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Cheshire


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Proof of debt and uncapitalised interest
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Hi all

I have to complete a proof of debt form.  Form asks for amount of uncapitalised interest amount.

I have seen some comments that this can only be included if there is a contractual right, but have no idea if this is still the case.

Formal demand was never made, but the usual in the event of non payment/interest will be added statement was included on all invoices.  Does this therefore allow the inclusion of such interest on this form.

The form is relating to a liquidation of said company so its the rules under The Insolvency Act I am concerned with.

Thanks 



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Cheshire


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Bump



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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Leger


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How many months gone are you?  biggrinbiggrin

Sorry I don't know the answer but you might get an answer by asking the question in the Insolvency forum on uk business forums.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Cheshire


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lol John!   biggrin

Never used that forum - might have a wander, although Ive posted it on Aweb too.  Although one answer was someone saying if its good I absolutely have retention of title, which frankly is a bit misleading! But its not good anyway Also pondering now on the fact my guy has a 12month contract so should be sticking them for that too, despite the fact that he might get so little back, then at least its a bit more!  



-- Edited by Cheshire on Tuesday 28th of June 2016 12:45:01 PM

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Onion4Sage


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Joanne,

I've no real experience in this area, however, I'd be inclined to add interest as provided for in the Late Payment of Commercial Debts (Interest) Act 1998. 8% above base rate for the period between the due date for each unpaid invoice and the date of liquidation, if I remember correctly.

If the liquidator doesn't agree that these are due, I would presume he would advise and disallow.

Regards,

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Ian

Ian Brown FCA
Onion Reporting Software Ltd

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Cheshire


Master Book-keeper

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Thanks Ian, Ive done that. Now its a waiting game. Bloomin annoying having to wait 6 months after each invoice for VAT even in the event of a liquidation. Oh well, thats the game I guess. Thanks again.

__________________

 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
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