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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.


13.6 Submission of accounts

A trustee must submit accounts to the commissioners, or the accounts team, within two weeks of the end of the accounting period under section 132(1) of the Act.

The information provided must include:

  • a copy of the receipts and payments
  • a claim for remuneration (if on a time and line basis this should be in a table format as set out in Appendix A of SIP 9 showing a breakdown of the categories of work carried out by grade of staff). This is still required when a request for deferral of remuneration is made (see section 8)
  • copy invoices/supporting evidence
  • bank statements or prints from electronic banking covering the accounting period (these will not be required if no income has yet been ingathered to the estate)
  • account card
  • the trustee must ensure any previously raised audit observations have been actioned and all changes have been incorporated into the current account

If the trustee is unable to provide a bank statement or other bank evidence verifying the closing balance this can be submitted with their next account, or if it is a final account, prior to discharge being granted.

Please note that although these are minimum requirements of the Accountant, trustees should take account of requirements placed on them by SIP 9.

If insufficient information is provided the account may be returned or it may delay the issue of the determination or result in outlays not being determined for that accounting period.

Accounts will be considered to be submitted late if they are not submitted within two weeks from the end of the accounting period with all the required information.

If the trustee does not submit their accounts before the end of the two week submission period, they will not be accepted until the trustee has an order from the Accountant under section 212 of the Act waiving their failure to submit the accounts within the prescribed time limit (see section 18.3).

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