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Will I receive my full outstanding pay from The Insolvency Service?
June 30, 2020

This will depend on the level of your salary. There is a statutory maximum set by the Insolvency Service which as…

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Can Insolve Plus provide me with an update on my claim or speed up payment?
June 30, 2020

No.  Insolve Plus does not have details of the status of your claim and has no ability to speed up payment. …

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Who do I contact if I have not received my money?
June 30, 2020

You should contact the Government’s Insolvency Service as they are responsible for making payment to you.  However, the Insolvency Service request…

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How long does it take to receive the money?
June 30, 2020

This is dependent upon how busy the Government’s Insolvency Service is at the time.  Payments can take between two and twelve…

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How do I make a claim from the Government’s Insolvency Services?
June 30, 2020

This is done online via www.gov.uk/claim-redundancy

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Where can I get information on this?
June 30, 2020

The Insolvency Service has a helpful online factsheet www.gov.uk/government/publications/redundancy-payments-rp1-fact-sheet/what-to-do-when-youve-been-made-redundant 

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How do I get paid?
June 30, 2020

You make an online claim through the Government’s Insolvency Service.

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What happens if following the liquidation, it becomes apparent there are insufficient funds available to pay all creditors in full?
June 30, 2020

Should this situation occur, there are potentially serious consequences for the directors as a Declaration of Solvency has been sworn. The…

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Are there any tax implications for the shareholders?
June 30, 2020

There could be personal tax implications for the shareholders. We would suggest you seek independent taxation advice from a qualified professional…

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Can the shareholders receive assets instead of receiving a cash distribution?
June 30, 2020

Yes. This is known as a distribution in specie. As an example, properties are sometimes distributed in this way if the…

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