Yes - and IVA is an ideal solution for someone who is self-employed, indeed the legislation originally relating to IVAs was brought in specifially with the self-employed in mind.
You will of course, need to discuss your circumstances with an insolvency practitioner, who can advise you about IVAs and all other debt solutions - and if you decide to plump for an IVA, you will need to meet your IP or a member of their senior staff on a face to face basis, so that your business can be discussed more fully.
In addition to what Melanie says you will need to be careful about what you propose given the current economic climate. Those on PAYE can be reasonably sure about their earnings whereas a self employed person can only project. Be realistic about what is affordable and if you do better this can be adjusted at the annual review. Creditors are loathe to accept variations to reduce payments based on a downturn in business foreseeable at the outset.
Any debts outstanding to HMRC are included in an IVA the same as loans and credit cards and it allows people a chance to start again. As Melanie says IVAs were originally aimed at the self employed and the number of trading IVAs has not increased anyway near the explosion in consumer debt IVAs.
