The SNP has written off the value of a motorhome bought with party funds by former chief executive Peter Murrell, according to newly published accounts. The vehicle, valued at £100,000, has been removed from the party's balance sheet.
Murrell, the estranged husband of former first minister Nicola Sturgeon, pleaded guilty to embezzling more than £400,000 from the SNP earlier this year and was sentenced to over five years in prison.
Motorhome became a symbol of scandal
During the long-running Operation Branchform investigation, the motorhome—parked at the Fife home of Murrell's mother—became an object of public scorn. Initially claimed to be for campaigning during the pandemic, court records later showed Murrell had purchased motorhome holiday guides around the same time.
The accounts also reveal that Murrell is still owed £60,000 from a loan he gave the party in 2021. The figure remains on the balance sheet, but the SNP says Murrell has not formally requested repayment, and there is uncertainty over whether it will be repaid.
Uncertainty over loan repayment
A note in the accounts states: “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 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 chief executive, and whether it may ultimately be waived or written off.”
The note adds that this uncertainty represents a significant judgment by the party in assessing the liability, disclosed to ensure the financial statements provide a true and fair view.
Party seeks to recover embezzled funds
A proceeds of crime hearing is expected next month, with the party seeking “to recover from the guilty party the full amount embezzled,” according to treasurer Peter Grant.
First Minister John Swinney said the accounts, covering 2025, show the party's “formidable financial strength” ahead of May's Holyrood election. The SNP reported a £509,903 surplus, compared to a near-£400,000 deficit the previous year, largely due to staffing cuts following a 2024 redundancy push.
Membership income exceeded £1.7 million, with the party reporting 50,443 members at the end of June—down from a peak of over 100,000 under Sturgeon and a further drop from 56,011 in 2024.
Swinney said on X: “The publication of the SNP’s accounts today shows that at the end of 2025 the party was in a position of formidable financial strength, having made a surplus of more than £500,000 over the year. The rebuilding of the party’s finances allowed us to run a well-resourced campaign that took our positive message to every community in Scotland and made a major contribution to our historic election victory.”
