The fees to set up a LLV depend on which category the application falls into. The fees include all Lloyd’s fees, Companies House set up fees and ad hoc start up administration expenses. For 2010 these were as follows:

- Conversion from Unlimited Liability £3,200 (inc VAT)

- New Application (Connected Member) £10,000 (inc VAT)

- New Application (Corporate Member) £30,000 (inc VAT)*

Lloyd’s have yet to determine their fees for 2011 however we do not expect these to increase significantly.

Annual Fees

Nomina Plc charges an annual fee in June each year to cover the administration provided. For 2011 the fee is calculated as follows;

- Namecos and single Member LLPs £2,750 plus VAT

- Multi Member LLPs £2,750, plus £150 per additional member, plus VAT  

*institutional type approach