FOS increases fees for the first time in two years

As of today (1 April), the compulsory levy will be £86m. Respondent firms will be charged £680 per case, and professional representatives will be charged £80 for cases they refer which are found in favour of the consumer they represent. For cases which are found in favour of the firm, professional representatives will pay £260 and the firm's case fee will reduce to £500. These charges are unchanged from those proposed in the plans and budget consultation where the proposals for the fee increase were announced, the FOS set out. The FOS claimed that an increase was needed as it responds...