Final Year of Trust...
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Final Year of Trust Deed

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Joined: 10 months ago
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Hi there.  I'd like some advice please.  I am in my final year of my Trust Deed, having just had my last annual review in May.  The last payment of the TD is due to be taken in May 2024, so I don't expect to have another annual review.

For the past couple of years, I have received an annual bonus from my employer, and I have spoken with the Trust Deed people each year and arranged to send a significant percentage of this bonus over to the TD.  This tends to be paid in March of each year.

My question is, if I get paid a bonus in 2024 (and it is an "if", as it is not guaranteed), and I do not declare it to the TD people, are they likely to check?  Is there a chance that I may be able to keep my full bonus in March, and that they will not ask about it before the TD ends in May?  

I'd like to be able to keep the full amount of any bonus I get, but I'm a little concerned about the risk and want to understand it more.



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Kevin Mapstone
Member Admin
Joined: 15 years ago
Posts: 4237

Hi Eddie, thanks for posting.

As you probably suspect, you have a legal obligation to make your Trustee aware of any windfall that comes within 4 years of your Trust Deed being signed.  This would include your bonus.

Given that you have had regular bonuses previously I think it is highly likely that they will check for another next year.  In any case, most Trustees will do another review at the end of the 4th year as a matter of course, just in case there is anything like this that has not been declared.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.