Contributions from bursary payments

Accountant in Bankruptcy has reviewed its guidance on how a bursary is to be treated with regards to income when using the Common Financial Tool.

AiB has determined there is no legislation, or other evidence, which supports our current guidance that a contribution cannot be taken from a debtor’s bursary.

Therefore, with immediate effect, AiB has revised its policy and guidance on this matter. It is now expected that, where a surplus income has been calculated, a contribution can be taken regardless if the payment is from all, or part of, a debtor’s bursary.

The Common Financial Tool guidance is now being amended to record this change and will be published shortly.