All the information about insolvency risk scores, contingent assets and levy rules for 2021/22. Scroll down to access documents and online forms.
Dun & Bradstreet scores
For the 2021/22 levy year we'll be using insolvency risk scores produced by our insolvency risk partner Dun & Bradstreet.
The first monthly score used to calculate the levy will be generated in April 2020. You can view your scores in our portal and engage with customer services through different channels.
It’s important that D&B are using accurate information. In particular, if you previously self-submitted accounts to Experian, you will need to provide these to D&B as well.
You can arrange self-submission of accounts data to D&B by telephone in the first instance. Call 0345 600 2541 and select option 2.
Contingent asset document submission
We have amended our rules to reflect that supporting documentation relating to Contingent Assets (including guarantor strength reports) should be submitted to the PPF by email at [email protected].
The deadline for this documentation remains 5pm on 1 April, as in previous years.
Contingent assets provided by a company based in the EU
We’ve been asked whether trustees need to obtain a new legal opinion to recertify a contingent asset for the 2021/22 levy year. This is because the legal regime for enforcing English judgments in EU member states has changed following the end of the Brexit transition period.
What the levy rules require you to do:
- The changes brought about by Brexit affect the enforceability of contingent assets provided by a company or other entity domiciled in the EU. If you benefit from a contingent asset provided by an EU company it’s likely you’ll need to submit an updated legal opinion regarding the enforceability of that contingent asset when recertifying for the 2021/22 levy year.
- Our rules regarding contingent asset recertifications require that you, or someone acting on your behalf, certify on Exchange that the guarantee is a legally enforceable obligation of the guarantor. You’ll have to decide whether you need an updated legal opinion in order to give that certification on Exchange.
- It’s likely that you’ll need a new opinion on the discrete issue of enforceability. This is a result of the changes following the end of the Brexit transition period. The original legal opinion on enforceability is likely to have been given on the basis of the ‘Recast Brussels Regulation’, which no longer applies. You’ll need to consider this with your legal advisers, having regard to what was said in the original opinion about enforcement.
- If the new opinion is being sought because the legal position has changed we’ll accept a ‘short-form’ new opinion that refreshes the original opinion.. The legal opinion needs to be given by an ‘appropriately qualified person’.
- Where the guarantor is domiciled overseas, this will generally mean a lawyer qualified in the relevant overseas jurisdiction. Although we’ll accept an English legal opinion if the person giving the opinion is competent to do so on the issue of enforceability.
Final levy rules
We published our consultation on the levy rules for 2021/22 in September 2020, which set out our proposals for how we will calculate the levy for invoices issued in 2021. This was in addition to our consultation in December 2019 on insolvency risk services with Dun & Bradstreet.
Both of these consultations have closed and we have concluded our approaches in our policy statements:
Our final rules have also been published and can be found at the bottom of this page.
Alongside our final rules, we published draft guidance for commercial consolidators. We held a short consultation on the drafting of this guidance which has now closed. The final guidance has now been published and can be found alongside the other levy guidance documents on this page.