Wednesday, 20 April 2011

Insolvency Service - petition charges changes

The Insolvency Service (IS - pictured) has announced changes to the petition charges for bankruptcy petitions and winding up petitions. The costs are going up. The IS note:

"1. For petitions presented up to and including 31 May 2011 - NO CHANGES to current deposits.
2. For petitions presented on or after 1 June 2011:
a. Debtor’s deposit on a bankruptcy petition increases from £450 to £525.
b. Creditor’s deposit on a bankruptcy petition increases from £600 to £700.
c. Creditor’s deposit on a winding up petition increases from £1,000 to £1,165.
d. No changes to bankruptcy or company case administration fees.
e. No changes to the Secretary of State fee or fee bands.

The case administration fee is a fee charged by The Insolvency Service to every bankruptcy (£1,715) and winding up (£2,235) case on the making of a bankruptcy or winding up Order. The case administration fee is partly discharged by the deposit paid on the petition."

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