AiB freeze most fees and make online ROI searches free
22/03/2010
This year Accountant in Bankruptcy has been able to freeze the vast majority of our fees and make online searches of the Register of Insolvencies free. Only the Protected Trust Deed (PTD) Supervision fee and the Creditor Petition fee will increase from 1 April 2010.
Details of the changes to be introduced are:
Online RoI searches
Charges for online searching of Register of Insolvencies (ROI) to be removed, making public online seaches now free of charge.
- Previously the fee for an annual subscription to search the ROI was £4200 whilst daily access was £17.
- RoI online search customers will still be required to complete a registration form (login) to access information but the mandatory payment provision from the account creation process has been removed.
- Customer information collected from the registration process will be subject to data protection regulations.
Creditor Petition fee
The administration fee for a creditor's bankruptcy petition fee will increase to £200 (previously £100).
- The fee is treated as a petitioning creditor's expense and will be refunded to the petitioning creditor should sufficient monies be recovered from the sequestrated estate.
- The new fee amount will apply to all creditor petitions lodged on or after 1 April 2010.
PTD Supervision Fee
The fee for supervision of the trustee of a protected trust deed rises to £250 (previously £200).
- Full fee becomes payable to the AiB as soon as the trust deed is protected.
- AiB will continue to allow this fee to be paid in two installments and will issue an invoice for each of the £125 payments due on the first and second anniversaries of the date the protected trust deed was granted.
- This increase will apply to all trust deeds granted on or after 1 April 2010 - protected trust deeds granted prior to 1 April 2010 are not affected by this increase.
The Bankruptcy Fees (Scotland) Regulations 1993 set out the fees payable to the Accountant in Bankruptcy (AiB) in bankruptcies and protected trust deeds. The regulations are amended with effect from 1 April 2010 by the Bankruptcy Fees (Scotland) Amendment Regulations 2010 - ( SSI 2010/76).
Notes to editors:
- Accountant in Bankruptcy (AiB) is an Agency of the Scottish Government. The Agency operates independently and impartially whilst remaining directly accountable to Scottish Ministers.
- AiB is responsible for administering the process of Personal Bankruptcy and recording Corporate Insolvencies in Scotland.
- Fees are charged for AiB services where reasonable and in accordance with the Scottish Government's drive for sustainable public services. Service fees contribute to reducing the Agency's reliance on core Scottish Government funding and the public purse.
- The Register of Insolvencies (ROI) is a statutory register about the insolvency of individuals and businesses in Scotland.
Contact:
AiB Communications - AiB@aib.gsi.gov.uk