Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he will review trends in the level of costs charged by insolvency practitioners.

The Government currently has no plans to review trends in the fees charged by Insolvency Practitioners.

The insolvency regime provides for the regulation of Insolvency Practitioners including the fees they charge. The Insolvency Rules 2016 require Insolvency Practitioners to provide creditors with an upfront estimate of costs that acts as a cap on fees and gives a process for challenge, including through the courts if necessary.

Insolvency Practitioners are regulated by Recognised Professional Bodies who apply the regulatory standards contained in the Insolvency Practice rules to ensure fees are fair and reasonable reflections of the work undertaken in an insolvency appointment.