Deputyship & Annual Accounts

Duty to submit an Annual Report

A Deputy appointed by the Court of Protection to manage the financial affairs of a person who lacks mental capacity is required to complete and submit an Annual Report to the Office of the Public Guardian (OPG).

Preparing the Annual Report

The annual deputyship account and report must be submitted to the OPG using a prescribed form. It is necessary to ensure that the accounts detail all financial transactions that took place over the previous 12 months, along with other relevant information. Therefore good record keeping by the Deputy is vital.

Legal fees

The Court of Protection Rules 2007 provide for a solicitor’s legal fees to be claimed where the solicitor acts a Professional Deputy. The solicitor can claim fixed costs or have costs assessed by the Court. The 2011 fixed costs for preparing and submitting an annual report or annual account to the OPG is £235 plus VAT.

How we can help with an Annual Report and Accounts

Where one of our solicitors is appointed as a Professional Deputy we will prepare and submit the annual report to the OPG.

Where a Lay Deputy is acting, we can assist the Deputy with the preparation and submission of the annual accounts and report however it is imperative that good financial records are maintained in order to keep costs to a minimum.

Our specialist lawyers will go through the financial details with you and complete the court documentation.

When doing this we can advise you in relation to your duties and obligations concerning the management of the person’s financial affairs including tax issues, investment policy, property holdings, care fees and welfare benefits.

Knowing that the financial affairs are all in order and have been professionally checked and approved gives our clients absolute peace of mind.

For FREE initial advice on preparing and submitting the Deputyship Account give us a call on 0808 139 1606 or email us at [email protected]