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Charge out rates and Disbursement policy

In accordance with Statement of Insolvency Practice 9 (“SIP 9”) covering fees and disbursements, we are required to disclose to you our policy for recovering non-specific disbursements, and the charge out rates for the various grades of staff who may be involved in this case.

Remuneration

The office holder(s) will seek approval from creditors to draw remuneration on a time cost basis, in accordance with the rates detailed below.

 Hourly charge out rate (£) 
Grade01/02/2014 to 31/10/201401/11/2014 onwards
Director/Insolvency Practitioner350-500500
Manager260-400400
Assistant ManagerN/A395
Team LeaderN/A390
Senior Administrator240330
Administrator

(1-5 years experience)

120-240230-300
Secretarial & Support100-130130

All time is recorded in 6 minute units.

Category 1 Disbursements

In accordance with SIP 9, these do not require the approval of creditors and are costs where there is specific expenditure directly referable both to the appointment in question and a payment to an independent third party.These may include advertising, room hire, insurance, travel expenses etc.

Category 2 Disbursements

In accordance with SIP 9, these require the prior approval of creditors.

Category 2 disbursements are charged in accordance with the liquidator’s prevailing recovery policy at the time the disbursement is incurred. The rates applicable from 1 November 2014 are detailed below:

DisbursementCharge
Search fees£10 per documentOn appointment
Document Upload Centre charge£150On appointment
Room Hire where meeting held at Wilson Field office£100On appointment (where appropriate)
Mileage45p per mileOn appointment (where appropriate)
Postage, stationery, photocopying etc£10 per member and creditor per yearOn appointment and annually
Insolvency software fee£150 per yearOn appointment and annually
Storage of books and records£80 per box per yearOnce records are logged and then annually

In common with all professional firms, our charge out and disbursements rates increase from time to time. We reserve the right to change the rates without prior notice to you. Any change will be reported in the next statutory report to creditors.

How we can help

We provide a range of insolvency advice, services and procedures, from less-formal time to pay arrangements(TTP) with HMRC, to administrations, liquidations and voluntary arrangements - to name just a few. Whether you operate as a sole trader, run a large company or are a consumer in financial trouble, we can help you. No matter how hopeless you may think the situation is, there's nothing we haven't seen before in our years of experience in the industry.

Our licence

Wilson Field is licensed and regulated by the Institute of Chartered Accountants in England and Wales (ICEAW). Our practices are closely monitored to ensure we adhere to strict guidelines.

The Institute of Chartered Accountants in England and Wales

Our Values

We provide a facility to individuals and businesses who have found themselves in financial difficulties, with a service that promotes a positive outcome for all.
To provide a workplace for our colleagues where they are valued and encouraged and work in a friendly, fair and rewarding enviroment.

Do the right thing

Build relationships

Champion progression

Encourage entrepreneurialism