Lord Flight

The proposed Directive on preventive restructuring frameworks, second chance and insolvency measures is currently still under negotiation in Brussels. Given this stage of the process and the ongoing negotiations on withdrawal from the EU, it is not possible to say whether, if adopted by the EU, the provisions would be implemented in the UK.

Similar proposals to those in the draft Directive were consulted on by the Government in the Review of the Corporate Insolvency Framework consultation published in May 2016. The consultation contained a package of proposals to improve the rescue opportunities for financially-distressed companies. A summary of responses to the consultation was published in September 2016 and the Government will set out the way forward for the proposals in its response later this year.

In May 2016 the Government published its Review of the Corporate Insolvency Framework consultation. The consultation contained a package of proposals to improve the rescue opportunities for financially-distressed companies. A summary of responses to the consultation was published in September 2016.

Following the publication of the summary of responses, the Government has continued to engage with a range of interested parties to further discuss and explore issues raised in responses to the consultation. This further engagement will ensure that any reforms, if necessary, will be fit for purpose and best achieve the Government’s aims of rescuing distressed but viable businesses, preserving economic value and saving jobs.

The Government will set out the way forward for the proposals in its response later this year.

The exact future relationship between the EU and UK on civil judicial cooperation, including the recognition of insolvency and restructuring procedures and judgments, is subject to negotiations with our EU partners. It is in the interests of the UK and the EU that there continues to be an effective, and fit for purpose, framework for resolving cross-border legal disputes. The Government has made clear that an effective framework of civil judicial cooperation is an important part of the deep and special partnership we want to establish with the EU.

The Government keeps the UK's corporate insolvency framework under review to ensure it is fit for purpose and in May 2016 published its Review of the Corporate Insolvency Framework consultation. A summary of responses to that consultation was published in September 2016 and the Government will set out the way forward for the proposals in its response later this year.

The Government is currently consulting on a package of insolvency and corporate governance measures to strengthen the responsibilities of directors of companies that are in or approaching insolvency in order to reduce the risk of major company failures and to ensure the UK remains one of the best places to start and grow a business. The consultation is open until 11 June 2018.

Although the UK Government is aware of these reports we have not made an assessment on their reliability. However, the UK Government remains concerned by reports of ceasefire violations in Nagorno-Karabakh and deeply regrets the loss of life caused by exchanges of fire between the parties to the conflict. During his meetings with the Azerbaijani Ambassador on 29 March and the Armenian Ambassador on 31 March, the Minister for Europe and Americas reinforced the urgent need for a diplomatic solution to ongoing tensions in the region to ensure stability and security.

On 14 June the Minister for the European Neighbourhood spoke to Azerbaijani Foreign Minister Bayramov. She welcomed the return of Armenian prisoners of war/detainees by the Azerbaijani Government and the subsequent handover of mine maps by the Armenian Government. We continue to monitor the situation and understand from Azerbaijani government reports that as of 9 June 2021, 27 Azerbaijanis have been killed and over 100 injured by explosive remnants of war. We are deeply concerned by this ongoing loss of civilian life.

The UK Government continues to urge both countries, most recently at the Organization for Security and Cooperation in Europe on 3 June, to work together to ensure that humanitarian organisations have unimpeded access to the region and that de-mining maps are urgently provided to ensure the safety of civilians. Last week the MOD sent Counter Explosives Experts to survey parts of Azerbaijan worst effected by unexplored ordnance to understand how the UK can best support Azerbaijan in this area.

The Save As You Earn (SAYE) scheme is a tax-advantaged employee share scheme offered by the Government.

A “bad leaver” from a SAYE scheme is a participant that does not meet the good leaver provisions as defined in the legislation at paragraph 34 of Schedule 3 to the Income Tax (Earnings and Pensions) Act 2003.

HMRC collects data at the points at which employees enter or leave SAYE schemes but this does not directly include data on “bad leavers”.

The Save As You Earn (SAYE) scheme is a tax-advantaged employee share scheme offered by the Government.

A “bad leaver” from a SAYE scheme is a participant that does not meet the good leaver provisions as defined in the legislation at paragraph 34 of Schedule 3 to the Income Tax (Earnings and Pensions) Act 2003.

HMRC collects data at the points at which employees enter or leave SAYE schemes but this does not directly include data on “bad leavers”.

The Save As You Earn (SAYE) scheme is a tax-advantaged employee share scheme offered by the Government.

A “bad leaver” from a SAYE scheme is a participant that does not meet the good leaver provisions as defined in the legislation at paragraph 34 of Schedule 3 to the Income Tax (Earnings and Pensions) Act 2003.

HMRC collects data at the points at which employees enter or leave SAYE schemes but this does not directly include data on “bad leavers”.

Statistics on repayments from the higher rate of SDLT on additional properties for 2016-17 are due to be published in July 2017.