Skip to main content

Who Can Be An Insolvency Practitioner?

What Is An Insolvency Practitioner? This is anyone who is Licensed by a recognised professional body to take the appointment of insolvent estates.

The recognised professional bodies are:

In order to become an Insolvency Practitioner, you need to have passed the stringent test of the examination set by the Joint Insolvency Examination Board.

What Is An Insolvency Practitioner?

How Many Insolvency Practitioners Are There?

As of 2022, there are currently 1,254 Insolvency Practitioners authorised to undertake insolvency appointments.

Why Would Someone Appoint An Insolvency Practitioner?

Insolvency Practitioners can assist those in financial difficulty both in a formal and informal way.

Informally an Insolvency Practitioner can provide advice to people suffering from debt problems both personally as individuals or in respect of their companies.

Formally however an Insolvency Practitioner can be appointed to accept the role of what is known as the office-holder i.e. the person who will in effect take control of the financial affairs of a company or an individual.

What is an Insolvency Practitioner Formal Appointment?

An Insolvency Practitioner can take formal appointments and control in the following types of typical insolvency:

There are other appointments such as Administrative Receivership and Law of Property Act Receiver.

How Can I Find An Insolvency Practitioner?

You can find an Insolvency Practitioner by going to a UK government website called Find An Insolvency Practitioner where you can search for one by name, town or county.

What Can I Expect From Working With An Insolvency Practitioner?

From engaging with an Insolvency Practitioner you can expect to work with someone that is highly skilled and qualified in closing companies, rescuing people from debt and knowledgeable about company and insolvency law.

An Insolvency Practitioner will have detailed knowledge of the Insolvency Act 1986 which is necessary to comply with the formal legal procedures involved.

Ethical Duties

It is the duty of an Insolvency Practitioner to adhere to strict ethical duties. An Insolvency Practitioner must comply with the Statements of Insolvency Practice in the way that they work.

Free Initial Consultation

Many Insolvency Practitioners, including us here at Oliver Elliot, will offer you a free initial no-obligation consultation to discuss your case and seek to understand your concerns. If a formal insolvency procedure can be avoided then we will explain such options to you.

However, if a formal insolvency procedure, such as closing a company down via a Liquidation is required then we will discuss with you how you can provide information so that the reports and regulatory requirements can be met. An example can be seen on the page of how to start a liquidation. We will be transparent with you and we have a wealth of knowledge, including on this site that is freely available for you and which explains many of the key steps involved.

At each stage in the process, we will explain to you what is happening, we will answer your questions with care and consideration as quickly as practically possible. It is common that Directors of companies frequently have concerns that arise and we understand that they can be sometimes worrying. There are occasions when you want an answer quickly so that you understand the position. If we are able to put your mind at rest will do so with as much speed as we are capable.


For a free no obligation chat about any of the matters detailed above, please do get in touch for help. An expert will call you back or if you prefer exchange emails.

We can explore your situation and consider the best way to help you and your business needs. You can call us 020 3925 3613 or fill in the form below and will get back to you quickly. We Know Insolvency Inside Out.

Author: Elliot Green
Last Updated: May 20, 2024

Please enable JavaScript in your browser to complete this form.


100% Confidential Advice
We Know Insolvency Inside Out

Liquidation Help

Share This Page!

What Next?

Expert Advice Is Just A Click Away

If you have any questions in relation to What Is An Insolvency Practitioner? then contact us as soon as possible for advice. Oliver Elliot offers a fresh approach to insolvency and the liquidation of a company by offering specialist advice and services across a wide range of insolvency procedures.

Our expertise is at your fingertips.

Please enable JavaScript in your browser to complete this form.

By submitting this form you agree with the storage and handling of your data by Oliver Elliot. For more details, please read our Privacy Policy.

Opt in

Disclaimer: What Is An Insolvency Practitioner?

This page is not legal advice and is not to be relied upon as such. This article What Is An Insolvency Practitioner? is provided for information purposes only. You should take independent advice on the facts of your case. No liability is accepted for reliance upon this post.

Recent Posts / View All Posts

Companies House Fees Surge

Companies House Fees Surge

| Other | No Comments
With effect from 1 May 2024 Directors will face a Companies House fees surge following the effects of Section 93 of the Economic Crime and Corporate Transparency Act 2023 (“Section…
Economic Crime and Corporate Transparency Act 2023

Company Law Changes Which Started From 4 March 2024

| Other | No Comments
On 4 March 2023 company law changes landed due to the commencement of various provisions in the Economic Crime and Corporate Transparency Act 2023. With effect from 4 March 2024…
Can I Destroy Company Records Due To GDPR

Can I Destroy Company Records Due To GDPR?

| Other | No Comments
It is not unknown for Directors to destroy company records once a company has gone into liquidation and even beforehand but as a Director, do not destroy company records due…
Alan Bates And The Post Office Scandal Shows Keeping Records Is A Good Idea

Alan Bates And The Post Office Scandal Shows Keeping Records Is A Good Idea

| Other | No Comments
Overview Of Keeping Records Keeping records is a good idea for the company director. But not merely because for a company director it is a requirement under Section 386 of…