Former Labour MSP for Cunninghame North
Payment of RSA is usually paid in instalments and only after capital expenditure and job targets are met. Before final grant payment, claims confirming achievement of targets certified by an accountant independent from the company are required.
There is no strict legal definition of the term "phoenix companies". Each application for RSA is assessed on its own merits, against all of the scheme criteria. In assessing applications we consider a range of information including the background experience of key personnel.
We do not maintain records of this type.
The only company of which I am aware which has received Regional Selective Assistance grant and which has been referred to the Department of Trade and Industry’s Companies Investigations Branch is Simclar (Ayrshire) Limited, in administration. The administrators have a duty under the Company Directors Disqualification Act to report to the Insolvency Service on the conduct of the company’s...
No. There are, however, a number of sources which can be accessed to obtain additional information on companies. Such additional checks would depend upon the circumstances of the case.
In the last five calendar years, there were 780 offers of Regional Selective Assistance (RSA) accepted totalling over £290 million. In the same period the actual amount of RSA paid out was over £203 million and £22 million was recovered. There are cases where grant repayable has not been repaid in full. A table listing each company, the amount of grant due to be repaid, the actual grant...
All Regional Selective Assistance (RSA) grant agreements include legally enforceable conditions under which we can seek full or partial recovery of grant monies paid, should breaches of the grant agreement arise. Details of companies, in the last five calendar years, which have become subject to a legal process, after receiving RSA, are listed in the answer to question S2W-32570 on 29 March...
None. We are not aware of any companies in receipt of RSA which have not registered, if required to do so. Not all businesses need to register with HM Revenue and Customs.
