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:
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.
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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