Simplifying Scotlands New Registration Fees: What You Need to Know

The Scottish Government is making some important changes with the introduction of the Registers of Scotland (Fees and Plain Copies) Miscellaneous Amendments Order 2025. Here's a straightforward breakdown of what this means for you and how it affects moveable transactions in Scotland.

New Registers, New Fees

The Moveable Transactions (Scotland) Act 2023 has paved the way for two new registers: the Register of Assignations (RoA) and the Register of Statutory Pledges (RSP). These registers are designed to make dealing with moveable transactions in Scotland simpler and more efficient. The Keeper of the Registers of Scotland will manage these registers, and this new order sets out the fees associated with using them.

Fee Structure

To get things rolling, fees will be charged for various actions, such as registering documents, making corrections, searching the registers, and obtaining extracts. Initially, consultation feedback suggested that the proposed fees were too high. As a result, the fees have been adjusted to be more affordable, with a standard registration fee now set at £30. Additionally, there's a "reduced fee for multiples" model for the RSP, where each additional registration beyond the first in a document costs just £5.

Consultation and Feedback

The Scottish Government sought input from the public and key stakeholders, including legal firms and finance experts. While the initial reaction was critical of the high fees, further engagement helped refine the fee structure, leading to a more practical and cost-effective solution.

Compatibility and Compliance

The new order is compatible with the United Nations Convention on the Rights of the Child and aligns with existing Scottish legislation. It doesn't impact Scotland's policy of aligning with EU laws, as it focuses solely on domestic registration issues.

No Major Financial Surprises

A Business and Regulatory Impact Assessment (BRIA) was previously conducted when the Moveable Transactions Bill was introduced. The current changes fit within the financial expectations set by that assessment, meaning no further BRIA was needed.

In summary, these changes aim to streamline moveable transactions in Scotland, making them more accessible and affordable. The adjusted fees should encourage wider use of the new registers, benefiting businesses and individuals alike. Keep an eye on the official Registers of Scotland website for more details and updates.