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Hi Mark,

Thanks for your question, I have passed it onto the IVA team here and they should have a detailed answer for you soon. In the meantime, from my experience, celebrity IVAs are much less publicised than celebrity bankruptcies, however if you enter into an IVA your name and address will appear on the insolvency register for Northern Ireland - http://www.business.detini.gov.uk/iva... , meaning your details can be found if someone was searching for you on the insolvency register website. This means there is a chance that your IVA could become public knowledge.

The only example that comes to mind of a celebrity who has an IVA is actor Neil Morrissey, and according to this article (http://www.telegraph.co.uk/finance/pe...) he chose to talk to the media about his reasons for entering into the arrangement.

Hello Mark,
There is very little practical difference between an IVA in Northern Ireland and an IVA in England or Wales. Details of IVAs are not published in any newspapers, although you must bear in mind that your name will appear on a publicly available online register- the Insolvency Register on the mainland and the DETI IVA register in Northern Ireland. In certain circumstances, it is possible to have no personal details at all appear on the register, but there would need to be good reason for that to happen.

As a rule of thumb, HMRC are very supportive of IVAs but they will generally not accept any proposal where there are outstanding tax returns from previous years, so even if you owe them money the key is to be up to date with the returns themselves.

Regards.

Does it appear in stubbs gazette for example or is this online register the only one? also what are the criteria for name not to appear at all?
just to clarify all returns are up to date , they just found some errors in them and now there is a total liability of about £14000, so would these be allowed? i assume any penalities incurred from the HRMc wouldnt be allowed in IVA??

As far as I am aware, Stubbs Gazette is for the Republic and is a subscription publication, therefore not available to general members of the public.

There are no set criteria for non appearance on the register, but an example may be someone who works in a sensitive area (a member of the security services perhaps) and it is in no ones interests for their personal details to be made available.

Your HMRC debt in an IVA would be the total you owe, including any fines.

i am also a director of a couple of non profit making organisations and my details are listed there on companies house,(ive just checked) can i remain on these boards with IVA and will any other board members find out about this

There is nothing to stop you being a director of a Limited Company in an IVA, but you would need to review the Articles of Association and any fellow directors should really be informed, if only to be transparent with them.