Our standard charges and pricing
We do as much as we can to be open and transparent about our fees and the costs associated with all the work we do. Like most professionals our normal basis of charging is on time costs based on charge out rates which vary depending on the grade and experience of individuals involved. We believe that our charge out rates are very competitive and we provide a more personal but otherwise similar level of service to the larger national business rescue and insolvency firms but at around half the price.
General advisory work
We don’t charge for initial meetings and won’t charge until we agree the terms of an engagement with you. The only exception to this is non business related cases (for example consumer credit card problem debt) where we will charge a fixed fee for initial meetings. We always agree a basis for charging before work commences – usually in accordance with the time spent on your case but sometimes on a percentage of results achieved. If we are charging on a time basis we will give you an estimate of the total fee and agree further fees if necessary.
Formal insolvency work
In formal insolvency appointment cases we normally charge on a time basis subject to the law and guidelines laid down by our professional body listed below. Click the download links in the first table to view our charging and expenses policies for appointments pre and post 1 October 2015 and in the second table to view the official creditor guides.
Charging and expenses recovery policies:
A creditors’ guide to fees:
| For insolvencies effective from 1 April 2021 | For insolvencies effective until 5 April 2010 | For insolvencies effective until 31 October 2011 | For insolvencies effective from 1 November 2011 to 30 September 2015 | For insolvencies effective from 1 October 2015 | For insolvencies effective from 6 April 2017 | |
|---|---|---|---|---|---|---|
| A creditors' guide to administrators' fees | Download | Download | Download | Download | Download | Download |
| A creditors' guide to bankruptcy fees | Download | Download | Download | Download | Download | Download |
| A creditors' guide to liquidators' fees | Download | Download | Download | Download | Download | Download |
| A creditors' guide to voluntary arrangement fees | Download | Download | Download | Download | No changes | Download |
| A members' guide to liquidators' fees in a solvent liquidation | Download | N/A | N/A | N/A | Download | No changes |
Currently our hourly charge out rates are:
| Grade | London rates | Regional rates |
|---|---|---|
| Director | £740 | £540 |
| Associate Director/Licensed Insolvency Practitioner | £690 | £520 |
| Associate | £630 | £490 |
| Senior Manager | £560 | £440 |
| Manager | £540 | £410 |
| Assistant Manager | £490 | £390 |
| Senior Professional | £440 | £310 |
| Administrator | £340 | £250 |
| Assistant | £190 | £190 |
| Assistant Administrator | £180 | £180 |
| Trainee | £90 | £90 |
We believe these are very competitive and about half of the costs charged by national firms.
Transparency for insolvency fees
New rules laid before Parliament on 4 March 2015 will bring an end to the uncertainty of unlimited hourly charges in insolvency cases by requiring insolvency practitioners to provide upfront estimates of the cost of working on them. Read more here >
R3 Insolvency fees and the cost of regulation
Insolvency fees face frequent scrutiny and criticism. Media headlines have often focused on the amount charged by insolvency practitioners (IPs) in high-profile cases. Unfortunately a great deal of the detail behind the headlines often gets missed – leading to an unfair representation and misunderstanding of the insolvency profession and the fees they charge for the work they carry out. This paper looks at how insolvency fees are charged, regulated and paid. Download here
