“The IRD’s got quite a lot of arrears that they need to collect in, which built up post-Covid when they were taking the more softly approach.
“Historically, they’re closer to an even split between themselves and all other creditors, but at the moment, they’re definitely making up a large portion of the applications.”
The ramp-up in the IRD’s debt enforcement has resulted in a significant increase in work landing on the Insolvency and Trustee Service (ITS), or the Official Assignee, which acts as the court’s default liquidator when no other firms take on an appointment.
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“They’ve seen a huge jump in their workload, particularly this year, because the IRD’s pushing so much work…