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Accountant in Bankruptcy
Publication - Notes for Guidance

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

First published
30 November 2016
Last updated
11 November 2025 - see all updates
Topic
Protected Trust Deeds

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

Supporting documents

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.

Trustees are encouraged to contact the Supervision team on 0300 200 2916 or by email to Insolvency Supervision team if any clarification is required prior to submitting accounts or case files.

First published
Wednesday, 30 November 2016
Last updated
Tuesday, 11 November 2025 -
All updates

  1. e-mail addresses updated to reflect delivery branch restructure.

  2. Section 8.5 - typographical error updated

  3. changes made to section 2 to reflect the policy changes from 20 January 2025.

  4. amendment to section 6.8 Increasing the trustee’s fixed fee.

  5. addition of section 2.5 - Trust deed information leaflet and adequate time, effective from 20 January 2025.

  6. Updated to take into account The Protected Trust Deeds (Miscellaneous Amendment) (Scotland) Regulations 2024 which came into force on the 1st July 2024. New additions to the guidance includes: Removal of protected status of a trust deed and a review process, Debtor discharge due to extenuating circumstances prior to the 48 month minimum term and Trustee refusal of debtor discharge process, previously part of the PTD Protocol, now in legislation for all trustees to follow

  7. Update to section 5.1 - Contributions to reflect recent change to Common Financial Statement registration.

  8. Supporting document published on website

  9. Published on website

  10. Amended - PTD Protocol

  11. Amended

  12. First published

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