We establish a method for calculating the Poincaré series of moduli spaces constructed as quotients of smooth varieties by suitable non-reductive group actions; examples of such moduli spaces include moduli spaces of unstable vector or Higgs bundles on a smooth projective curve, with a Harder-Narasimhan type of length two. To do so, we first prove a result concerning the smoothness of fixed point sets for suitable non-reductive group actions on smooth varieties. This enables us to prove that quotients of smooth varieties by such non-reductive group actions, which can be constructed using Non-Reductive GIT via a sequence of blow-ups, have at worst finite quotient singularities. We conclude the paper by providing explicit formulae for the Poincaré series of these non-reductive GIT quotients.5 Various generalisations of the results of [8,9,15] exist. For example, they can be extended to the case where X is singular under certain additional assumptions (see [14,43]; note that in [43] intersection cohomology is considered instead of singular cohomology). Moreover, the Bialynicki-Birula decomposition has been extended to the actions of linearly reductive groups on schemes of finite type and on algebraic spaces -see [37]. 6 Blow-ups are required in Non-Reductive GIT when 'semistability does not coincide with stability', a condition analogous to the corresponding condition in classical GIT.