Following on from our post which was published yesterday, Parliament has approved the increase to court fees.
The increase is expected to come into force on Monday, 9 March. The court fee for issuing court proceedings in money claims over £10,000 will be 5% of the value of the claim. The fee for claims over £200,000 will be capped at £10,000.
To put these changes into context, if your business is owed £150,000 for example, the court fee increases from £1,315 to £7,500. However, it is important to remember that if you are successful at trial, you can usually expect to recover the court fee from the losing party.
The changes have been introduced despite considerable opposition. But what do you think? Will this increase in court fees put you off issuing a claim for a disputed debt? Let us know your thoughts via the survey below.
If your business is owed:
- £100,000 – the current court fee is £1,115. The new fee will be £5,000.
- £150,000 – the current court fee is £1,315. The new fee will be £7,500.
- £200,000 – the current court fee is £1,515. The new fee will be £10,000.
Will this increase in court fees for money claims over £10,000 to 5% of the value of the claim (capped at £10,000 for claims of £200,000 and over) put you off issuing a claim for a disputed debt?