# The Insolvency Practitioners and Insolvency Services Account (Fees) (Amendment) Order 2024, Note: Explanatory note


(This note is not part of the Order)
This Order amends the Insolvency Practitioners and Insolvency Services Account (Fees) Order 2003 to increase the annual fee payable to the Secretary of State by professional bodies recognised under section 391 of the Insolvency Act 1986.
Article 2 increases the sum used to calculate the amount payable by each body from £470 to £610. This sum is then multiplied by the number of members authorised by that body to act as insolvency practitioners. The new annual fee applies to calendar years from 1st January 2025.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary sector or community bodies is foreseen.

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Source: https://www.legislation.gov.uk/uksi/2024/725/note (the official version)
Page: https://openlegislation.uk/insolvency-practitioners-and-insolvency-services-account-fees-amendment-order-2024/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.