In December 2018 the Solicitors regulation Authority (SRA) published their new Transparency Rules, with the aim of making sure that consumers have the information they need to make an informed choice of legal service provider, including understanding what the costs may be. The rules require all regulated law firms to publish information on the prices they charge in relation to certain services.
Given the variety of legal issues which fall under this heading, it is difficult to provide a generalised cost estimate. Therefore, CTT Law offer a free 30-minute consultation to discuss your specific legal issue so we can be better placed to offer a tailored cost estimate based on the legal services required. This will enable you to make an informed decision.
Our charges are calculated by reference to the time spent by our fee earners in respect of any work which they do on your behalf. This will include the preparation for and attendance at any follow up meetings, reading and working on documents, written correspondence including emails and any time spent from the office when this is necessary.
For more information, please see our Terms of Business using the link provided below.
Hourly Rates
| Grade of fee earner | Hourly rate (£ excluding VAT) |
|---|---|
| Directors / Solicitors with 8 years + PQE in area of practice | £325.00 |
| Solicitors / Legal Executives with 4 years + PQE in area of practice | £270.00 |
| Fee earners with less than 4 years PQE in area of practice | £235.00 |
| Junior Fee earners / Trainee Solicitors | £175.00 |
| Legal Assistants / Paralegals | £130.00 |
Money on account of costs
It is CTT Law’s usual practice to request money on account of costs. This means paying money up front which enables us to start work on your case. This money is deposited in our client account and will be retained to cover the work we do for you.
It is important to note that the money deposited in our client account is unlikely to cover the total cost of your matter. If the work conducted on your file exceeds the initial money paid upfront, we may request that further money be placed on account as the matter progresses. Please note that you will be billed before any deductions are made to the balance of your funds and your fee earner will provide regular cost updates to keep you well informed.
Various other expenses (disbursements) may arise in respect of a matter including court fees, counsel’s fees, expert’s fees, and so on… We have no obligation to make such payments on your behalf unless you have provided us with funds for that purpose.
Disbursements
Disbursements are any costs or expenses paid or to be paid to a third party on behalf of the client or trust. We have no obligation to make such payments on your behalf unless you have provided us with funds for that purpose. Disbursements include expenses such as Court fees, the fees associated with obtaining expert reports in support of your claim and Barrister fees if specific advice or representation at a hearing becomes necessary.
A Barristers fee is determined by their level of experience and therefore the fees are difficult to determine before instruction. In our experience, if a Barrister is required to attend a hearing on your behalf, the fee will range from £1,500 to £4,000 plus VAT per day, if a case runs over and additional days are required further fees will be incurred and will range from £750 to £2,000 plus VAT for each additional day required beyond the initial time estimate for a hearing.
VAT
Please note that VAT is also payable on certain expenses. If VAT is to be added, it will be applied at the rate which applies when the work is conducted. The Legal services we provide to you are subject to VAT. Our VAT registration number is 322 7048 26.
If you are a company, business or individual who is registered for VAT, you are responsible for any VAT on your legal costs. This is a not refundable from the person or body at fault and as such we will submit to you a VAT account payment. You will be able to recover VAT payable in your VAT return.
Costs Capping
To ensure that you remain in control of the costs, it is recommended that a cap be set by the Client at the outset of the claim. This figure will limit the amount of work your Solicitor can perform before they are required to return to you to seek further instruction as they will be unable to undertake additional work without your approval once they hit your predetermined limit. At this point you will be able to evaluate your matter and decide how you would like to proceed.
Whether or not a matter proceeds to completion, we will charge you for work done and expenses incurred unless otherwise agreed. You have the right to challenge or complain about any bill we send you and apply for an assessment of the bill under part III of the Solicitors Act 1974. We may charge interest on part or all of the any bill that is unpaid.
We shall deliver bills to you at regular intervals for work carried out during the conduct of this matter. We shall also provide you with regular updated estimates of future costs. This should enable you to budget for costs as the matter progresses. If you have any query about a bill, you should contact us straightaway.
