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Court fees for money claims set to rise

February 2015

Court fees for money claims set to rise

Originally anticipated to come into force on 1 March 2015, The Civil Proceedings and Family Proceedings Fees (Amendment) Order 2015 was expected to take effect in April 2015. Following House of Lords approval on 4 March, this date has now been revised and is likely to be as early as Monday 9 March 2015.  The Order will mean yet another increase in court fees payable upon issuing claims to recover money.

Court fees for issuing proceedings for a monetary value of between £0 and £10,000 will not change. For claims of £10,000 or more, however, the new fees will be equal to 5% of the value of the claim, with a maximum fee of £10,000. Any interest claimed on the debt will be taken into consideration when calculating the fee payable.

The below table demonstrates just how significantly the fees will change. 


VALUE OF CLAIM 
                  

CURRENT FEE


NEW FEE (5% of the value of the claim)

Exceeds £10,000 but does not exceed £15,000

£455
between £500 to £750
Exceeds £15,000 but does not exceed £50,000

£610
between £750 and £2,500
Exceeds £50,000 but does not exceed £100,000

£910
between £2,500 and £5,000
Exceeds £100,000 but does not exceed £150,000

£1,115
between £5,000 and £7,500
Exceeds £150,000 but does not exceed £200,000

£1,315    
between £7,500 and £10,000
Exceeds £200,000 but does not exceed £250,000

£1,515
5% of the value of the claim (capped at a maximum of £10,000)
Exceeds £250,000 but does not exceed £300,000

£1,720
£10,000
Exceeds £300,000 (or not limited)

£1,920
£10,000

It’s clear to see that this will have a significant impact on Claimants seeking to recover higher value debts. For example, a Claimant seeking to recover a debt of £90,000 will be required to pay an issue fee of £4,500, whereas they would previously have paid £910.

There is still time to issue claims at the current rates before the increased fees are expected to take effect. For anyone considering issuing proceedings, it would be advisable to take advantage of the potentially short time-frame available and to ensure that claims are issued straight away, in order to benefit from the lower fees. 

 

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