The Taking Control of Goods (Fees) Regulations 2014

Overview

The Taking Control of Goods (Fees) Regulations 2014 establish a standardised fee structure for enforcement agents in England and Wales when recovering debts through the "taking control of goods" procedure. This framework aims to balance the rights of creditors to recover debts with protections for debtors against excessive fees, ensuring transparency and fairness in the enforcement process.

These Regulations delineate the fees that EAs can charge at various stages of the enforcement process:

• Compliance Stage: Initial contact with the debtor, typically involving a Notice of Enforcement.
• Enforcement Stage(s): Physical attendance at the debtor's premises to take control of goods.
• Sale or Disposal Stage: Sale of seized goods to recover the owed debt.

The fee structure includes fixed fees for each stage and, in certain cases, percentage-based fees on amounts recovered above specified thresholds. By adhering to these Regulations and aligning internal processes with recognised ISO standards, businesses can ensure lawful, ethical, and effective enforcement practices that protect the rights of all parties involved.

Benefits of compliance may include:

• Transparency: Clear fee structures enhance understanding for all parties involved.
• Fairness: Protects debtors from disproportionate charges.
• Efficiency: Encourages early settlement, reducing the need for further enforcement action.
• Consistency: Standardised procedures across different types of debts and enforcement actions.
• Legal Protection: Ensures that enforcement actions are conducted within a defined legal framework.