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Notes for Guidance - Protected Trust Deeds - Bankruptcy (Scotland) Act 2016

This guidance describes the general functions of Accountant in Bankruptcy and trustees in relation to their responsibilities regarding protected trust deeds (PTDs) which were granted on or after 30 November 2016

2.3 Pre-trust deed work by third party agents

With the exception of a single valuation of any specified heritable estate, a debt due to a third party (agent) for work completed prior to the granting of a trust deed, may not be claimed by the trustee as an outlay of the PTD, Section 183(6) of the 2016 Act refers. This applies regardless of when the invoice for this work is raised and submitted to the trustee, even if this is not until a date after the granting of the trust deed.

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