Sie vs. Ihr in groups

the pronoun Ihr vs. Sie confuses me.

Ihr is informal plural - when would you use it? addressing kids, your guy friends, etc?

Ihr sprecht Deutsch. - you speak German, addressed to a casual group?

Sie means they, but also you (formal)? you use that talking to one person, but also a group?

If I were asking a group in a formal professional setting, would it be, Sprechen sie Englisch (oder Deutsch)?

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Hey, @luke_in_berlin.
Yes, we use “ihr” speaking to a group, but informally. Maybe you are speaking to your family or kids.
We use “Sie” when we speak to an unknown person, our boss, or in every other formal situation.
We also use “Sie” (now in plural) addressing a group in a formal situation, maybe your colleagues, a group of unknown people and so on.

In your example, “Sprechen Sie Englisch?” referring to a group, is absolutely correct.

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