The Insolvency Service is the Government agency that delivers public services to those affected by financial distress or failure by providing frameworks to deal with insolvency and the financial misconduct that sometimes accompanies or leads to it.
The Insolvency Service aims to deliver economic confidence through a fair corporate and personal insolvency regime that gives investors and lenders confidence to take the commercial risks necessary to support economic growth. It has a crucial role to play in supporting businesses and individuals in financial difficulty or facing redundancy owing to their employer’s insolvency.
This year, the Insolvency Service has reinforced its commitment to supporting businesses and citizens. It is delivering the Government’s plan for change with investment and reform to deliver growth; putting more money in people’s pockets and helping to rebuild Britain; and giving business and investors the certainty, simplicity and stability they need. This will ensure that the UK is a key destination for investment, with a regulatory regime that is fit for purpose and achieves value for money for the taxpayer. In particular, I have asked it to focus on:
Extending its commitment to tackling money laundering, working closely with partners to increase our ability to identify and disrupt illegal activity.
Working towards implementing the insolvency regulatory reforms outlined in the response to the “Future of Insolvency Regulation” consultation.
Launching the new case management system INSSight, enabling it to deliver better services more effectively and efficiently.
Delivering cost reductions to improve the organisation’s efficiency and help deliver value for money.
The Insolvency Service’s annual plan for 2025-26 is published in full on
www.gov.uk.[HCWS862]