Our Prices for Probate
Our price depends upon a number of factors including whether or not Inheritance Tax is payable; whether the Estate Summary Form or simple HMRC Account (IHT 205) can be used or whether a full Account (IHT 400) is required; whether we need to make a claim to HMRC for the main residence nil-rate band or whether we will have to apply to HMRC to transfer the nil-rate band or main residence nil-rate band from the estate of a deceased spouse.
These variables are taken into account in our pricing to ensure that we remain competitive and that our prices fairly reflect the work involved.
We are always happy to provide a bespoke fee estimate free of charge which can be requested by calling us on 01442 890111 or by emailing us at firstname.lastname@example.org. We will usually send you a simple form of questionnaire to complete and return which should give us the information we need to enable us to provide an accurate fee estimate.
Unlike some, we do not aim to be the cheapest since, in our experience, this usually results in compromises to the quality and efficiency of the service. We firmly believe that our prices represent good value for money and ensure that we are able to offer the service our clients have come to expect.
Our standard prices are set out below. Please note that all prices are exclusive of:
VAT which will be added at the prevailing rate (currently 20%)
Disbursements - i.e. payments made to others on your behalf. These will vary according to the nature of the estate and we will provide you with details of all disbursements payable and whether VAT applies to them once we have full details of the estate. However, a probate application fee of £273 (no VAT) and £1.50 (no VAT) for each official copy of the grant of administration will apply in all cases.
We reserve the right to increase our standard price if the matter becomes unusually time-consuming or complex or, of course, if the nature of our instructions changes - e.g. if you ask us to carry out additional work.
Key Stages and Timescale
The first stage is to identify and quantify all the assets and liabilities of the estate which will then enable us to prepare the probate application and calculate whether any Inheritance Tax is payable.
Once any Inheritance Tax due has been paid and we have received the necessary form of receipt from HMRC, we will then be able to submit the probate application to the court. We will send the grant of probate to you as soon as we receive it.
Unfortunately, it is not possible to give an accurate indication of the likely timescale for obtaining the grant of probate as this varies enormously from one estate to another. Most delays arise from the time it takes to obtain probate valuations of the estate assets as some institutions such as banks and investment houses can take many weeks if not months to respond. Equally, the Courts can be extremely slow in processing the application and, sadly, delays in the court of between 6-12 months are not uncommon. Typically, therefore, it will take between 6-12 months to obtain a grant of probate in a straightforward case.
Who will deal with the matter?
Kathryn Mould will deal with the atter for you. Kathryn is a solicitor who qualified in 2002 and her profile can be viewed on the Our Team page.
STANDARD FEES (exclusive of VAT)
• £1,250 for obtaining a grant of probate where no Inheritance Tax is payable and the simple form of HMRC Account (IHT 205) or Estate Summary Form can be used.
• £2,950 for obtaining a grant of probate where either Inheritance Tax is payable or for any other reason the full form of HMRC Account (IHT 400) has to be used
These fees include all work required to obtain the grant of representation to include:
Once the values of the assets and liabilities of the estate have been received from you, calculating any Inheritance Tax payable; preparing the Inheritance Tax form and the application for the Grant
Submitting the Inheritance Tax form to HMRC and arranging payment of Inheritance Tax due from the assets of the estate
Once the IHT receipt is received from HMRC, submitting the application to the Probate Registry
Sending you the Grant of Probate once received
Incidental correspondence with you, HMRC and the court as necessary
Our standard fees do not include meetings with you which will be charged on a time basis at an hourly rate applicable to the person dealing with your matter - please see the hourly rate section of our Terms and Conditions of Business for further details
• £475 for applying for the deceased’s main residence nil-rate band.
• £475 for applying to transfer the nil-rate band from the estate of a deceased spouse.
• £475 for applying to transfer the main residence nil-rate band from the estate of a deceased spouse.
• Further work such as realising the estate assets (closing bank accounts; selling shares etc) or settling debts and accounting to beneficiaries once the administration is complete will be charged according to the amount of time spent at an hourly rate depending on the status of the person dealing with the matter – the relevant hourly rates will be provided to you together with a fee estimate in the event that you ask us to carry out any additional work after the grant of representation is obtained. As each estate differs from another (for example the number of bank accounts; the number of individual shareholdings etc), it is not possible to provide for a standard fixed fee.