The IVA annual review: what actually happens
Once a year your arrangement checks itself against reality. Here is what is looked at, and what can change.
What you provide
Recent payslips or accounts if self-employed, bank statements, and an honest updated budget. The review is administrative, not adversarial — its job is keeping the arrangement affordable enough to finish, because a completed IVA at a lower payment beats a failed one at a higher payment for everyone involved. Fluctuating trading income makes the review matter more — self-employed IVAs covers how it runs on accounts rather than payslips.
What can change
Contributions can move in either direction. Significant income increases are typically shared with creditors under your terms; documented cost increases reduce the surplus and the payment with it. Bigger life changes — job loss, illness, separation — go beyond the review into payment breaks or a formal variation of the arrangement.
Related: how the payment was set in the first place and what counts as a windfall.