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What is an Insolvency Practitioner?

Last updated: January 13, 2023

The Quick Answer

A Licensed Insolvency Practitioner is a qualified professional who has an insolvency licence.

Insolvency and dealing with businesses and individuals with debt is a regulated profession. You can not do this work without having passed an exam, being the member of a professional body and having an insolvency licence.

The answer in more detail

The Insolvency Practitioner (“IP”) will have qualified as a Licenced Insolvency Practitioner by working in the profession for several years and passing an exam. They will be a member of a professional body and regulator such as the Institute of Chartered Accountants in England and Wales. The professional body issue the licence annually if the Licenced Insolvency Practitioner remains a fit and proper person to hold a licence.

As the Licenced Insolvency Practitioner will handle client funds they are carefully monitored and periodically visited by this professional body. All formal insolvency appointments, such as the Licensed Insolvency Practitioner acting as an Administrator, Liquidator or Supervisor must be reported each month to their regulatory body.

All Licenced Insolvency Practitioners must have professional indemnity insurance, an enabling bond and they will also be registered and have an IP number with the Insolvency Service.

We have three Licensed Insolvency Practitioners at our firm taking formal insolvency appointments as well as several qualified support staff. The Licenced Insolvency Practitioners are:

David Kirk   
Wendy George 
Daniel Jeeves       

IP number 8830
IP number 24174
IP number 26032

tip

If you need insolvency advice the earlier you talk to someone like us the better as you will have more options. We can help, contact us today.

More questions in this section

What Happens When a Charity is Insolvent?

Are Insolvency Practitioners Regulated?

Are Insolvency Payments Taxable?

How Long Does Insolvency Last?

How To Know If Your Business Is Insolvent?

Insolvent Trading – What can happen to my Business?

Is Insolvency A Breach Of Contract?

How Can I Stop My Business From Becoming Insolvent?

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Author: David Kirk - ACA FABRP
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Just a quick email to say a heartfelt thank you for your very calm, considered, expert advice regarding my circumstances on Tuesday. Things looked bleak before you explained my options much more clearly, in simple layman’s terms.
Rob Elliott (December 2021)
Kirks and their team recently advised me on the Members Voluntary Liquidation (‘MVL’) process. They made it very simple for me to understand the process, they kept me up to date with progress throughout the liquidation and expertly answered any queries I had. All interactions with Kirks were highly professional and it gave me confidence that my liquidation was safe in their hands. They promised a straightforward process and certainly delivered – I highly recommend the team at Kirks to assist with your MVL.
Daniel (October 2020)
Kirks provided a very efficient and cost effective service. They offered support and advice throughout the process and made prompt payments. It was a very professional and helpful service.
Richard (September 2020)
We have just had the pleasure of working with Kirks, to complete the closure of my company, everything went smoothly and professionally. I would recommend this company and the staff very very helpful and quickly finalised everything. Thank you Kirks.
Carol Hill (November 2019)
I found you very professional in all my dealings with you. You were knowledgeable and dealt with my case expediently. You answered all my queries on the way in full and everything happened as you said it would in he time frames you outlined in the very beginning. I would have no hesitation in commending you and your company to others
Allan M (May 2019)
We appointed Kirks to manage the process of an MVL when we had ceased trading and found their service to be very straightforward and thorough. A fixed fee arrangement provided us with reassurance and David explained the process clearly to us at the outset. A very professional service all round
David Mills (April 2019)DM digital Solutions
Thanks for all your help guys and for being quick in replying to phone calls and emails
Anon (April 2019)
I have found Kirks Insolvency to be very reliable in terms of their dealings with us as their customers. They are clear in terms of the process and what it entails and are very prompt when it comes to communications. I would recommend their services.
Michale P (March 2019)
I was very impressed with the speed and efficiency with which Kirks undertook the MVL and their help and assistance in explaining the process and resolving any queries.
Anon (March 2019)
Before meeting with Kirks, I had already met with a number of other insolvency practitioners none of whom I considered to be as clear cut and up front as David. The liquidation was executed quickly and professionally and I really am happy that I have done it.
Anon (February 2019)
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Just a quick email to say a heartfelt thank you for your very calm, considered, expert advice regarding my circumstances on Tuesday. Things looked bleak before you explained my options much more clearly, in simple layman’s terms.
Rob Elliott (14th December 2021)

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