Official Statistics

Individual Voluntary Arrangements Outcomes and Providers 2023

Statistics on the outcome status and providers of individual voluntary arrangements registered in England and Wales.

Applies to England and Wales

Documents

Data Tables in Excel (xlsx) Format - Individual Voluntary Arrangements Outcomes and Providers 2023

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Data Tables in Open Document Spreadsheet (ods) Format - Individual Voluntary Arrangements Outcomes and Providers 2023

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Details

  • In 2023, 64,050 IVAs were registered in England and Wales. This is lower than the record high number of 87,865 seen in 2022, and a reversal of the increasing trend in individual voluntary arrangement (IVA) numbers seen since 2015. Five firms accounted for more than half of new IVAs registered in 2023.

  • In England and Wales, one in 18 IVAs (5.6%) registered with the Insolvency Service in 2022 terminated within one year of being approved. This was similar to the one-year termination rate for IVAs registered in 2021, but higher than the record-low one-year termination rate in 2020, which coincided with temporary support measures in response to the COVID-19 pandemic.

  • The two-year termination rate for IVAs registered in 2021 was 14.4%, which was higher than for IVAs registered in the two preceding years. However, the three-year IVA termination rate for IVAs registered in 2020 was 15.8%, which was the lowest since 2013.

  • Termination rates over the lifetime of an IVA increased from approximately one in four (25%) for IVAs registered between 2013 and 2014 to one in three (33%) for IVAs registered between 2016 and 2018. Many IVAs registered in 2019 or later remained ongoing as at 31 December 2023, so a definitive trend cannot yet be established, but there are preliminary indications of a decline in lifetime termination rates.

Updates to this page

Published 1 March 2024

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