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The Latest Breaking News from The Insolvency Service

London fraudster invented business for bogus £50,000 Covid Bounce Back loan claim

The £50,000 Bounce Back loan for the fictional company was approved within two days

Evening Standard

Personal insolvencies jumped by 8% month on month in April in England and Wales

Among businesses, compulsory liquidations reached the highest levels since September 2014, the Insolvency Service said.

Evening Standard

Number of people needing ‘breathing space’ from debts jumped annually in March

Some 8,033 breathing space registrations were recorded by the Insolvency Service in March 2025, which is 4% higher than in March 2024.

Evening Standard

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Number of people struggling with debts rising as ‘breathing space’ requests up

Around 8,033 breathing space registrations were recorded in March 2025, up is 4 per cent from the same time last year

The Independent UK

Scottish sawmill heading for liquidation

It's the fourth company to go to the wall since January that has had the same registered address in Dunfermline and Taylor as sole director.

The National (Scotland)

Rogue trader left ‘gaping hole’ in woman’s house after taking £10k deposit

Builder Gary Roberts was banned as a company director for 10 years for his misconduct

The Independent UK

Women more likely to become financially insolvent than men

Female insolvency rates have been higher than those for men every year since 2014 in England and Wales.

Evening Standard

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4% monthly rise in personal insolvencies in February in England and Wales

Debt relief orders have been taken out at record-high monthly levels since a £90 fee was scrapped in April 2024, the Insolvency Service said.

Evening Standard

12% annual jump in personal insolvencies across England and Wales in January

A rise in debt relief orders numbers since last year has coincided with the abolition of an admin fee and the expansion of eligibility criteria.

Evening Standard

£5.5bn lost to tax evasion could be ‘vast underestimate’ by HMRC, MPs warn

The UK’s tax authority has processes which are ‘far too open to abuse’, the Public Accounts Committee warned.

The Independent UK

Fall in company collapses last year but experts warn of ongoing ‘headwinds’

Despite the drop year-on-year, the number of insolvencies remains at levels last seen during the 2008 financial crisis.

Evening Standard

Personal insolvencies jumped by 14% annually in 2024 across England and Wales

The number of people taking out debt relief orders increased to reach a record high last year, the Insolvency Service said.

Evening Standard

Annual jump of 25% in personal insolvencies in England and Wales in November

Debt relief order numbers have been at record levels in recent months after the removal of a £90 admin fee.

Evening Standard

‘Concerning’ level of poor practice found in IVA market – Insolvency Service

Of the 310 terminated IVAs that were examined, 60% showed evidence of poor practice by providers, the agency said.

The Independent UK

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The Independent UK

Company failures soar by nearly a fifth amid construction and hospitality woes

The Insolvency Service said company insolvencies in England and Wales jumped 18% to 2,177 last month.

The Guardian - UK

UK Insolvency Service seeks up to 15-year director ban for Lex Greensill

Government agency issues disqualification proceedings after inquiry into failed finance firm Greensill Capital

International Business Times UK

Unemployment Rate in the UK: Official Figures Show Potential Discrepancy

The new data, derived from experimental results within the Labour Force Survey, could potentially exert pressure on the Bank of England to reconsider any immediate plans for interest rate cuts.

The Guardian - UK

Debt ‘breathing space’ requests rose 25% last year in England and Wales

Number increased to 88,390 under scheme brought in during pandemic to help people struggling with bills

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The Guardian - UK

Disgraced ex-Carillion boss lands senior US role months after UK boardroom ban

Richard Howson’s job with Florida-based tech firm sparks anger among unions and industry experts

inkl

How Bankruptcies and CCJs Affect Your Credit Score

There’s no easy way to say this, but bankruptcies and County Court Judgements (CCJs) can devastate your credit score - they stay there for 6 years and are a massive red flag to lenders.

The Independent UK

Number of people taking out debt relief orders reaches highest level since 2009

The number of people needing ‘breathing space’ from their debts also jumped, according to Insolvency Service figures for England and Wales.

The Guardian - UK

Number of firms in England and Wales going bust in August rises by a fifth

Insolvency Service reports 19% rise from August 2022’s figures as firms fight high interest rates and falling sales

The Independent UK

26% annual jump in people registering for ‘breathing space’ from debts

Breathing space schemes give people with problem debt legal protections from creditor action for certain periods.

The Independent UK

Company insolvencies rise 27% in June as interest rate hikes hit firms

Official figures from the Insolvency Service revealed that 2,163 insolvencies took place in June.

The Guardian - UK

Half of UK company directors struck off linked to alleged Covid loan fraud

Official figures show in a 15-month period at least 50% of disqualified bosses are accused of fraud or abuse of coronavirus support schemes

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