The fees stated in this schedule are trust foundation fees and do not relate to any ongoing services after foundation of a trust, e.g. trust administration. They are based on the gross total payment for the personal injury. That is the total payment made or anticipated and not the value of any interim or similar payment in isolation. The applicable fee payable will be confirmed by us.
|
Gross Total Payment for the Personal Injury |
Foundation Fee for the Trust |
| Under £10,000 |
£550 + VAT |
| £10,000 to £20,000 |
£570 + VAT |
| £20,000 to £30,000 |
£600 + VAT |
| £30,000 to £40,000 |
£635 + VAT |
| £40,000 to £50,000 |
£670 + VAT |
| £50,00 to £60,000 |
£700 + VAT |
| £60,000 to £70,000 |
£730 + VAT |
| £70,000 to £80,000 |
£765 + VAT |
| £80,000 to £90,000 |
£835 + VAT |
| £90,000 to £100,000 |
£910 + VAT |
| £100,000 to £150,000 |
£995 + VAT |
| £150,000 to £200,000 |
£1080 + VAT |
| £200,000 to £250,000 |
£1150 + VAT |
| £250,000 to £300,000 (basic service threshold) |
£1350 + VAT |
| £300,000 upwards |
£1350 + VAT |
N.B. The fees stated are valid for two months after issue to the client.
For amounts over £300,000 fees are set by negotiation because more complex considerations often apply to larger amounts. Fees for Compensation Protection Trusts (Personal Injury Trusts, Special Needs Trusts or Disabled Trusts) with ongoing receipts due from structured or periodical awards are also agreed by negotiation.
For children and young people we usually act as consultants to the litigating solicitors who are contractually liable to meet our fees. For more information see Specialist Trust Services for Children & Young People.
Do not be deterred by trust foundation costs. They can be paid when the compensation is received. The trust can save you much more than it costs.
Our fixed fees for specific areas of Trust Administration work are as follows:
Completion of a Beneficiary's Tax Return £300 + VAT.
Completion of a Zero Tax Return. If there is nothing to declare, we charge £75 + VAT administration fee only.
Completion of Annual Accounts £750 + VAT.
If the trust fund is under £50,000 a simplified statement may be submitted at a cost be agreed directly.
Our fees are usually charged half yearly in arrears.
Partner £220 per hour + VAT
Senior Solicitor £175 per hour + VAT
Trust Accountant £175 per hour + VAT
Trust Administrator £135 per hour + VAT
Do not be deterred by trust administration costs. A trust operated efficiently and effectively can continue to preserve entitlement to means-tested benefits and local authority assistance.
We deal with charges clearly to avoid confusion. However, if you are concerned your first step should be to speak to the Head of Trust Administration, Lisa Eato or to David Coldrick as head of the whole Compensation Protection Service. Paul Nash is the Managing Partner in overall charge of quality of service at Wrigleys Solicitors LLP.