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1122699

	registered interest
	date	24/04/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Insolvency: Tax Collection
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what discussions his Department had with (a) HMRC and (b) the Treasury on the decision to make HMRC a secondary preferential creditor in insolvencies (i) before and (ii) after the Chancellor announced the policy at the 2018 Budget .
	tabling member constituency	Stockton North
	tabling member printed	Alex Cunningham
	uin	247036
	answer	answer is ministerial correction date of answer 01/05/2019 answer text <p>Insolvency Service officials regularly meet with officials from HMRC and HM Treasury on a wide range of policy issues which has included, from time to time, the position of HMRC as a creditor in insolvency proceedings. Since the 2018 Budget, officials have had a number of discussions leading up to the publication of the “Protecting Your Taxes in Insolvency” consultation on 26 February this year. The consultation closes on 27 May.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst question first answered 01/05/2019 16:03:38 answering member 4487 label Biography information for Kelly Tolhurst
	tabling member	4122 label Biography information for Alex Cunningham

1122700

	registered interest
	date	24/04/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Insolvency: Tax Collection
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the effect on (a) business lending and (b) business rescue of the decision at the 2018 Budget to make HMRC a secondary preferential creditor in insolvencies.
	tabling member constituency	Stockton North
	tabling member printed	Alex Cunningham
	uin	247037
	answer	answer is ministerial correction date of answer 01/05/2019 answer text <p>The Government published an assessment of the impact of the decision to make HMRC a secondary preferential creditor in insolvencies in the “Protecting Your Taxes in Insolvency” policy paper issued with the Budget on 29 October 2018. The Government is currently consulting on the detailed policy design for this measure to ensure the changes work as intended. The consultation closes on 27 May and the Government is encouraging financial services businesses, lenders and insolvency practitioners to respond.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst question first answered 01/05/2019 16:03:49 answering member 4487 label Biography information for Kelly Tolhurst
	tabling member	4122 label Biography information for Alex Cunningham

1122701

	registered interest
	date	24/04/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Insolvency
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what progress his Department has made in progressing its proposed reforms to the corporate insolvency framework; and when he plans to bring forward legislative proposals on implementing those reforms.
	tabling member constituency	Stockton North
	tabling member printed	Alex Cunningham
	uin	247038
	answer	answer is ministerial correction date of answer 02/05/2019 answer text <p>In August 2018 the Government published its response to the 2016 ‘Review of the Corporate Insolvency Framework’ consultation and 2018 ‘Insolvency and Corporate Governance’ consultation. The Government outlined in its response its intention to proceed with a comprehensive package of reforms aimed at improving the prospects of company rescue for financially distressed companies, while improving corporate governance to ensure those affected by a company’s financial difficulties are treated fairly.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst question first answered 02/05/2019 12:59:45 answering member 4487 label Biography information for Kelly Tolhurst
	tabling member	4122 label Biography information for Alex Cunningham

1122702

	registered interest
	date	24/04/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Insolvency
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what public consultation his Department is undertaking with the insolvency and restructuring profession on his Department’s proposed reforms of the corporate insolvency framework.
	tabling member constituency	Stockton North
	tabling member printed	Alex Cunningham
	uin	247039
	answer	answer is ministerial correction date of answer 01/05/2019 answer text <p>The Government regularly consults with and discusses matters of policy with a wide range of stakeholders in order to deliver effective, evidence-based reforms. This reflects the Government’s commitment to open and consultative policy making.</p><p> </p><p>In August 2018 the Government published its response to the 2016 ‘Review of the Corporate Insolvency Framework’ consultation and 2018 ‘Insolvency and Corporate Governance’ consultation. The Government outlined in its response its intention to proceed with a comprehensive package of reforms aimed at improving the prospects of company rescue for financially distressed companies, while improving corporate governance to ensure those affected by a company’s financial difficulties are treated fairly.</p><p> </p><p>Since publication of the response, officials have continued to consult with a range of interested parties, including representatives from the insolvency and restructuring profession, on the detail of the proposed reforms.</p><p> </p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst question first answered 01/05/2019 16:03:59 answering member 4487 label Biography information for Kelly Tolhurst
	tabling member	4122 label Biography information for Alex Cunningham