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Accountant in Bankruptcy
Publication - Notes for Guidance

Notes for Guidance - Bankruptcy (Scotland) Act 2016 (as amended)

First published
1 November 2021
Last updated
10 February 2026 - see all updates
Topic
Bankruptcy

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.

Downloadable version

13.1 Accounting periods

The trustee is required to make up accounts in respect of each accounting period with the first period in every case being for 12 months commencing with the date of award of bankruptcy.

When the trustee was initially appointed as interim trustee and appointed trustee on award of bankruptcy, the first accounting period will commence from the date of their appointment as interim trustee and end one year after the date of award of bankruptcy.

Subsequent accounting periods must also be for periods of 12 months, beginning with the day after the end date of the previous accounting period.

First published
Monday, 1 November 2021
Last updated
Tuesday, 10 February 2026 -
All updates

  1. Update to section 7.3 - amendment of act

  2. update to team contact details following delivery branch restructure.

  3. update to section 12.4.1 in relation to council tax.

  4. update to the discharge of debtor - actions of the trustee section.

  5. Update to section 14.3 including the addition of the S147A proforma

  6. Amendment to 8.7.2 Quashing a DCO – review and appeal section

  7. Update to section 14.3 and 14.4

  8. Downloadable word version of the Notes for Guidance to cover the June amendments have been added.

  9. update to section 14.3.

  10. Changes to the following sections: 1.4 1.6 2.5 2.6 5.2 5.6 8.3 8.4 8.6 8.7 8.8 10.3 12.7 12.8 13 13.2 13.6 – 13.17 14 -14.8 16 16.5 18.3

  11. Changes to AiB team names. Sections 12.2.1, 12.3, 12.5, 13.10, 13.13.1, 13.14 amended. Section 13.12.10 added

  12. Supporting document added to website

  13. Published on website

  14. Amended sections 2.2, 12.7.2, 12.8.2, 13.6, 13.9, 13.12, 13.13, 13.14, 16.5, 18.5.1

  15. Published

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