The Insolvency Service has published its annual plan for 2026–2027, setting out its strategic priorities, key initiatives and performance targets for the year ahead. The plan focuses on maximising returns to creditors, tackling financial wrongdoing, and supporting individuals and businesses experiencing financial distress. It commits to reviewing the standards framework for insolvency practitioners as the agency assumes full responsibility for setting professional standards, consulting on reforms to the insolvency rules and the personal insolvency regime, developing proposals to simplify insolvency processes for small and medium-sized enterprises, modernising civil enforcement, strengthening collaboration with Companies House, establishing a taskforce to tackle abusive phoenixism and enhancing digital systems and data capabilities. The plan also sets out organisation-wide improvements, including strengthening cyber security, expanding the use of artificial intelligence, improving customer services and workforce planning, reducing operational costs and establishing performance measures for 2026–2027, alongside financial forecasts.