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Jurisdiction
England; Northern Ireland; Scotland; Wales
Enactment Citation
SI 2013/3174
Commencement date
17 March 2014
Legislation Affected
SI 2012/1969 revoked
Enabling Power
Land Registration Act 2002, ss 102, 128(1)
Abstract
SI 2013/3174: Fees are reduced for applications to and services provided by the Land Registry. In addition those applications and services which are exempt from fees are listed. The Order comes into force on 17 March 2014.
Summary
Background
As a government agency with trading fund status, the Land Registry is required to cover its costs and provide a dividend on capital HM Treasury. In general terms, this means the Land Registry should not operate a surplus or a deficit. The Land Registry’s main income is from fees.
Fees under the Fee Order 2012 are now generating fee income well in excess of the Land Registry’s requirements, reflecting an increase in market activity and continuing efficiency savings. Therefore the main policy objective is to achieve a reduction in fee income.
What’s changing?
The Order provides for a 50% reduction in the fees for applications to register transfers and charges of the whole of a registered title, and in the fees for some other registration applications, where these applications are lodged electronically.
The Order also revokes the Land Registration Fee Order 2012, SI 2012/1969.
