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Become an ICAEW insolvency licence holder

This section provides information about applying for an ICAEW insolvency licence.

Applications for 1 January 2023

Please note that the average application takes approximately 6 weeks to process, and we therefore can’t guarantee approval of applications for 1 January 2023 received after 18 November 2022.

As a recognised professional body (RPB) we are able to offer the following types of insolvency licence:

  • Full licence – for insolvency appointments in relation to companies, individuals and partnerships.
  • Partial licence – for insolvency appointments in relation to companies or individuals only.

To become an ICAEW licensed insolvency practitioner and carry out insolvency work under the Insolvency Act 1986, you must:

  • pass the Joint Insolvency Examination Board's (JIEB) exams; For a full licence you need to pass both JIEB papers, For a partial licence (for insolvency appointments in relation to companies), you need to pass the JIEB liquidations paper and the administrations, company voluntary arrangements and receiverships paper. For a partial licence (for insolvency appointments in relation to individuals), you need to pass the JIEB personal paper. You can also apply for a partial licence if you have passed both JIEB papers.
  • meet the minimum experience requirements (600 hours of experience over three years);
  • apply to ICAEW for a licence;
  • be approved as a fit and proper person by the Insolvency Licensing Committee;
  • be granted an insolvency licence;
  • have professional indemnity insurance (PII);
  • comply with the Insolvency Licensing Regulations and Guidance Notes;
  • be monitored by us in accordance with minimum standards agreed with the Insolvency Service; and
  • pay the appropriate fee.

If you're an overseas person or not an ICAEW member, you can be licensed by ICAEW if you also become an affiliate of ICAEW. The application form below combines the licence application and the application for affiliate status and can be used by non-members.

 

Regulatory applications and fees

Access more information about the application process, including the 8-12 week’s lead time, the assessment process and fees.

Changes in firm structure – please tell us within 10 business days

It’s important to maintain your firm record accurately. An inaccurate or out of date firm record may constitute a misdescription of your firm. It could also lead to regulatory or disciplinary action.

Did you know? 

You don’t have to be an ICAEW Chartered Accountant to qualify and be licensed as an insolvency practitioner (IP) with ICAEW. By choosing ICAEW as your single regulator, we can reduce the administrative burden and offer current and future IPs a wealth of benefits and support.

Further resources

Members setting up in practice for the first time or firms moving into new areas of regulated work need to comply with a range of requirements, rules and regulations.

Insolvency licensed practitioner applications 2021

   UK individuals Overseas individuals  Total 
 Number of applications for licensed insolvency practitioner (1)  38  1 39 
 Number of individuals who have been approved (2)  37 38 
 Approved applicants who have passed the JIEB examinations  35 36 
 Approved applicants who transferred their licence to ICAEW from another RPB  2
 Approved applicants with an overseas qualification (3)  0
 Approved applicants with a partial licence for personal appointments  2
 Approved applicants with a partial licence for company appointments  1

(1) these are applications received in the calendar year

(2) these are applications approved in the calendar year, regardless of whether the application was received in the same year.

(3) these are individuals who have satisfied the Insolvency Licensing Committee that their education, qualifications, professional status and insolvency experience are sufficient to meet the criteria in Insolvency Regulation 2.1.

What are my Continuing Professional Development requirements as a licensed insolvency practitioner?


As an ICAEW member, or individual licensed by ICAEW for insolvency services, you must comply with the Continuing Professional Development requirements to ensure you remain up to date.


ICAEW’ Continuing Professional Development requirements can be found at

Continuing Professional Development (CPD) | Membership | ICAEW