Insolvency Service

The Insolvency Service has warned that its new taskforce targeting so-called "abusive phoenixism" will not be enough on its own to tackle the estimated £800 million in tax lost through the practice each year.

The number of company insolvencies registered in Scotland fell by a quarter in May compared with the same month last year, according to the latest figures published by the Insolvency Service.

Company insolvencies in Scotland rose by 6% year-on-year in April 2026, with 107 cases registered compared with the same month in 2025. The figure was made up of 53 creditors' voluntary liquidations (CVLs), 49 compulsory liquidations and five administrations. There were no company voluntary arrangem

Company insolvencies in Scotland climbed 11% year-on-year in March 2026, with 131 cases registered compared to the same month in 2025. The total comprised 57 compulsory liquidations, 53 creditors' voluntary liquidations (CVLs), 18 administrations and three receivership appointments. No company volun

Scottish company insolvencies fell by 5% year-on-year in February 2026 compared with the same month the previous year, with 98 insolvencies registered in total. The figure comprised 50 creditors' voluntary liquidations (CVLs), 39 compulsory liquidations, six administrations, two receivership appoint

The civic head of Shetland Islands Council has been banned as a director after her company went into liquidation owing more than £170,000 in tax. Council convener Andrea Manson was one of two directors of the Mid Brae Inn Limited, which traded as a pub of the same name.

The Scottish business landscape showed signs of marginal stabilisation in January 2026, with registered company insolvencies falling by 1% compared to the previous year. A total of 74 insolvencies were recorded during the month, consisting of 42 creditors’ voluntary liquidations and 32 compuls

The Insolvency Service has appointed Duncan Beach as its new chief executive, a move designed to strengthen the agency's capabilities in tackling financial crime and fostering economic confidence. Mr Beach, formerly the managing director and global head of risk & compliance transformation at HSB

The Insolvency Service has welcomed a £25 million investment announced by Chancellor Rachel Reeves in the Budget, aimed at cracking down on rogue company directors. Spread over the next five years, the funding will establish a new Abusive Phoenixism Taskforce. This specialised unit will be sta

A woman from Dumfries and her sister have been banned as company directors for seven years for their role in a scheme that put creditors at risk of losing over £67 million. Joanna Seawright, 54, of Mavis Grove, Dumfries, and her sister Karen Mortimer, 67, of San Miguel de Abona, Tenerife, 

A former interim head of the Institute of Directors (IoD) has been disqualified from acting as a company director for 11 years over the abuse of the Covid Bounce Back Loan Scheme.

The Insolvency Service has launched a new animated video to help people in debt make informed decisions before entering an Individual Voluntary Arrangement (IVA). An IVA is a legally binding agreement between an individual and their creditors to pay back debts over a period of time.

The number of company insolvencies in Scotland saw a slight decrease in July 2025, with 116 firms failing compared to the same month in the previous year. The total was comprised of 68 creditors’ voluntary liquidations (CVLs), 43 compulsory liquidations, four administrations, and one company v

The director of a century-old Scottish machinery firm which went into administration last year has been banned after failing to declare more than £1.5 million in VAT.

Scottish company insolvencies fell by 4% in June 2025 compared to the previous year, with 105 firms collapsing. Experts have warned this may only be a temporary reprieve and a challenging economic climate.