Small Claims Limit Update01-Nov-2017
Lord Chancellor David Lidington has confirmed that the government plans to push ahead with its proposals to increase the small claims limit.
Speaking at a justice select committee meeting, Mr Lidington said that the small claims limit for RTA cases would rise to £5,000 and the limit for other PI cases would be set at £2,000. A fixed tariff of damages would also be introduced under the changes.
Details of when the reforms are to be implemented were not confirmed by Mr Lidington. However, he did state that they were in the pipeline, but that Brexit negotiations were the government’s priority.
Small Claims Limit Increase: Our View
The impact of the increase in the small claims limit (notwithstanding any further reforms) will serve to reduce costs / disbursements recoverable from insurers such that, inevitably, there will be an increase in the adoption of damages based agreements.
What is certain is that there will still be Portal cases with potentially complex loss of earnings calculations and scenarios, and this is where our team of experience forensic accountants can assist.
Special Damages Calculations - Call 0113 387 5670
At Forths, we have always tried to provide innovative solutions such as our Expert Portal and White Label Services, and we are currently in discussions with our clients around how we will support them on lower value cases when the changes come into play.
We are always open to suggestions and so if you would like to discuss any potential ideas, do please get in touch.