On 16 January 2015, the Ministry of Justice decided to increase court fees for cases involving claims above a value of £10,000, with the introduction of fees based on 5% of the value of the claim in specified money cases. A maximum fee to issue proceedings will be set at £10,000. For example, if a claim has a value of £100,000 the court issue fee will be £5,000. This is over four times as much as the current fee of £1,115 for cases between £100,000 and £150,000.
These changes will be introduced by the Civil Proceedings and Family Proceedings Fees (Amendment) Order 2015. Currently in draft format, it is expected in March 2015 with a view to the new fees entering into force before the start of the 2015/16 parliamentary session.
In order to take benefit of the current courts before fees are substantially increased, Jagdip Bains, associate solicitor in the dispute resolution team at Ansons Solicitors, advises that parties should issue proceedings sooner rather than later.
Cash-flow is a large problem for small business and many firms have to pursue late payments through the court. The increase will deter litigants from issuing proceedings to recover debts because they will be faced with high court fees.
Ansons Solicitors specialise in debt recovery and are able to offer fixed fees for standard undisputed debt recovery matters. Our expert lawyers can help advise you if you are having trouble recovering payment from a customer.
For further information about the increase in fees and advice on recovering debt for your business, please contact Jagdip Bains in the dispute resolution team, on 01543 267 196 or email firstname.lastname@example.org. Ansons Solicitors has offices in Cannock and Lichfield, Staffordshire.