21. Records
Records
This section contains content published after 1 January 2020. Articles published before this date can be found on the National Archives here
The Insolvency Service receives requests from Insolvency Practitioners seeking permission to close cases when all their actions have been completed. Currently the Insolvency Service receives these requests on around 10% of all insolvencies.
With immediate effect, Insolvency Practitioners no longer need to write to the Insolvency Service to request permission to close the case.
However, where the Insolvency Service is still dealing with the case, for instance if a vetting decision is outstanding or an investigation is ongoing, then the Insolvency Practitioner must ensure that the company records and their own files are preserved until such time as the Insolvency Service advises that its actions are complete, or until any legal requirement to preserve records has expired, whichever is the later.
Any enquiries regarding this article should be directed towards email: intelligence.insolvent@insolvency.gov.uk