25 November 2017

Fees and charges

How much does it cost to become a BSB entity?

There are three main fees payable by both licensed and authorised bodies:

  1. An application fee which covers the cost of processing the application;
  2. An authorisation fee which covers the cost of regulating the entity in its first year of authorisation.  It is payable by those whose application has been approved and wish to be authorised by the BSB. 
  3. An annual (renewal) fee which covers a review of the entity and the ongoing cost of supervision.  It is payable by those authorised entities who wish to retain their authorisation for a further 12 months.  The renewal process runs for all authorised entities annually in April.  The application fee is pro-rated quarterly to ensure fairness.

The fee is calculated based on the number of authorised individuals providing legal services through the entity.

Authorised body fees (correct as of 18 May 2016)

Size of Body

Application Fee

Authorisation Fee

Total Cost of Authorisation

Annual (Renewal) Fee

Single Person

260

330

590

365

2-5 Person

725

875

1,600

1,000

6-15 (Simple)*

1,000

1,200

2,200

1,450

6-15 (Complex)*

1,350

1,600

2,950

2,000

15+ Person

1,950

2,300

4,250

2,900

* The distinction between "simple" and "complex" body refers to the number of authorised individuals in the entity and the nature of the business model.  It is based on our view of the resource required to assess the application.

Licensed body fees

Size of Body

Application Fee

Authorisation Fee

Total Cost of Authorisation

Annual (Renewal) Fee

2-5 Person

1,460

1,190

2,650

1,725

6-15 Person

2,475

2,025

4,500

2,925

15+ Person

3,550

2,900

6,450

4,195

Are there any other costs?

If you wish to apply for your entity to conduct litigation there is a £90 fee payable on authorisation.

If you want to change a material aspect of your entity (such as the replacement of a HOLP, HOFA or the addition of a new owner), you must let us know.  In most cases there is likely to be a charge of £90 reflecting the cost of the resource required to assess the application. 

As part of the application process for licensed bodies, we are required to carry out additional financial and probity checks into non-authorised individuals who will have an ownership or management interest in the body.  We will require the applicant to provide us with certain information which is likely to incur a charge.  This charge will be borne by the applicant.