THE SNP still owe former chief executive Peter Murrell £60,000 – but may never pay him back, according to the party’s accounts.
Murrell, who is facing an embezzlement charge after the conclusion of the police probe into the SNP’s finances, loaned the party £107,620 between June and September 2021. However, £47,620 of that balance was repaid between August and October that same year, the accounts state.
As of December 31, 2024, the SNP still owe Murrell the remaining £60k. However, the party’s newly published accounts state: “There is no formal loan agreement in place, no interest is charged on the outstanding balance, and no specific repayment terms have been agreed. The former executive chief executive has not formally requested repayment of the outstanding balance.
“Due to the absence of agreed repayment terms and the lack of recent communication regarding settlement, there is uncertainty as to when, or if, this loan will be repaid to the former executive chief executive, and whether it may ultimately be waived or written off.”
The motorhome
Further linked to Murrell is the motorhome which was purchased by the SNP for £100,790. The accounts report that it is now estimated to be worth £41,284.
The accounts note: “This asset has been impounded by authorities since April 2023 and has not been available for the party's use since that time. The party retains ownership of the motorhome and expects its future release.
“Due to the ongoing impoundment, the party does not have current information regarding the physical condition or state of repair of the motorhome. Accordingly, the carrying amount of £41,284 reflects the motorhome at its depreciated cost, based on the party's depreciation policy for motor vehicles, and on the assumption that there has been no additional impairment beyond normal depreciation that the party is currently unaware of.”
Deficit and membership
Elsewhere, the newly published documents report that the SNP moved from having a £661k surplus at the end of 2023, to a £455k deficit at the end of 2024.
However, it is noted that “a deficit of this nature is not unusual during a parliamentary election year”.
The documents further report that the SNP had 56,011 members on June 1, 2025, which is noted to be “far and away Scotland’s largest political party”.
The accounts add: “We continue to face the challenge of membership numbers declining from historic and extraordinary highs, for a variety of economic, political and other reasons.
“Not only does this impact on membership income, but also other income streams too.”
The accounts have been published by the Electoral Commission and have been independently audited.
The auditors stated: "Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the party's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue."
