Our Fees
How our fee works for non-litigious claims:
Claim-Smart Limited complies with the Fee Cap rules and regulations of the Financial Conduct Authority (FCA), which protects consumers from excessive fees for non-litigious claims.
The new rules limit the fees that can be charged for non-litigious claims. These rules apply to claims where a claimant is awarded monetary compensation from a financial services firm, either directly from the firm, through the Financial Ombudsman Service, or from the Financial Services Compensation Scheme.
Under these new rules, the maximum fee that we can charge depends on how much compensation you receive. The fee is calculated as a percentage of your compensation, and it varies according to different bands of compensation amounts. The table below shows the different bands and the maximum fees that apply:
Redress Amount
Service Fee
Lower
Upper
30%
£1,499
£1
Example
Settlement
Our Fee
Vat @ 20%
Owed to Us
+£60
30% = £300
£360
£1,000
You Receive
£640
Redress Amount
Service Fee
Lower
Upper
28%
£9,999
£1,500
Example
Settlement
Our Fee
Vat @ 20%
Owed to Us
+£84
28% = £420
£504
£1,500
You Receive
£996
Redress Amount
Service Fee
Lower
Upper
25%
£24,999
£10,000
Example
Settlement
Our Fee
Vat @ 20%
Owed to Us
+£500
25% = £2,500
£3,000
£10,000
You Receive
£7,000
Redress Amount
Service Fee
Lower
Upper
20%
£49,999
£25,000
Example
Settlement
Our Fee
Vat @ 20%
Owed to Us
+£1000
20% = £5,000
£6,000
£25,000
You Receive
£19,000
Redress Amount
Service Fee
Lower
Upper
15%
N/A
£50,000
Example
Settlement
Our Fee
Vat @ 20%
Owed to Us
+£1,500
15% = £7,500
£9,000
£50,000
You Receive
£41,000
The maximum fee amount is the lower of the maximum fee percentage or the maximum fee amount for each band.
Important: The fee cap does not include VAT, which is an additional tax that you will have to pay on top of the fee shown above. The current standard rate of VAT is 20%.
For example, this means that if your compensation win is £1,000, the fee cap is 30% of £1,000, which is £300. However, this does not include VAT. Claim-Smart Limited is VAT registered so we will charge you an extra 20% of £300, which is £60, as VAT. Therefore, the total fee that you will pay to us is £360 (£300 plus £60).