How to decide to pass through costs
To ensure transparency and compliance, it's important to carefully consider the costs you may pass on to your clients. We recommend referring to the guidance provided by the Solicitors Regulation Authority (SRA) before proceeding with any fee-related matters:
Please visit the following link for detailed guidance from the SRA: https://www.sra.org.uk/solicitors/guidance/taking-money-for-your-firms-costs/
Charging for CDD reports
You are able to pass on the costs for a CDD report to your clients however, it is important that your client is aware of this charge.
You can find more information on the best method here.
Surcharging for Payment Costs
It's crucial to be aware that the Consumer Rights Regulations 2012 prohibits firms from adding any payment surcharges on top of payment fees. Clients should not be charged additional amounts for making payments. For more information regarding payment surcharges, you can refer to the official government publication at this link.
By familiarising yourself with the SRA's guidance and understanding the regulations surrounding payment charges, you can ensure compliance and maintain transparency in your fee structure.