Our fee is completely fixed. If you meet our criteria, you get the headline price of £995+VAT. If you don’t meet our criteria, we can’t assist you.
The two direct disbursements are:
Statutory advertising – expect £223.50+VAT. This is for three separate advertisements in the London Gazette, advising of various stages of the liquidation. (NB this has only changed from 6 April 2017, cases prior to that required four adverts so a higher cost here).
Bond – this is effectively an insurance policy, protecting your funds against malpractice by us whilst under our control. Prices for this vary with the net asset value, but will typically be from £70-300, unless the net asset value is particularly high. There is no VAT on the bond.
Please note these costs are payable to third parties independent of ourselves. Their prices do fluctuate and are beyond our control. We keep our eye on these markets to ensure we’re getting you competitive rates to help you retain as much of your cash as possible.
In addition, a solicitor (any qualified solicitor) will need to witness your signature on the Declaration of Solvency, and also certify that your copy photo ID is a true likeness of you.
Costs will vary, so ring around a few local firms. You’re not getting any legal advice, literally just confirmation it was you that signed a document, so expect to pay perhaps £50 for this.
VAT is chargeable on our fee and advertising disbursement. Most of our clients will have been on the flat rate scheme, and even when they weren’t, the hassle and additional delays caused by attempting to recover ~£200 in VAT means that we do not attempt to recover the VAT in the rare circumstances where we might be able to.
All in costs including VAT tends to end up being £1,500 – £1,800 dependent upon net assets, unless the net asset figure is particularly high (eg >£500k).