Question

To ask the Secretary of State for Business, Innovation and Skills, if he will direct the Insolvency Service to reduce its fees in cases of insolvency.

The Insolvency Service is required to set its fees in line with the principles laid out in HM Treasury’s “Managing Public Money” guidance, which specify that charges should be set to recover full costs. This approach is intended to make sure that the government neither profits at the expense of consumers nor makes a loss for taxpayers to subside. Fees charged are set out in secondary legislation and are reviewed annually.