A1 level, the same level required for skilled workers admitted under the Skilled Tier of the Points Based System.
A spouse coming from outside Europe will need to provide evidence to the UK Border Agency with their visa application that they have passed an English language test with one of the UK Border Agency’s approved test providers.
Under the current rules spousal visa applicants already have to meet a range of criteria before being allowed to enter the UK. All applicants must show their marriage or partnership is genuine and that they can support themselves financially.
Whether you are married in the UK or overseas, the non-UK partner must apply for a two year settlement visa to come and live in the UK as a spouse. At the end of the two years they can apply to the UK Border Agency for indefinite leave to remain.
Spouses applying for indefinite leave to remain after completing their two-year period of temporary residence will still need to fulfil the Knowledge of Life and Language in the UK Test. This is in addition to this new basic English language requirement which forms part of their initial application.

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Business is seeing savings from the Primary Authority scheme operated by LBRO, the independent technical expert on better local regulation.

For companies operating under two or more local councils, the Primary Authority scheme, set up under the Regulatory Enforcement and Sanctions Act, provides reliable and consistent advice from a single source when dealing with environmental health, trading standards, health and safety, and licensing services. 
Currently, businesses run the risk of prosecution, even if they follow official advice, if local inspectors disagree about how to interpret regulations. This can also result in discrepancies in protection for consumers, workers and the environment.
80 businesses covering more than 18,000 premises currently have a primary authority partnership with a local authority, as a gateway to simpler, more successful local regulation, based on new relationships.
Supermarket chain Asda signed up to primary authority with Wakefield Council in November 2009. Their Trading Law Manager, Stuart Wiggins, said: "Primary Authority delivers the consistency of advice from regulators that businesses need to operate efficiently, particularly if they are national operators. Having one local authority as a single point of contact saves time by providing advice and guidance to other enforcers on national policies and procedures and assists with a risk-based approach to enforcement. This reduces the regulatory burden, saves costs and helps business be more competitive."
Organic food firm Daylesford Organics and West Oxfordshire District Council have become the latest partnership to pioneer the scheme that will reduce time and money spent on administration, and make it simpler to deliver safe products to customers.
John Lewis, Pret A Manger, Debenhams, House of Fraser, Selfridges, Penguin Books, Rank Group PLC and Enterprise Inns, have all signed up to primary authority partnerships with Westminster City Council, making Westminster the largest Primary Authority in the UK.

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Business is being urged to contribute to a new risk-based approach to national regulations, which will help reduce the burden on them and benefit consumer protection at the same time.

The call comes from LBRO, the public body tasked with refreshing the national enforcement priorities in England, and is backed by the British Chambers of Commerce. BCC policy advisor Steve Hughes said: “Reducing administrative burdens on business is high on our members’ wish list. A risk-based approach, with the focus on outcomes rather than ticking boxes, is key to addressing issues relating to red tape. "The economic climate has altered considerably since the current priorities in regulation were set, and the change of emphasis makes good sense." The priorities, which can cover a huge range of activity ranging from food safety to trading standards, were last set in 2007 when five areas were selected: air quality, alcohol licensing, hygiene of food businesses, improving health in the workplace and fair trading. LBRO Chairman Clive Grace said: "This is a prime opportunity for business to help shape the regulatory landscape, and focus efforts to protect the public. We would welcome contributions from the business community in addition to our work with local and national regulators in identifying particular areas for concern. LBRO, which is responsible for improving how local regulation works, has recently completed work with the Welsh Assembly Government on enforcement priorities for Wales, which proved the value of having a wide range of input including from an expert 'user' group of representatives from local authorities and professional bodies. The work is evidence-based and LBRO will gather evidence during this summer, with the priorities to be published in draft form for consultation in the autumn. Following consultation, the final priorities are expected to be put before ministers early in 2011.

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Business Secretary Vince Cable today announced an action plan to bring an end to the excessive regulation that is stifling business growth.

He detailed the first phase of the Coalition Government’s action plan to reduce regulation following the Prime Minister’s commitment last week to “re-open Britain for business”.
The action plan:
 ·  Creates a new Cabinet “Star Chamber” that will lead the Government’s drive to reduce regulation which is stifling growth, especially of small businesses. This Reducing Regulation Committee will be chaired by the Business Secretary and will enforce a new approach to new laws and regulations, ensuring that their costs are being properly addressed across the entire British economy.
 ·  Announces an immediate review of all regulation in the pipeline for implementation which has been inherited from the last Government. The cost of implementing this amounts to £5bn annually before April 2011 and £19.1bn per annum thereafter. This will be the first action for the new Cabinet committee.
 ·  Establishes a new “challenge group” to come up with innovative approaches to achieving social and environmental goals in a non-regulatory way.  This team would work with experts including Richard Thaler, the US behavioural economist.
 ·  Introduces a new approach that will control and reduce the burden of regulation.  A “one-in, one-out” approach, designed to change the culture of government, would make sure that new regulatory burdens on business are only brought in when reductions can be made to existing regulation. 
 Business Secretary Vince Cable said:
“The deluge of new regulations has been choking off enterprise for too long. We must move away from the view that the only way to solve problems is to regulate.
“The Government has wide-ranging social and ecological goals including protecting consumers and protecting the environment. This requires increased social responsibility on the part of businesses and individuals.
“This is a real challenge and it will not be easy. We need to reduce regulation and at the same time meet our social and environmental ambitions. This demands a radical change in culture away from the tick box approach to regulation only as a last resort. It’s a big task but one worth striving for.”

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The government-funded Leasehold Advisory Service provides completely free, in-depth and legal advice online, on the 'phone or face to face.

It seems only yesterday that the cry was that owners of leasehold flats had no idea where to go for advice when things went wrong with the landlord, managing agent or neighbours.  Now they can find themselves overwhelmed by the results of a Google search and spend hours online  – but often end up no wiser for all that.
Online ‘entrepreneurs’ are fighting for dominance of the online space for leaseholders with commercial web sites offering information on block management, service charges etc  that often adds up to no more than a cursory summary.
Meanwhile, the government-funded Leasehold Advisory Service continues to provide free, in-depth and personal legal advice, not just bland, caveated overviews of the law. It’s web site has useful search functions fast-tracking users to answers to the most frequently asked questions, and all of its detailed and definitive publications are available to view and download.  The web site works in tandem with a free telephone advice service that  is manned by a team of qualified solicitors and non-practising barristers.
“Our goal is to ensure that a visitor to our web site comes away with a clear understanding of the issues facing them and of the way forward, not just an even longer list of questions, “ says LEASE chief executive Anthony Essien.
Last year, LEASE dealt with some 25,000 personal enquiries from leaseholders, freeholders, managing agents and professional advisers and hosted nearly half a million web visitors. Subjects searched for  included enfranchisement (buying the freehold), lease extension, the leaseholders’ right to manage the block themselves, disputes between leaseholders and managing agents and, of course, service charges.
Find LEASE (The Leasehold Advisory Service) at www.lease-advice.org or call them on 020 7354 5380

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A new fast-track procedure for approving international patent applications that will cut waiting times by more than a year has been launched today.

Prime Minister David Cameron announced the new scheme during his speech in Leeds today, which set out his vision for transforming the UK economy.
The Intellectual Property Office (IPO) today introduced the scheme to help tackle the worldwide backlog of patent applications, which costs the global economy an estimated £7.6 billion a year.  The UK is among the first to introduce such a fast-track scheme.
The Prime Minister said: “Today we announce a new fast-track system for international patents to reduce the global backlog which stifles growth and enterprise and costs the global economy £7.6 billion for every year patents are delayed.”
Intellectual Property Minister Baroness Wilcox welcomed the announcement.
She said:
“Innovation is one of the main driving forces for Britain’s economic recovery.  Delays in dealing with patent applications prevent firms from expanding and creating new jobs.
“It is essential that businesses can take ideas from the drawing board to the market as quickly as possible.  Securing a patent is an integral part of that process.
“The new fast-track procedure will make it quicker for business to turn innovation and ideas into products and jobs.
“Britain is leading the way in identifying and dealing with the patent backlog.  I hope other countries will establish similar fast-track schemes to tackle this problem.”
The new procedure will apply to applications filed under the international Patent Cooperation Treaty (PCT).  The UK is one of 142 countries which have signed up to the Treaty.
Under the PCT, applications undergo a preliminary assessment of their patentability before being passed to individual nations to consider the details.  The Treaty aims to stop work being duplicated when an applicant wants patent protection for the same invention in several countries.
Now businesses and individuals can apply for their application to be dealt with under the PCT (UK) Fast-Track when it has been approved in the international phase. 
Applicants requesting the fast-track service will receive an examination report within two months.  Under current timescales this could take more than 18 months.
The examination report will either approve the application or detail any changes needed before a UK patent can be granted.  Any substantial issues will have been addressed in the international phase.
The UK is among the first to introduce a fast–track procedure.  It is hoped other countries will establish similar schemes to encourage applicants to make full use of the international phase.  This will help deal with the global backlog of patent applications.
The new scheme will work in the same way as the IPO’s existing fast-track procedures, which include the ‘Green Channel’ for inventions with environmental benefits.

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The National Identity Register, the database which contains the biographic and biometric fingerprint data of card holders, would also be destroyed by the first piece of legislation introduced to Parliament by the coalition government.

Home Secretary Theresa May said:
"This bill is a first step of many that this government is taking to reduce the control of the state over decent, law-abiding people and hand power back to them.
"With swift Parliamentary approval, we aim to consign identity cards and the intrusive ID card scheme to history within 100 days.”
Deputy Prime Minister Nick Clegg said:
"The wasteful, bureaucratic and intrusive ID card scheme represents everything that has been wrong with government in recent years. "By taking swift action to scrap it, we are making it clear that this government won't sacrifice people's liberty for the sake of Ministers' pet projects. "Cancelling the scheme and abolishing the National Identity Register is a major step in dismantling the surveillance state - but ID cards are just the tip of the iceberg. Today marks the start of a series of radical reforms to restore hard-won British freedoms."
The Identity Documents Bill is part of a first wave of priority legislation set out in the Queen’s Speech on 25 May. The Bill invalidates the identity card, meaning that holders will no longer be able to use them to prove their identity or as a travel document in Europe.
The government aims to have the Bill pass through Parliament and enacted by the Parliamentary recess in August, in a move that will save the taxpayer around £86m over the next four years once all cancellation costs are taken into account. It would also avoid around £800m of ongoing costs over the next ten years which were to be recovered through fees.
The Identity and Passport Service will inform customers, overseas governments, borders and airports of the change in law as soon as the Bill gains Royal Assent.
The role of the Identity Commissioner would also be terminated. The public panels, designed to scrutinise the identity cards scheme, have already been disbanded.

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Business can shape new risk-based regulations.
Business is being urged to contribute to a new risk-based approach to national regulations, which will help reduce the burden on them and benefit consumer protection at the same time.  More

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Business Secretary Vince Cable today announced an action plan to bring an end to the excessive regulation that is stifling business growth.  More

The government-funded Leasehold Advisory Service provides completely free, in-depth and legal advice online, on the 'phone or face to face.  More

A new fast-track procedure for approving international patent applications that will cut waiting times by more than a year has been launched today.  More

The National Identity Register, the database which contains the biographic and biometric fingerprint data of card holders, would also be destroyed by the first piece of legislation introduced to Parliament by the coalition government.  More

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Hotkey to Help HGV Removals
The removal of broken down lorries from the motorway network should now be even easier to manage - thanks to an agreement between the Highways Agency’s National Vehicle Recovery Service (NVRS) and the Road Haulage Association (RHA).  More

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Migrants marrying UK citizens must now learn English
Compulsory English language tests will be introduced for migrants applying to come to the UK to join their partner or marry, the Government announced today.  More

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LBRO is helping business save money and prosper
Business is seeing savings from the Primary Authority scheme operated by LBRO, the independent technical expert on better local regulation.  More