Insolvency Service Annual Report and Accounts 2025 to 2026
Insolvency Service Annual Report and Accounts 2025-2026
Applies to England, Scotland and Wales
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Delivering progress that matters to our customers
As the Chief Executive of the Insolvency Service, I am pleased to present our Annual Report and Accounts for 2025 to 2026. Since joining the agency in January 2026, I have seen firsthand the professionalism and dedication of colleagues across our agency.
Our purpose is clear: to support people and businesses in financial difficulty, protect creditors and taxpayers, and uphold confidence in the UK’s insolvency and corporate systems. By doing so, we support the government’s number one mission to kickstart economic growth by safeguarding the foundations a stable economy needs. This reporting period marks the conclusion of our five-year agency strategy, during which we focused on improving the experience of those who rely on our services, simplifying processes and making it easier for customers to access our services.
We have continued to advance our digital-first strategy, improving user experience and establishing more consistent, intuitive customer journeys while building foundations for future transformation. Progress on the modernised Debt Relief Order service will enable integration with advice-sector partners, reducing administrative burden and supporting quicker, more effective outcomes for vulnerable users. The rollout of INSSight, our new case management system, proved more complex than expected resulting in delays to its launch and additional cost. However, the system is expected to be fully operational from June 2026 when we expect to see the benefits of stronger analytics and reduced manual processing.
Operationally, strong performance has been maintained across core services, underpinned by continued Customer Service Excellence accreditation. Official Receivers managed a high volume of insolvency cases, including complex national interest matters, safeguarding critical operations and returning significant value to the economy. The role of our Official Receivers remains vital. While overall case volumes have increased, reduced asset values, which are key drivers of funding, have resulted in a shortfall. We are addressing this through internal measures alongside work with our sponsor department, the Department for Business and Trade. The Redundancy Payments Service also demonstrated resilience, delivering timely financial support during challenging circumstances. The removal of the £90 applications fee for a Debt Relief Order has also removed a barrier for the most financially vulnerable people and led to an increase in those using it as a debt relief option.
We have strengthened our approach to tackling financial misconduct, supported by our 2025 Investigation and Enforcement Strategy and enhanced powers under Economic Crime and Corporate Transparency Act 2023 (ECCTA). Closer collaboration with Companies House has improved intelligence and early intervention, contributing to robust enforcement outcomes and reinforcing confidence in the UK’s financial system. Our growing success in enforcement activity was recognised by a commitment of £25 million in the 2025 Autumn Budget to fund an additional 50 posts to form a new Abusive Phoenixism Taskforce.
We implemented three annual pay awards (2023, 2024 and 2025) within a 12-month period, following a successful pay flexibility case submitted to HM Treasury. This enabled us to address long-standing pay competitiveness issues and reform of our pay structure. We also completed our Transforming Workplaces project in November 2025, consolidating our office network from 22 locations to 11 regional centres, saving £1.42 million per year.
As we look ahead to our new strategy launching in 2026, we will build on our progress, improving services to reinforce confidence, support economic stability and growth, and deliver real value for the public. Central to this is building a high performing organisation that consistently puts our customers first, ensuring their needs, and those of our stakeholders and colleagues, sit at the heart of how we work.
Duncan Beach, Chief Executive