Accountant in Bankruptcy (AiB) has released experimental statistics reporting statutory debt solutions and company insolvencies in Scotland for the financial year 2022-23 (April 2022 to March 2023).
Scottish Statutory Debt Solutions Statistics for 2022-23
- There were 8,001 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in Scotland in 2022-23, 232 (3.0%) more than in the previous financial year 2021-22.
- A total of 2,357 bankruptcies were awarded during this quarter – a 2.3% increase on 2021-22. PTDs increased by 3.3% to 5,644 over the same period.
- There were 3,268 applications for moratoria granted in 2022-23. This is 103 (3.3%) more than the figure granted in 2021-22.
- There were 4,947 debt payment programmes (DPPs) under the Debt Arrangement Scheme (DAS) approved in 2022-23, compared with 4,489 approved in 2021-22, an increase of 10.2%.
- A total of 1,918 approved DPPs under the DAS were completed in 2022-23 – a 10.2% increase on 2021-22.
- There were 1,599 DPPs revoked in 2022-23 – 11 (0.7%) more than in 2021-22.
- In 2022-23, around £47.0 million was repaid from debtors under the DAS compared with the £43.8 million repaid in 2021-22.
- For all bankruptcy cases (excluding Minimal Asset Process) concluded in 2022-23, the mean (average) dividend paid to ordinary creditors including those with zero dividends was 13.1 pence in the £, compared with 9.2 in 2021-22.
- For all PTDs concluded in 2022-23, the mean dividend paid to ordinary creditors including those with zero dividends was 15.8 pence in the £, compared with 16.0 in 2021-22.
- The number of Scottish registered companies becoming insolvent or entering receivership increased in 2022-23, with 1,132 companies becoming insolvent compared with 854 in 2021-22.
- The figures released today are classed as Experimental Statistics though these were produced in accordance with the professional standards set out in the Code of Practice for Official Statistics.
Read the full article here – Scottish Statutory Debt Solutions Statistics: Financial year 2022-23 | Accountant in Bankruptcy (aib.gov.uk)
