Question

To ask the Secretary of State for Business, Innovation and Skills, what factors the Insolvency Service takes into account when reviewing the fees it charges.

The Insolvency Service sets its fees in accordance with HM Treasury’s ‘Managing Public Money’ principles which require that the standard approach is to set charges to recover the full costs of dealing with the cases it administers. The costs which must be taken into account are set out in the Managing Public Money Guidance published by HM Treasury.

The intention with insolvency fees is to ensure that those who benefit from the insolvency regime should be the ones to fund it, so that an efficient and fair insolvency regime can be provided. When reviewing fees, Ministers consider the impact of any changes on the different interests that might be affected through an Impact Assessment.