Dear Insolvency Practitioner,
In this, the Fifty Fifth of the “Dear IP (NI)” series, I should like to deal with the following issues:
- Notice of Change of Banking Provider
- IP Survey 2022 – Fees/ISAAC IP Portal User Guideline
1. Notice of Change of Banking Provider
The Insolvency Service is changing banking provider from Barclays Bank PLC to Danske Bank with effect from 1 February 2023.
All payments to the Insolvency Service from 1 February should be made to the Danske bank account.
There will be a changeover period of 1 month from 1 February 2023 to allow for the transition.
New Lodgement Books
New lodgements books were issued to IP offices with live cases in December 2022. If you have not received your new lodgement book/s please contact Central Accounting Unit as soon as possible. You should use the new lodgement books from 1 February 2023. Please destroy old lodgement books.
Making Lodgements in Danske Branches
CAU has a list of current Danske branches. Details are included at Appendix A.
IPs have the option of making lodgements in Danske branches at the counter or by using the fast lodgement facility.
IPs must always include the bank giro credit lodgement slip with their deposits. This slip includes the unique IP reference number which will then appear on the bank statement and will enable the Insolvency Service to relate the receipt to the correct IP.
IPs should also receipt the lodgement onto ISAAC/portal, ensuring to enter the bank giro credit lodgement slip reference. IPs should be mindful to use the correct code and description and if in doubt should contact CAU.
Where an IP is unable to attend a Danske branch to make a lodgement they will have the facility to post the cheques and giro credit lodgement slip to Danske Head Office at:Danske Bank
PO Box 183
When an IP is making a bank transfer or fast payment the reference that must be used is the Court Number of the case in the correct format, i.e. 20/121312. This aids with the automatic reconciliation, which in turn means the money is transferred to the estate account more quickly.
At the same time as the bank transfer/fast payment is made by the IP’s office, the IP should add the receipt to the ISAAC/portal. IPs should be mindful to use the correct code and description and, if in doubt, should contact CAU. The IP should also enter the bank giro credit lodgement slip reference onto ISAAC.
IPs do not need to take any further action or notify the mailbox once the receipt is added. CAU will contact them if there are any queries.
Third Party Receipts
When a payment is expected from a 3rd party the IP should email the Cashier Mailbox with the relevant information and the Insolvency Service will revert back regarding adding the receipt once the funds have been received (as per Dear IP 39). Emails should not be sent to individual mailboxes but to the following email address only: InsolvencyCAU.Cashier@economy-ni.gov.uk.
Any enquiries regarding this article should be directed towards Central Accounting Unit at InsolvencyCAU.Cashier@economy-ni.gov.uk, telephone 028 9054 8531
2. IP Survey 2022 – Fees/ISAAC IP Portal User Guidelines
In response to some queries raised in the IP 2022 Survey, the Insolvency Service would like to address:
a. Timing for the Charging of Fees
Fee B1/W1 is charged automatically at IP appointment.
Fee B2/W2 (or the older Fee 19/8) is charged in the weeks after an IP submits an R&P account, and then when they request that final fees be charged.
Banking fees were introduced in 2006 and are charged quarterly on 1 January, 1 April, 1 July and 1 October.
Cheque and BACS fees are charged only on release of a payment requested by an IP.
Please note that the Insolvency Service does not charge fees on the lodgement of asset monies.
Any enquiries regarding this article should be directed towards Susan Copeland, Central Accounting Unit, telephone 028 9054 8611, email email@example.com
2. ISAAC IP Portal User Guidelines
An ‘Insolvency NI Case Management IP User Guide’ is available and can be accessed by clicking on the ‘HELP Tab’ and selecting ‘Case Management’. The ‘Insolvency NI Case Management User Guide’ will open as a PDF document.
Any enquiries regarding this article should be directed towards Chris Nesbitt, Project Manager, telephone: 028 90548504, email: firstname.lastname@example.org
Appendix A - list of current Danske branches
- Shipquay Place, Londonderry
- Donegall Square West
- Kennedy Centre