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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

7.6 Audit fee

The Accountant’s statutory audit fee is 5% of the trustee’s remuneration (exc. VAT) and applicable outlays, including approved third party fees. AiB will raise a transaction from which an invoice is produced by the AiB Finance team and forwarded to the trustee responsible for paying the amount due, within 90 days of receipt. No charge can be levied on any other party for this cost.

When all actions have been completed and the trust deed account determined AiB will contact the trustee to arrange uplift of their files. The trustee is responsible for meeting this cost.

Trustees are encouraged to contact the Supervision team on 0300 200 2710, if any clarification is required prior to submitting accounts or case files.

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