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National Statistics: Insolvency Statistics: October to December 2017

This statistics release contains the latest data on company insolvency (companies which are unable to pay debts and enter liquidation, or enter administration or other company rescue process) and individual insolvency (people who are unable to pay debts and enter formal procedures). Statistics are presented separately for England and Wales, Scotland, and Northern Ireland because of differences in legislation and policy.

Main messages Companies in 2017 The underlying number of company insolvencies increased in 2017, driven by a rise in creditors’ voluntary liquidations. All other types of company insolvency decreased compared with 2016. People in 2017 Total insolvencies rose for the second consecutive year, returning to the levels seen in 2013 and 2014. This increase was driven by individual voluntary arrangements, which reached the highest recorded annual total. Latest quarter (Q4 2017) Company insolvencies increased because of a bulk insolvency event, but the underlying number of company insolvencies decreased. Individual insolvencies remained stable compared with the previous quarter. Advance notice of change of methods

In accordance with our revisions policy, we are pre-announcing a planned change to the method used to calculate the number of company insolvencies each quarter. Currently, company insolvencies are counted from the date the insolvency started, with statistics for the most recent quarter being an estimate based on incomplete data. Recent instances of bulk insolvencies of connected companies have had an impact on the quality of these initial estimates.

To address this, from April 2018, most company insolvencies will be counted from the date of registration. This means that statistics will no longer be estimated and then revised between quarters, and we will be able more readily to identify and account for bulk insolvencies.

Further information about this change is available on our website.

If you have comments or feedback regarding this change, please contact the Insolvency Service’s statistics team via email at statistics@insolvency.gsi.gov.uk

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Official Statistics: Individual voluntary arrangement outcomes and providers 2017

Main Message The percentage of IVAs failing within the first two years has increased. Over 10% of IVAs registered in 2010 and 5% in 2009 were still ongoing, having started around 7 or 8 years earlier. Ten IVA providers accounted for over 80% of new IVAs registered in 2017. […]

National Statistics: Change to the method for statistics on company insolvencies

In accordance with our revisions policy, we are pre-announcing a planned change to the method used to calculate the number of company insolvencies each quarter.

Currently, company insolvencies are counted from the date the insolvency started, with statistics for the most recent quarter being an estimate based on incomplete data. Recent instances of bulk insolvencies of connected companies have had an impact on the quality of these initial estimates.

To address this, from April 2018, most company insolvencies will be counted from the date of registration. This means that statistics will no longer be estimated and then revised between quarters, and we will be able more readily to identify and account for bulk insolvencies.

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MPs to investigate Carillion auditors and board over ‘disaster in the making’

MPs from two House of Commons select committees have launched an investigation into the Carillion collapse, which will also focus on auditors and the actions of the company’s board.

The post MPs to investigate Carillion auditors and board over ‘disaster in the making’ appeared first on Board Agenda.

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Ironbridge Gorge Museum – Chair of the Board of Trustees

Chair of the Board of Trustees – Ironbridge Gorge Museum Recruiter: IRONBRIDGE GORGE MUSEUM Location: Shropshire Salary: Unremunerated position, but reasonable expenses can be paid Posted: 24 Jan 2018 Closes: 21 Feb 2018 Sectors: Media & Digital Media Contract Type: Permanent Hours: Part Time Founded in 1967, the Ironbridge Gorge Museum Trust Ltd is a registered […]

The post Ironbridge Gorge Museum – Chair of the Board of Trustees appeared first on NEDworks.

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Artificial Intelligence: the ethical dimension

Businesses are racing to embrace the use of artificial intelligence in their products and services, but there is a right and wrong way to use it, argues Philippa Foster Back of the Institute of Business Ethics.

The post Artificial Intelligence: the ethical dimension appeared first on Board Agenda.

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Bank of England – Non-Executive Director

Non-Executive Director – Bank of England Body: Bank of England Appointing Department: HM Treasury Sectors: Business, Finance & Skills, Regulation Location: The Bank of England, 1 Threadneedle Street, London Skills required: Accountancy, Audit and Risk, Business / Commercial, Regulation Number of Vacancies: 1 Remuneration: Non-Executive Directors receive remuneration of £15,000 a year. Non-Executive Directors that […]

The post Bank of England – Non-Executive Director appeared first on NEDworks.

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Meller quits Department for Education role over Presidents Club scandal

Sordid details about the treatment of hostesses at a men-only charity event, co-chaired by David Meller, has seen him quit the education department’s board.

The post Meller quits Department for Education role over Presidents Club scandal appeared first on Board Agenda.

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GDPR and staff data: the final countdown

General Data Protection Regulation comes into force in May, with sweeping new requirements for businesses that handle personal data.

The post GDPR and staff data: the final countdown appeared first on Board Agenda.

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Detailed guide: Carillion: information for employees, sub-contractors, creditors and suppliers

On 15 January 2018, winding up orders were made against Carillion Plc and associated companies. The court appointed the Official Receiver as the liquidator.

PwC has been appointed as special managers to assist the Official Receiver carry out his duties.

The companies involved in the liquidation are:

Carillion Plc, company number 03782379 Carillion Construction Ltd, company number 00594581 Carillion Services Ltd, company number 02684154 Planned Maintenance Engineering Ltd, company number 00737307 Carillion Integrated Services Ltd, company number 03679838 Carillion Services 2006 Ltd, company number 03011791

On 25 January 2018 the following companies were also wound up with the Official Receiver appointed as liquidator, with PwC appointed as special managers:

Carillion Energy Services Limited, company number 03858865 Carillion Asset Management Limited, company number 01122808 Carillion LGS Limited, company number 03198709

On 19 January 2018 PwC were appointed provisional liquidator of Carillion (AMBS) Limited (company number SC020258).

Update on Carillion’s contracts The Government has provided funds to ensure continuity of public services. Employees will be employed on the same terms and conditions as before and should continue to turn up for work 90% of private sector clients have indicated that they want Carillion to continue providing services in the interim until new suppliers can be found. Those companies will offer employment on the same terms and conditions as before and employees should continue to turn up for work until notified otherwise Work has paused on all private and public construction sites, pending decisions as to how and if they will be restarted. What contracts did the Government hold with Carillion?

Government contracts with Carillion include services for hospitals, schools, prisons and transport. Carillion delivered around 450 contracts with government, representing 38% of Carillion’s 2016 reported revenue.

Key central government contracts are held with Department for Education, Department for Health and Social Care, Ministry of Justice and Department for Transport. These are not the cause of the company’s present financial difficulties.

Further information

PwC have set-up a dedicated website and helpline: 0800 063 9282 to provide information for anyone affected.

Information for Carillion employees Am I still expected to go into work?

Yes. People employed directly by Carillion should continue to go into work as normal and they will be paid their salary as usual.

No one has been dismissed. Employees will be notified about any changes should they happen, with as much as notice given as possible.

What about my pension?

Anyone worried about their pension situation can ring The Pension Advisory Service (TPAS) on 0300 123 1047 for free and impartial guidance.

TPAS has also set up a special helpline number for members of these pension schemes: 020 7630 2715. Those already receiving their pensions will continue to receive payment.

Where can I go for support?

JobCentre Plus, through its Rapid Response Service, is ready to support any employee affected by this announcement.

Support could include:

helping people facing redundancy to write CVs and find jobs providing general information about benefits helping people to find the right training and learn new skills helping with costs like travel to work expenses. I’m at risk of losing my job – can I claim benefits?

There is information available online to help you understand what benefits you can claim and provide you with further useful sources of help and support.

This information can be accessed online. If you don’t have access to a computer or the internet you can use these at a Jobcentre or library. Call 0800 771 234 to find out more.

What can I claim?

What benefits you can claim depends on where you live and your circumstances. You may be able to claim Universal Credit – www.gov.uk/universal-credit, Jobseeker’s Allowance – www.gov.uk/jobseekers-allowance, or other benefits.

If you are unsure what you can claim, you can use a benefit calculator – www.gov.uk/benefits-calculators.

What happens if I make a claim to benefit and when will I be paid?

Depending on what benefit you claim, you will usually need to attend an interview at your local jobcentre within a few days of the claim being made. They will be able to tell you when you can expect to receive your first payment.

If you claim Universal Credit it usually takes 5 to 6 weeks for a new claim to be assessed and your first payment to arrive. If you need help with your living costs while you wait for your first payment, you can apply for an advance – www.gov.uk/guidance/universal-credit-advances.

Can I make a claim before I am made redundant?

If you know that your employment is going to end on a specific date, you may be able to claim benefit in advance of this date.

For more information about what you can claim and how to make a claim go to www.gov.uk/benefits-calculators

I still have a contract but haven’t been paid anything. Can I claim benefits?

Yes. If you are under a contract of service with your employer and there is no work, or less work, available, you can make a claim based on your circumstances at the time of making that claim.

For more information go to www.gov.uk/benefits-calculators

I’m on a zero hours contract – can I claim anything?

You may be able to make a claim for benefit depending on the amount of work you get to do and the earnings you receive.

To find out more go to www.gov.uk/benefits-calculators .

I’ve been put on Short Time/ my hours (and wages) have been reduced. Can I claim benefits?

If you are put on short time working (STW) by your employer (working less days than usual), you can make a claim to benefits but what you can get will depend on either the number of hours you work and/or the earnings you get, along with your other personal circumstances.

If you can claim Universal Credit it will be worked out using the earnings you receive. If you need to claim Jobseeker’s Allowance you must not be working 16 hours or more per week on average or have earnings that exceed a set amount.

To find out more about the benefits you could claim go to www.gov.uk/benefits-calculators .

I’m self-employed – can I claim benefits?

You can make a claim but to work out if you can be paid anything you will be asked to provide details of your self-employment and the income you are receiving from it.

To find out more about the benefits you could claim go to www.gov.uk/benefits-calculators .

If you are able to claim Universal Credit you can find out more about how your self-employment is taken into account at www.gov.uk/self-employment-and-universal-credit

What if I’m already claiming Universal Credit or Jobseeker’s Allowance and my earnings go down or stop?

If you are claiming benefit and there is a change to your circumstances you should report the change straight away

If you are already claiming Universal Credit this would usually increase if your earnings are lower than they have been.

Jobcentre Plus is not responsible for the contents, advice or information provided or the reliability of listed websites. Websites are used at your sole risk. Information contained is correct at the time of publishing. Calls to the 0800 listed numbers are free from landlines and mobiles.

Further information

If you have any further questions, you can also contact the dedicated helpline: 0800 063 9282.

Information for apprentices

Work is on-going to ensure all apprentices on Carillion apprenticeships will not have their schemes disrupted.

Apprentices should continue to turn up for work for as normal and will be contacted should any arrangements have been changed.

If you are worried about your apprenticeship, The National Careers Service provides free, up to date and impartial information, advice and guidance on careers, skills and the labour market in England.

For more information, visit The National Careers Service or call a professional careers adviser on 0800 100 900 (8 am to 10pm daily).

Information for sub-contractors Will I get paid for the work I have done for Carillion?

Goods and services supplied with the Official Receiver’s agreement following the liquidation of Carillion will be paid in full.

Subcontractors and suppliers who are owed money for work undertaken for Carillion prior to its liquidation are unsecured creditors and will need to lodge a claim with the Official Receiver. A letter will be sent to suppliers shortly containing further instructions. It is to early to say if there will be any payments made.

Am I employed directly by Carillion?

Self-employed contractors and agency workers who provide services to the companies are not employed directly by Carillion. This means different procedures will apply to you regarding continuation of your contract or seeking redress should your employment have stopped.

Work has paused, however, on all construction sites, pending decisions as to how and if they will be restarted.

Should I return to work?

You should have been contacted by your usual operational point and if you have been asked to return to work, you will be paid for your services.

If you are unsure whether your contracts are continuing, you should call your usual operational points of contact in the Group and visit the website www.pwc.co.uk/carillion.

Am I entitled to the same benefits paid to Carillion staff?

Self-employed contractors and agency workers are not eligible to apply for redundancy payments should your contract have ceased.

I’m an employer and may have to make people redundant – is there any advice available?

Yes. The ACAS website has a useful information document at www.acas.org.uk/media/pdf/1/1/Redundancy-handling-accessible-version.pdf

Information for creditors

You will need to register as a creditor in the liquidation if:

you haven’t been paid for goods or services you’ve supplied to the Carillion companies in liquidation you have paid these companies for goods or services that you haven’t received

Once you have registered and the Official Receiver receives your proof of debt form they will add you to the list of creditors and include you on future correspondence about the case.

Information for suppliers

Customers, suppliers and sub-contractors should call their usual operational points of contact in the Group and visit the website www.pwc.co.uk/carillion.

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