OFFICE HOURS: Mon to Fri -
(Please note that we close for lunch between 12 pm to 2 pm)
(First established 1985)
T: 0161 228 6777
F: 0161 228 7774
E: info@chungandco.com
COSTS & OTHER INFORMATION
OTHER SERVICES
Explanatory Notes:
- All quoted charges and expenses are net of Value Added Tax (“VAT”)*. You must also pay VAT at the prevailing rate which is 20% and variable. VAT is an additional tax payable to the Government and is payable in most cases, except by overseas clients but only if the transaction does not involve any property in the UK. For VAT registered clients, they may be able to reclaim it from the Government.
- You will pay “Legal Costs” plus VAT for all our services, including verbal and/or written consultations, regardless of the outcome of the transaction concerned. Unless otherwise agreed in writing, we do not offer any free advice or service but in exceptional circumstances we may impose token or discounted charges only.
- You may have to pay “Disbursements” plus VAT, which are expenses related to your matter that are paid to third parties. We handle the payment of the disbursements on your behalf to ensure a smoother process, such as search fees, court fees, management company’s fees, bank charges, registration fees, Land Transaction Tax or Stamp Duty, landlord’s solicitors’ fees, mortgagee’s solicitors’ fees, bank transfer fees, bank charges, Land Registry fees, application fees, inspection fees, estate agents’ fees, surveyor’s fees, architect’s fees, accountant’s fees, insurance policy premiums, etc. There may be other disbursements required but it depends on the nature of the matter. Fees vary and we can give you an accurate figure once we have received full instructions and had full sight of your documents.
- You will also pay “General Expenses” plus VAT which are our overheads chargeable as additional profit costs, such as Postages, Telephone, Fax, Photocopying and Stationery charges (minimum £20 + VAT £4 = £24 per matter), Office Administration Charges (minimum £20 + VAT £4 = £24 per matter), Travelling expenses (at £0.95 + VAT £0.19 = £1.14 per mile), Bank transfer fees (£30 + VAT £6 = £36 per transfer) and postal delivery handling charges, e.g. DHL or Royal Mail, (minimum £10 + VAT £2 = £12 per item, if required).
- You may have to pay for our “AML Checks” plus VAT by way of additional profit costs. Under the current Anti-
Money Laundering (“AML”) legislations, all solicitors must check the sources of wealth and/or funds of their clients when payment is required, such as purchase price. We must be reasonably satisfied that your funds are legitimate or else we cannot use them. AML checks are always very time consuming, particularly for overseas funds. We must also check the identity and address of each of our clients and the money handlers. All information and/or documents supplied or obtained are for our information and record as well as all the relevant government agencies and SRA, if so required by them. It will then be up to our discretion to release or not. You are deemed to have consented to our retention and/or disclosure of your information. Our AML Checks fees start from £180 plus VAT £36 = £216 per money handler for straightforward checks.
- All quoted charges and expenses are estimates only on the assumption that the intended transaction is straightforward without any undue complication or delay. If not and we have to do more works, you may be required to pay more but we shall endeavour to agree the amount with you in advance before carrying out any further work. We cannot guarantee success, any particular outcome and/or conclusion of any work within any time scale since there are so many factors which are outside our control. However, we always endeavour to meet the reasonable expectations of our clients. We are proud to be known to be highly efficient and meticulous in our services.
- We charge for all works done, regardless of outcome. In exceptionally successful cases, we may charge a top-
up of up to 20% plus VAT of our actual legal fees as we are entitled to so do under our professional rules. - We reserve our rights in exceptional circumstances or when you act in breach of our Terms and Conditions of Business to decline instructions or cease acting without accepting any responsibility, even if you have approved our estimates or paid our legal charges and expenses in part or in full. We shall then reassess our charges and expenses incurred and seek payment of any shortfall or refund any credit balance to you.
- The hourly rate of our Mr Stephen Chung is currently £278 + VAT £55.60 = £333.60** (per Court’s guideline effective from 01.01.2024 for Grade A National 1 solicitors). There are cases where we wish to charge only on time-
spent basis. If so, we shall divide the hourly rate of £333.60 (inclusive of 20% VAT) into 10 units at £33.36 each and charge accordingly subject to a minimum charge of 5 units or £166.80, i.e. £33.36 x 5. - Principal – Mr Stephen Jin Pang Chung, LLB (Hons)
- Year of Admission – 1982
- Languages spoken – English and Chinese (Mandarin & Cantonese)
- Main law interests -
Conveyancing (Commercial & Residential*), Landlord & Tenant, Immigration & Nationality, Company & Commerce, Will & Probate, Divorce, Magistrates Court & Tribunal work, Licensing Applications, Town & Country Planning, Authentication, legalisation and translation (English/Chinese) of documents. - Hourly rate -
£278 plus VAT (per Court’s guideline effective from 01.01.2024 for Grade A National 1 solicitors).
OTHER SERVICES
1. COMMERCIAL CONVEYANCING (e.g. business, shop, warehouse & land)
- Sale (No purchase) of business only – From £500 + VAT £100 = £600 for consideration up to £100,000.
- Granting or taking a short lease of shop – From £800 + VAT £160 = £960 for weekly rent up to £250 and term up to 3 years only without security of tenure.
- Sale (No purchase) of property only -
From £900 + £180 = £1,080 for consideration up to £150,000. - Sale (No purchase) of both business and property -
From £1,400 + VAT £280 = £1,680 for total consideration up to £250,000. - Granting or taking of a lease of shop – From £1,200 + VAT £240 = £1,440 for weekly rent up to £250 and term up to 7 years with no registration by Land Registry involved.
2. COMMERCIAL LANDLORD & TENANT (e.g. shop, office and warehouse)
- Grant or taking a short lease of up to 3 years of shop with business and trade equipment and without security of tenure – From £800 + VAT £160 = £960.
- Granting or taking a short lease of up to 7 years only – From £700 + VAT £140 = £840.
- Assignment of lease (for existing or new tenant) – From £700 + VAT £140 = £840 with no registration by Land Registry involved.
- Granting or requesting a Licence to Assign (for landlord and existing tenant) – From £850 + VAT £170 = £1,020.
- Authorised Guarantee Agreement (for landlord or existing tenant) – From £450 + VAT £90 = £540.
- Rent Deposit Deed (for landlord or new tenant) -
From £450 + VAT £90 = £540. - Deed of Release or Variation (for landlord, existing or new tenant or guarantor ) – From £600 + VAT £120 + £720.
- Deed of Surrender (for landlord or existing tenant) – From £600 + VAT £120 = £720.
- Licence to alter (for landlord, existing or new tenant) – From £600 + VAT £120 = £720.
- Last Will or Codicil with explanatory letter – From £350 + VAT £70 = £420 for simple provisions with no dispute and signing taking place in our office.
- Complex Last Will or Codicil with explanatory letter – From £600 + VAT £120 = £720.
- Deed of Family Rearrangement, Deed of Renunciation, Declaration of waiver of inheritance right and Deed of Appointment – From £600 = VAT £120 = £720.
4. POWER OF ATTORNEY, DEED POLL & STATUTORY DECLARATION
For a straightforward document with signing in our office and no issue or dispute:-
- General Power of Attorney (one donor/beneficiary only) – From £180 + VAT 36 = £216.
- Lasting Power of Attorney (one donor/beneficiary only) including registration at Office of Public Guardian – From £450 +VAT £90 + £540.
- Special Power of Attorney (one donor/beneficiary only) – From £380 + VAT £76 = £456.
- Deed Poll, Statutory Declaration and Statement of Truth (by one person only) – From £250. + VAT £50 + £300.
5. LEGALISATION OF DOCUMENTS FOR USE OVERSEAS
Please note that legalisation fees are payable to Foreign, Commonwealth and Development Office (“FCDO”) in addition to our legal fees for dealing with legalisation:-
- From £140 + VAT £28 = £168 per document to be legalised plus FCDO legalisation fee currently at £45 per document.
- Arranging a document to be signed before a local Notary Public – From £50 + £10 + £60 per document plus his fees which are about £100 + VAT £20 = £120 per document.
- Providing English translation – From £100 + VAT £20 = £120 per document.
- Authentication and translation (English/Chinese) of documents – From £50 + VAT £10 = £60 per document.
- Administration of oaths -
£5 per document + £2 per exhibit. - Single status statutory declaration – From £150 + VAT £30 = £180 per document.
- Statutory Declaration for Waiver of Inheritance Rights – From £400 + VAT £80 = £480 per document.
- Deed of Family Arrangement – From £500 + VAT £100 = £600 per document.
Authorised and regulated by the Solicitors Regulation Authority
SRA ID No: 8005517
VAT Reg No: GB 431 1452 95
Design: BC 2024 (22.02.2024)
© 2018 Chung & Co Solicitors
