Fees and Commissions

We aim to provide our comprehensive service to the highest possible standards, and at a level that is competitive with our peers.

Fees and Commissions

The services provided by us are subject to our ‘Success Fee’, which is normally calculated as a direct percentage of the total asset value of a case/estate, and payable only upon successful completion of our disclosure service. This means that there are no advance charges and we will only request payment if we have been successful in delivering our service through our full Letter of Disclosure. It also means that any fee that is eventually payable will be proportionate to the case/estate, although we do sometimes require a minimum success fee level be set.

The rate of commission payable (and any minimum fee level) is agreed at the start of each engagement.

As our commission is generally proportionate to the value of the case/estate, it will almost always be the case that the client will receive the greater benefit of the assets and incomes we have helped recover, regardless of the overall case /estate value.

We do encourage our clients to consider allowing us to help them recover the unclaimed asset/estate given this can often be a time-consuming and difficult exercise for the unwary; our experience of such matters will help ensure it is dealt with as promptly and efficiently as possible.

Where we do administer the recovery of the asset(s)/estate, any incidental costs and disbursements charged by third parties will be deducted from the proceeds of the asset(s)/estate at cost (as per the Treethorpe Terms and Conditions). Where the case/estate distribution exceeds five beneficiaries we will reserve the right to apply a ‘Case Handling Fee’ in line with our published rates on a Time and Materials basis.

If An Administration Fee Is Payable, What Is It For?

For the private individual with an unclaimed asset, who we have located and made contact with at the behest of a client, and who has then agreed to proceed with their claim, dependent on the nature of the agreement with the custodian organisation, an administration fee may need to be paid.

This will normally be deducted automatically from the recovered amount paid to you, and this is to cover the normal day-to-day business costs of delivering the service in general. The administration fee payable will be shown in the service pack you’ve received, and can also be confirmed by your case manager.

For cases involving individuals who have moved abroad or passed away, a tracing fee will also apply. This is to cover the cost of carrying-out the additional research needed to solve these cases in general. If a tracing fee is payable this will also be clearly shown in your service pack, and is payable in addition to the administration fee.

Inheritance Tax

In the UK, fees paid to Treethorpe may be deductible for Inheritance Tax purposes against the total value of an estate.

Independent professional advice from a practicing accountant or tax advisor should be sought, or from HMRC.

Inheritance Tax (or its equivalent) rules vary between different countries and so this matter needs to be addressed appropriately according to the law of the country of residence. Again, we advise that the services of a professional tax advisor be sought for clarification.

VAT

As a part of UK resident trading company, Treethorpe is required to charge VAT for the services it renders. The VAT paid as a percentage directly proportional to the Success Fee, rather than the total case value.

VAT will not be charged to clients that reside outside of the UK and the EU; please find below a list of countries for which VAT does apply:

Austria
Belgium
Bulgaria
Canary Islands
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
Hungary
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Madeira and Azores
Netherlands
Poland
Portugal
Romania
Slovakia
Slovenia
Spain
Sweden

In more complex cases involving perhaps several beneficiaries resident in several different countries and tax jurisdictions, different rules may apply. If you have any questions with regard to the VAT situation with respect to your case, please contact your Case Manager in the first instance.

We do not make any charges for international money transfers to clients.

For businesses engaging our services that are not located in the European Union and are registered as such in their respective countries, VAT should not be payable and therefore a charge will not be levied. In these cases, we are required to verify the business details in order to comply with the relevant HM Revenue & Customs rules.

For enquiries, contact our Resources Manager, David Amblin on +44 (0) 20 8914 8317 or email direct d.amblin@treethorpe.com

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