How to choose a Licensed Insolvency Practitioner
Choosing the right Licensed Insolvency Practitioner matters, because they will guide you through one of the most stressful decisions of your business life, and only a licensed practitioner can legally act as a liquidator or administrator. The first thing to do is confirm the person is genuinely licensed, which you can do free on the Insolvency Service register. This guide gives you the questions to ask so you can choose with confidence. Insolvency Service register
- First check
- Confirm they are licensed (Insolvency Service register)
- Look for
- Fixed written quotes, honest options, relevant experience
- Be wary of
- Unregulated advisers, pressure, vague pricing
- A good sign
- They tell you when you do not need a formal procedure
Talk it through, free and confidential No obligation. We review your situation and point you to the right next step.
What is an insolvency practitioner?
An insolvency practitioner is a licensed person who can act for a company in a formal insolvency process: as its liquidator, provisional liquidator, administrator, administrative receiver or monitor, or as nominee or supervisor of a company voluntary arrangement (Insolvency Act 1986, section 388). Acting as one without being qualified is an offence (section 389).
What to look for
Anyone advising on insolvency who is not licensed should be treated with caution. Beyond that, look for clear, fixed, written quotes with the scope spelled out, a straight assessment of all your options including the ones that earn them no fee, experience in your situation or sector, and someone who explains things plainly and does not pressure you. A good practitioner will tell you when you do not need a formal procedure at all. Be wary of unregulated advisers, upfront pressure, and vague pricing.
Questions to ask
- Are you a Licensed Insolvency Practitioner, and what is your IP number?
- What are all my options, including doing nothing formal?
- What is the fixed cost and scope, in writing?
- Have you handled cases like mine?
A practitioner who answers these openly is one to trust.
Check the register
Confirm any practitioner on the Insolvency Service register, or browse every listed practitioner by town and firm in our insolvency practitioner directory. Where we point you to a practitioner, it will only ever be a licensed one, never an unregulated adviser. See our accreditations.
Common questions
What does an insolvency practitioner do?
It depends on the role. In a liquidation, gov.uk says the liquidator takes control of the company, will "sell off the company's assets and use any money to pay creditors", "pay liquidation costs and the final VAT bill", and "interview the directors and report on what went wrong in the business". In a creditors' voluntary liquidation, "the liquidator acts in the interest of the creditors not the directors". Source: gov.uk, Liquidate your limited company (checked 1 November 2026).
Who pays the insolvency practitioner?
Usually the company, out of its assets: gov.uk lists paying "liquidation costs" among the liquidator's jobs. Where the company has little or nothing left, ask before you agree anything who will pay the fee, how much it is and when it is due, and get the answer in writing.
How do I check an insolvency practitioner is licensed?
Search the Insolvency Service register of Insolvency Practitioners, which is free and public. Only a Licensed Insolvency Practitioner can act as a liquidator or administrator, so always confirm before instructing anyone.