Starting in practice as an Insolvency Practitioner
Taking steps to start in practice as an insolvency practitioner is not one which should be taken lightly. There are a whole range of personal, technical and regulatory matters to consider before making a final decision.
Even after the decision is taken the landscape within which an insolvency practitioner operates is highly complex.
Starting in Practice as an Insolvency Practitioner brings together a series of basic guides which can assist an insolvency practitioner who is considering starting up in practice to take an informed decision. It also provides a useful guide for those insolvency practitioners already in practice who may wish to ensure that they are considering relevant areas of best practice and current regulatory requirements.
Download: Starting in Practice as an Insolvency Practitioner (member login required).
Non ICAS authorised insolvency practitioners who wish to access the guide should contact ICASinsolvency@icas.com.
Starting in Practice as an Insolvency Practitioner covers the following areas:
- Have you the skill and the will?
- The insolvency practitioner’s practice
- Status of appointment taker
- Key points to consider
- IT – how much, how soon?
- Practice philosophy
- Your business plan
- Registration with HM Revenue & Customs
- Banking arrangements
- Insurance matters
- Health and safety
- Complaints procedures
- Planned and unplanned absences
- Education and training
- Exit strategy / succession planning
- Working in regulated areas
- Monitoring visits
- Continued professional development
- Anti money laundering
- Anti bribery
- Data Protection Sct
- Consumer credit licence
- Ethical considerations
- Oversight regulators and guidance
- Work provision
- Finding new clients
- Finding new work
- Buying a practice or block of appointments
- Administration of appointments
- Case progression and controls
- Legislation/SIPs/ guidance
- Use of advisors/agents/consultants
- Document storage and retention
- ICAS products services and resources
- Useful links/resources