beta This is a new service. Your feedback will help us to improve it.

Notes for Guidance - Bankruptcy (Scotland) Act 2016 (as amended)

This guidance describes the general functions of Accountant in Bankruptcy, interim trustees, trustees and commissioners in relation to their responsibilities regarding bankruptcies which started on or after 30 November 2016.

13.1 Accounting periods

The trustee is required to make up accounts in respect of each accounting period with the first period in every case being for 12 months commencing with the date of award of bankruptcy.

When the trustee was initially appointed as interim trustee and appointed trustee on award of bankruptcy, the first accounting period will commence from the date of their appointment as interim trustee and end one year after the date of award of bankruptcy.

Subsequent accounting periods must also be for periods of 12 months, beginning with the day after the end date of the previous accounting period.

Back to top