The Government defines an FTVA as follows:

What is a fast-track voluntary arrangement?
An FTVA is a binding agreement with your creditors to pay all or part of the money you owe them. You can only enter into it after you have been made bankrupt. In an FTVA the official receiver acts as nominee; that is, he/she helps you prepare a proposal to put to your creditors and, if they accept the proposal, acts as supervisor, looking after the arrangement and making payments to your creditors in accordance with your proposal.

The official receiver's fee to act as nominee is £300, and as supervisor he/she also charges 15% of all sums realised. In addition, you will have to pay a registration fee of £35 for your FTVA to be recorded on the public register of all individual voluntary arrangements.

i don't get the difference betwen this and an iva? or a debt managment plan? this says you need to be bankrupt first, but then if you are, aren't all your debts gone then anyway? or is this just what happens to formalise that situation?

FTVAs are only for companies I think, rather than for individuals