Annual account

You will be expected to send us a yearly record of your financial transactions with the adult's estate. We provide a form to allow you to do this. We will tell you when your annual review is due and the time period that it should cover.

What types of annual accounts are there?

The type of account requested is based on the circumstances of each case, we will either ask for a simplified or standard account. A simplified account will apply when the adult’s estate is less than £20,000. We are looking for you to provide general, low level information as the adult’s estate is under £20,000. However more detailed information is required if you have been asked to complete the standard account form.

 Examples – how to complete the standard account

We have provided some examples of completed sections of the full annual account form to outline how the form should be completed for the given scenarios. We hope that this resource will help you complete the form and highlight the necessary supporting documentation to send.

Schedule 1      heritable property          Schedule 4      Other income     

Schedule 1      moveable assets           Schedule 5      Living expenses

Schedule 2      Interest payment           Schedule 6      Other expenses

 Schedule 3      Income                          Summary
 
You might find the case studies and our worked examples helpful when completing your own annual account form.

Is there a fee?

The Public Guardian charges a fee for reviewing your annual account. This is paid from the adult's estate. The amount due will depend on whether you are submitting a simplified account or standard account. We will tell you more about this in our letter when we ask for your account.

There are certain circumstances where you might be entitled to a fee exemption.

What happens next?

When we receive your documentation, we will carry out a review of the information and evidence you have supplied. We might have to contact you before we can approve the account if clarification or further information is needed. Once we are satisfied that the account is in order we will write to you to confirm that your account is approved. We will also return any supporting evidence that you sent us.

We will send you a certificate to prove that your account has been approved and to let you know the amount of remuneration due to you. It is important that you keep your certificate safe, as the company who provided the bond of caution may need to see it.