The SRA Handbook is no longer in effect. It was replaced by the SRA Standards and Regulations on 25 November 2019.
Financial evidenceBack to version 21
Version 18 of the Handbook was published on 01/11/2016. For more information, please click 'History' Above
5: Financial evidence
If you have been declared bankrupt, entered into any individual voluntary arrangements (IVA) or have had a County Court Judgment issued against you it will raise a presumption that there has been evidence that you cannot manage your finances properly and carefully.
The following might help to establish confidence in your ability to run your business/carry out your role in the business effectively and in accordance with proper governance and sound financial and risk management principles:
the bankruptcy/IVA/County Court Judgment occurred many years ago and there is evidence of subsequent sound financial management and conduct to show that creditors have been repaid;