UK transaction-services firms quote per engagement. There are no published rate cards. The ranges below reflect ICAEW Corporate Finance Faculty market practice for sub-£20m EV deals; scale upwards for larger deals, regulated sectors and multi-jurisdiction tax structuring.
Direct answer
Total UK M&A due diligence on a sub-£20m EV deal typically runs £60-180k of adviser fees: legal £15-50k, financial DD £20-60k, tax DD £10-40k, optional commercial DD £25-100k and optional IT / cyber DD £10-40k. Big Four scope adds 1.5-2.5x at comparable mandate. W&I insurance, where used, is priced separately by the underwriter at 0.7-1.5% of cover.
By workstream
| Workstream | Low | High | Basis |
|---|---|---|---|
| Legal due diligence | £15,000 | £50,000 | Lead transaction solicitor + property + employment seats. |
| Financial DD (FDD) | £20,000 | £60,000 | Tier-2 firm, scoped to QoE, working capital and net debt. |
| Tax DD | £10,000 | £40,000 | CT, VAT, PAYE, ERS and tax-deed review. |
| Commercial DD | £25,000 | £100,000 | Specialist boutique; in-house if the buyer has CDD capacity. |
| IT and cyber DD | £10,000 | £40,000 | Application inventory, cyber posture, pen-test review. |
| Environmental (Phase I) | £5,000 | £25,000 | Phase I ESA on each operational site. Phase II extra. |
| W&I premium (optional) | £30,000 | £90,000 | 0.7-1.5% of cover; underwriter-set, not adviser fee. |
Estimator
Workstream fee estimator
| Workstream | Low | High |
|---|---|---|
| Legal due diligence | £14,000 | £45,000 |
| Financial DD (FDD) | £18,000 | £54,000 |
| Tax DD | £9,000 | £36,000 |
| Commercial DD | £23,000 | £90,000 |
| IT and cyber DD | £9,000 | £36,000 |
| Indicative total | £73,000 | £261,000 |
Indicative only. Every UK transaction-services firm quotes per engagement. Ranges scaled from ICAEW market practice; verify with a quote.
What moves the quote
- EV size. Fees scale sub-linearly with EV: a £50m deal does not cost 5x a £10m deal but typically 1.5-2x.
- Jurisdictions. Each additional tax jurisdiction adds 20-30% to tax DD scope and 10-15% to legal.
- Regulated sector. FCA, CQC or Ofcom oversight typically adds 25-40% to legal and tax DD on top of dedicated regulatory DD.
- Vendor co-operation. A disorganised data room and slow Q&A turn doubles the FDD partner's hours.
- Carve-out vs trade sale. Carve-out FDD requires stand-alone-cost modelling, typically a 40-60% premium.
- Big Four badge. Adds 1.5-2.5x at comparable scope. Justify only where IC, lenders or LPs will discount a Tier-2 deliverable.
This page is anchored to UK primary legislation and named regulator guidance only. Not legal advice. Confirm position with your appointed adviser before signing.