Individual Voluntary Arrangements Outcomes and Providers 2022
Statistics on the outcome status and providers of individual voluntary arrangements registered in England and Wales.
Applies to England and Wales
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In 2022, 87,967 IVAs were registered in England and Wales. This was the highest annual number in the time series going back to 1990, continuing an increasing trend in IVA numbers, as shown in Figure 1. Four firms accounted for more than half of new IVAs registered in 2022.
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In England and Wales, one in 18 Individual Voluntary Arrangements (IVAs) (5.5%) registered with the Insolvency Service in 2021 terminated within one year of being approved. This was lower than the one-year termination rates in 2015-2019, but higher than the record low one-year termination rate in 2020, which coincided with the revised IVA protocol in response to the COVID-19 pandemic. Two- and three-year IVA termination rates of 10.3% and 17.5% (for IVAs registered in 2020 and 2019 respectively) were lower compared to IVAs registered in the preceding years.
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Termination rates over the lifetime of an IVA increased from approximately one in four (25%) for IVAs registered between 2012 and 2014 to one in three (33%) for IVAs registered in 2016 and 2017. Many IVAs registered in 2018 or later remained ongoing as at 31 December 2022, so a definitive trend cannot yet be established, but there are preliminary indications of a decline in lifetime termination rates.