THE SNP’s annual accounts paint a mixed picture for the party, with its financial health improving as membership numbers continue to fall.
The new figures from the SNP, published by the Electoral Commission on Thursday, show that they had reversed a deficit and culled around a fourth of their headquarter staff.
John Swinney said: “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.”
Membership continues to fall
The SNP’s membership figures have continued to fall with the party reporting around 51,000 members in 2025. That’s down on the 64,525 they reported the previous year and fewer than the 74,889 they reported in April 2023.
The party said it was “primarily funded” by members.
The SNP’s membership numbers have been the subject of intense scrutiny over the years, having reached a peak of 125,691 in 2019.
Murray Foote resigned in 2023 after he gave false membership numbers to the media, having denied that 30,000 people had left the party in a two-year period.
Other Holyrood parties, such as Scottish Labour, do not routinely publish membership numbers.
Finances improve
Despite declining membership, the party appears to be in decent financial health after a big cost-cutting operation in 2024.
The accounts noted that the SNP had been in a deficit of £383,707 in 2024 but now has a surplus of £509,903 for 2025.
The document said: “While this is partly explained by the fact that there were no scheduled elections in 2025 it still represents a significant improvement in the party's finances.
“This was only possible thanks to some very difficult cost-cutting decisions in 2024.”
Employees fall by a fourth
Part of those “very difficult cost-cutting decisions” was a major reduction in staff numbers, which fell by around a fourth.
The party went from having 26 members of staff in SNP headquarters to 19 in 2025, the filing showed.
This is reflected in a reduced wage bill which dropped form £1.2 million in 2024 to £780,878 the following year.
Donations plunge
Donations to the SNP fell from £942,603 in 2024, a General Election year, to £613,613. The lower headline figure of £442,577 in donations is explained by the SNP as not including legacy income, grants, and other amounts.
The accounts said: "The total value of donations reported to the Electoral Commission during 2025 was £613,613 (2024 £942,603).
“The figure of £613,613 reported to the Electoral Commission differs from the donations figure above as it includes amounts reported as legacy income, grant income, and amounts received by local accounting units.
“The donations figure of £442,577 includes amounts below the reporting threshold, of £11,180. Amounts reported to the Electoral Commission are reported on a cash basis rather than the accounting accruals basis.”
Impact of Peter Murrell embezzlement case
The Peter Murrell case looms large over the SNP’s most recent accounts, with a note near the beginning of the document setting out how the party hoped to recoup the “full amount embezzled” by the disgraced former chief executive.
The accounts also revealed that the party had written off the value of a motorhome Murrell bought using swindled cash.
But the former party chief is still owed £60,000 he loaned the SNP in 2021.
