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.

• From: The Insolvency Service
• Published: 1 March 2024

Applies to England and Wales

Documents

Commentary - Individual Voluntary Arrangements Outcomes and Providers 2023

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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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Methodology and Quality Document - Individual Voluntary Arrangements Outcomes and Providers 2023

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Pre-Release Access List - Individual Voluntary Arrangements Outcomes and Providers

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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.

Published 1 March 2024