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I Have An Individual Voluntary Arrangement – Can I Be A Company Director?

Last updated: January 12, 2024

The quick answer

Yes you can still be a company director. 

In more detail

You can be a company director unless you are an undischarged bankrupt or you have been disqualified from being a director by the Insolvency Service. An Individual Voluntary Arrangement (“IVA”) is a confidential agreement between you and your creditors. It does not stop you being a director. 

The IVA will be registered with the Secretary of State and is available to credit reference agencies to search so it does have an effect on your personal credit rating for up to 6 years. The credit agencies do not know the terms of your IVA only that you have entered into one.

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

Will My IVA Bind The Spanish Bank Or Other Foreign Banks I Owe Money To?

When To Apply For A Company Voluntary Arrangement

What Is An Individual Voluntary Arrangement?

What Is A Company Voluntary Arrangement (CVA)?

The Differences Between A CVA And IVA

The CVA Process Guide

Company Voluntary Arrangements and How To Avoid a Pensions Regulator Claim

Company Voluntary Arrangements (CVA) – Advantages Vs Disadvantages

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Author: David Kirk - ACA FABRP
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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.
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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.
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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
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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.
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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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