Reporting duties for a financial deputy

The role of a deputy is similar to that of an attorney. If you are acting as an attorney, this will be because the person you are acting for specifically chose you to act and they made a document called a ‘power of attorney’ at a time when they had capacity to do so.

A deputy on the other hand, is someone who has had to apply to the Court of Protection to act on behalf of someone who no longer has capacity. The Court of Protection takes the appointment of deputies extremely seriously, as it is important to ensure that the person applying to act is suitable.

A key way in which a deputy is held to a higher level of accountability than an attorney is by way of financial reporting.

‘If you are a financial deputy for someone, you will need to report annually to the Office of the Public Guardian,’ says Susan Owens, Senior Partner and head of the wills and probate team at Borneo Martell Turner Coulston.

‘This reporting includes providing a thorough and accurate account of all monies received and spent, as well as an explanation of any decisions you have made. To ensure compliance with the reporting duties, it is vital that you retain copies of all statements, receipts, invoices, and other such paperwork throughout the year.

What you should report and what evidence needs to be sent

The reporting documents include details of all assets and liabilities of the person for whom you are appointed as deputy, as well as the income and expenditure throughout the year. This should include any state benefits, any interest or other income payments from investments, as well as any other income received on behalf of the person for whom you are acting.

Expenditure may include such items as care costs, living expenses, food and drink, activities, and ad hoc purchases.

In addition to financial information, you will need to state in the report what decisions you have made on the person’s behalf and explain your reasons for having made those decisions.

How to approach financial reporting

Whilst the report is only made at the end of each deputy year, it is advisable to collect paperwork throughout the year and collate this into a thorough record.

At the end of the deputy year, the report is due within two months. You should begin working on the report as soon as all the relevant information is available. If the two months are close to expiring despite all your best efforts, you must make sure that you apply to the Office of the Public Guardian for an extension. You will need to explain the reasons for your request and when you anticipate being in a position to finalise and submit the report.

How we can help

The role of a deputy is a serious one that attracts strict requirements. Professional legal advice will help you ensure that you are aware of the legalities and that you report correctly and fully. Our solicitors can help you to be sure you have covered all the information required.

For further information, please contact Susan Owens on 01604 622101 or email susan.owens@bmtclaw. co.uk. Borneo Martell Turner Coulston has offices in Northampton and Kettering.

Borneo Martell Turner Coulston has offices in both Northampton and Kettering.

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