Scottish Insolvency Statistics: January to March 2018 (2017-18 Quarter 4)

Accountant in Bankruptcy (AiB) today released official statistics reporting personal and company insolvencies in Scotland for the fourth quarter (January to March 2018) of 2017-18 and provisional estimates for the 2017-18 financial year.

Scottish insolvency statistics in 2017-18

Provisional estimates show that in 2017-18 personal insolvencies in Scotland increased by 4.7% to 10,503 from 10,032 in 2016-17. Estimates for 2017-18

are provisional until final figures are published in July 2018.

Personal insolvencies (bankruptcies and protected trust deeds (PTDs)) rose for the second consecutive year but remain below levels seen between 2005-06 and 2014-15.

The increase in personal insolvencies in 2017-18 was due to PTDs, which increased by 9.0% on the previous year.

In 2017-18, there were 2,322 debt payment programmes (DPPs) approved under the Debt Arrangement Scheme (DAS), 89 more than a year earlier. In 2017-18, £37.6 million was repaid from debtors under DAS compared with £37.3 million in 2016-17.

Corporate insolvencies increased from 846 in 2016-17 to 886 in 2017-18.

Scottish Insolvency Statistics for January to March 2018 (2017-18 Q4)

There were 2,501 personal insolvencies in Scotland in 2017-18 Q4, similar to the 2,516 personal insolvencies in the quarter in the previous year (2016-17 Q4).

There were 1,038 bankruptcies awarded during this quarter, a 7.0% decrease on the same quarter in 2016-17. PTDs increased by 4.5% to 1,463 over the same period.

There were 490 DPPs approved under DAS compared with 531 in the same quarter of 2016-17.

A total of £9.3 million was repaid through DAS during this quarter, compared with £9.2 million in 2016-17 Q4.

The number of Scottish registered companies becoming insolvent or entering receivership increased in the fourth quarter of 2017-18, with 259 companies becoming insolvent compared with 155 in 2016-17 Q4. There were 119 members’ voluntary liquidations (solvent liquidations), the same as in 2016-17 Q4.

The figures released today were produced in accordance with the professional standards set out in the Code of Practice for Official Statistics.