What is an insolvency practitioner?
An insolvency practitioner (IP) is a person licensed to run formal insolvency procedures, including IVAs. Only a licensed IP can set up and supervise an IVA, and in 2026 they are licensed by one of three bodies: the IPA, the ICAEW or ICAS.
In an IVA, the insolvency practitioner is the person who puts your proposal to creditors and then runs the arrangement for its whole term. Acting as an IVA nominee or supervisor without a licence is a criminal offence, so the first thing to check about anyone offering you an IVA is who the licensed IP is.
What does an insolvency practitioner do in an IVA?
The same person usually plays two roles, one after the other.
As your nominee, before the IVA starts, the IP:
- looks at your income, spending, debts and assets, and runs a credit history search
- should explain all the options open to you, not just an IVA, and record why you chose an IVA
- gives you the key facts document before you sign
- helps prepare your proposal and statement of affairs
- reports to your creditors within 14 days of receiving your proposal, saying whether it has a reasonable prospect of being approved and carried out
- runs the creditors’ decision, usually by electronic vote or post
As your supervisor, once the IVA is approved, the IP:
- collects your monthly payments and pays dividends to creditors
- carries out annual reviews of your income and spending
- deals with changes, such as payment breaks, reductions, windfalls and redundancy
- issues a completion certificate when you finish, or a certificate of termination if the IVA fails
- tells you, your creditors and the Insolvency Service within 28 days when the IVA is completed or terminated
Who licenses insolvency practitioners?
In 2026, IPs are licensed by three recognised professional bodies:
- the Insolvency Practitioners Association (IPA)
- the Institute of Chartered Accountants in England and Wales (ICAEW)
- the Institute of Chartered Accountants of Scotland (ICAS)
The Insolvency Service oversees these bodies. By law, each body’s rules must make sure its IPs are fit and proper people and meet acceptable standards of education, practical training and experience. An IP must also have security in place, a kind of bond, for the proper performance of their work. An updated bonding framework took effect on 31 December 2025.
Only an individual can be an IP. A company cannot. Someone who is an undischarged bankrupt, subject to a debt relief order, or disqualified as a company director cannot act as one.
What has changed recently
- ACCA stopped licensing IPs on 1 March 2021.
- Chartered Accountants Ireland stopped licensing IPs in Great Britain on 1 June 2025.
- R3 is a trade association for the insolvency profession. It does not license anyone.
- The government has confirmed the Secretary of State will take over setting ethical and professional standards for IPs. The Insolvency Service says preparation for the legal changes continues during 2026. For now, the three bodies above still license IPs.
Are insolvency practitioners regulated by the FCA?
Not for their work as IPs. Activities carried out by a person acting as an insolvency practitioner are excluded from FCA regulation, including advice given in reasonable contemplation of being appointed. That is why an IP can talk to you about an IVA they expect to run without FCA authorisation.
Some IVA firms also hold FCA authorisation for debt advice. And the IVA Protocol requires the nominee to make sure anyone who referred you is FCA-authorised for debt counselling, or to point you to someone who is. So the right checks are: the IP on gov.uk, and any firm that advised or referred you on the FCA register.
How to check an insolvency practitioner
- Get the full name of the individual IP who would be your nominee and supervisor, not just the company name.
- Search for them on gov.uk’s find an insolvency practitioner service.
- Note which of the three bodies licenses them. You will need this if you ever have to complain.
- Check that the same name appears on your proposal. The proposal must identify the supervisor and confirm they are qualified to act.
IVA firms, IPs and introducers: who does what?
| Who | What they do | Who oversees them |
|---|---|---|
| Insolvency practitioner | Acts as nominee and supervisor of your IVA | The IPA, ICAEW or ICAS, overseen by the Insolvency Service |
| IVA firm | A company that employs IPs and support staff | Its IPs are licensed individually; the firm may also be FCA-authorised |
| Debt adviser | Compares all your options with you | The FCA |
| Introducer or lead generator | Passes your details to a firm, which may pay for them | FCA rules for lead generators, and advertising rules |
IVA Helpline is an introducer. We do not set up IVAs or give regulated advice. If you use our checker, we may pass your details to a licensed insolvency practitioner or debt adviser. The insolvency practitioner will then assess whether an IVA is suitable for you.
Want to know whether an IVA could work for you? Answer a few questions about your debts and income. It takes about 3 minutes, and it is free and confidential.
What should you expect from an insolvency practitioner?
Under the IVA Protocol 2025 and the professional rules, a good IP will:
- explain every debt option open to you, not just an IVA, and write down why you are choosing an IVA
- give you the key facts document and a copy of the Protocol before you sign
- set out their fees clearly, including how your payments will be split between fees and creditors year by year
- not sell you insurance, and disclose any products they introduced that appear in your budget
- follow the Insolvency Code of Ethics, which was revised from 1 October 2025
- point you to free, regulated debt advice if your IVA ends early
Walk away from anyone who pressures you to sign on the first call, says everyone qualifies, calls an IVA a “government scheme”, promises you a set percentage written off, will not tell you the name of the IP, asks for money upfront, or suggests leaving out a debt or an asset.
For more on comparing firms, see how to choose an IVA provider.
How do you complain about an insolvency practitioner?
Complain to the IP first, in writing. If you are not happy with their response, you can complain to their licensing body through the Insolvency Service’s online Complaints Gateway. Your complaint should normally be about something that happened in the last 3 years, or that you found out about in the last 3 years. Revised complaints guidance took effect on 1 October 2025. Start on gov.uk’s complain about an insolvency practitioner page.
What to do next
- Before speaking to any IP, get free, impartial advice from MoneyHelper, StepChange, Citizens Advice or National Debtline, so you know your options first. See where to get free debt advice.
- Compare an IVA with the alternatives, starting with IVA or bankruptcy? and IVA or debt management plan?.
- If you go ahead, check the IP by name, read how to apply for an IVA, and see our other guides on the IVAs explained page.
Common questions
Does an insolvency practitioner work for me or for my creditors?
Neither, strictly. As nominee they must give creditors an honest opinion on whether your proposal is likely to be approved and carried out, and as supervisor they run the IVA under its terms. They must follow the Insolvency Code of Ethics. For advice that is purely on your side, speak to an independent debt adviser.
Can a company be an insolvency practitioner?
No. Only an individual can be licensed as an insolvency practitioner. You may deal with an IVA firm, but your nominee and supervisor will be named individuals.
Is an insolvency practitioner the same as a debt adviser?
No. A debt adviser helps you compare all your options and works for an FCA-authorised firm or a debt advice charity. An IP can advise you about an IVA they expect to run, but their role is to set up and supervise formal insolvency procedures.
Do I pay the insolvency practitioner directly?
Not separately. In an IVA the IP's fees come out of the monthly payments you make, which is why your early payments go mostly on fees.
Related guides
- How to choose an IVA provider How to check an insolvency practitioner and any referrer, the red flags to watch for, and what to ask.
- How to apply for an IVA The application process from first advice to the creditor vote, and the questions to ask.
- How creditors vote on an IVA, and the rules they follow How the creditor vote works, the 75% rule, and what creditors must and must not do afterwards.
- How much does an IVA cost? The fees in an IVA, how they are taken from your payments, and how that compares with other options.