If you are professional Deputy, it is worth remembering that you can take fixed fees for certain aspects of Court of Protection work.
Practice Direction 19B provides authority for the following fixed costs:
- Deputyship Application, which includes work up to and including the date upon which the court makes an order – £950 (plus VAT)
- First Year General Management – £1670 (plus VAT)
- Second and subsequent years – £1320 (plus VAT)
- Preparation of the OPG Report – £265 (plus VAT)
- Basic HMRC income tax return – £250 (plus VAT)
- Complex HMRC income tax return – £600 (plus VAT)
- Conveyancing – A value element of 0.15% of the consideration with a minimum sum of £400 and a maximum sum of £1,670 plus disbursements
Please remember that where P’s net assets are below £16,000, the professional Deputy may take an annual management fee not exceeding 4.5% of P’s net assets on the anniversary of the court order appointing the professional as Deputy.
It is also worth noting that you can take fixed fees for the annual management period in addition to the fixed fee for the preparation of the OPG report.
Don’t forget that if you are a professional Deputy and you choose for your general management costs to be assessed by the SCCO, you are entitled to take payments on account for the first three quarters of the year, which are proportionate and reasonable, considering the size of the estate and the aspects of work that have been undertaken. Interim quarterly bills must not exceed 25% of the estimated annual management charges, no more than 75% for the whole year.
The link to Practice 19B can be found here:
Practice Direction B Fixed Costs in the Court of Protection (judiciary.uk)
For further information or any costs assistance, please contact Danielle Walker here.