VAT, currently 20%, will be payable on all our fees and some disbursements, and we will clearly confirm which disbursements carry VAT in our quote generator and formal quotation or as we advise you to incur them.
The provision of this outline is for guidance purposes only. Our ability to act for you will be subject to our requirements as to terms and conditions, identification and any related requirements being satisfied.
In order to give you a better indication of costs for administering the estate, please complete a Probate Questionnaire and contact us to arrange a meeting.
Our fees will be charged on the basis of the time spent on the matter .There will be no additional charge based on a percentage value of the estate. The current applicable hourly rates for our dedicated and experienced team as follows:
Fiona Leeson (Head of Department) £375 plus VAT (£450 inc VAT)
Andrew Neal £375 plus VAT (£450 inc VAT)
Alan Cowgill £375 plus VAT (£450 inc VAT)
Fiona Fox £375 plus VAT (£450 inc VAT)
Selena Coleridge £295 plus VAT (£354 inc VAT)
Emma Dean £295 plus VAT (£354 inc VAT)
Daisy Eshelby £295 plus VAT (£354 inc VAT)
Josh Rowlands £295 plus VAT (£354 inc VAT)
The exact cost will depend on the individual circumstances of the matter and how much or little you require by way of our involvement.
Case Study
- Second death of married couple.
- Family home worth £900,000.
- Other assets (including investments and savings) of £600,000.
- Valid Will leaving various cash legacies to charity and individuals with residue to 3 children equally.
- Lifetime gifts in last 7 years of £200,000.
- There are no disputes between beneficiaries nor any claims made against the estate.
What we will do:
STEP 1 – Apply for the Grant of Probate
- Ascertain the size and nature of the estate.
- Prepare an Estate Summary, Inheritance Tax (IHT) calculation and Estate Projection.
- Complete the IHT400 and supplementary pages (as appropriate).
- Draft the Legal Statement.
- Advise on the funding of IHT on the application for Probate.
- Conduct all correspondence with H M Revenue & Customs (HMRC) relevant to completing the Grant application.
- Submit the application for Probate.
We anticipate that this will take between 15 and 25 hours work at £300 plus VAT (£360 inc VAT) per hour. Total costs estimated at £4,500 to £7,500 plus VAT (total costs estimated at £5,400 to £9,000 inc VAT).
Disbursements included in this matter payable to third parties in respect of Step 1:
- Probate application fee of £273 plus £1.50 for every additional Court sealed copy of the Grant.
- Land Registry search fee of £3 for a copy of the property title register.
- Bankruptcy only Land Charges Department searches (£2 per beneficiary).
- Statutory notices in the London Gazette and local newspaper to protect the executors against unexpected claims from unknown creditors (estimated at £250 plus VAT).
- Anti-money laundering online identity checks (£4.50/£5.00 plus VAT per executor – £5.40/£6.00 inc VAT)).
How long will this take?
It can take anywhere between 3 to 12 months to obtain Grant of Probate for an estate of this nature. The Grant is usually issued within 14-28 weeks of submission of the IHT400 to HMRC provided there are no issues raised by HMRC or the Probate Service.
STEP 2 – Obtain Probate and administer the estate in accordance with the Will
- Call in the assets where required.
- Advise on settling the deceased’s tax affairs to the date of death and liaising with the deceased’s Accountant (this may include calculating any income tax and/or capital gains tax owed, reporting to HMRC, settling any tax liability, and requesting confirmation that HMRC’s file are closed).
- Take any corrective action required by HMRC during the estate administration process.
- Claim any relevant tax reliefs or exemptions applicable to the estate.
- Ensure payment of any outstanding tax from the estate.
- Arrange payment of the legacies given in the Will.
- Prepare and reconcile Administration Accounts.
- Make distributions to the beneficiaries.
- Deal with miscellaneous matters.
- Obtain final clearance from HMRC on both the IHT front and for the administration period.
- Account to the beneficiaries on completion of the administration of the estate (to include tax deduction certificates where necessary).
We anticipate this will take between 15 to 40 hours work at £300 plus VAT per hour (£360 inc VAT).Total costs estimated at £4,500 to £12,000 plus VAT (a total cost of £5,400 to £14,400 inc VAT).
Potential additional costs and disbursements in respect of Step 2:
- Registrar/stockbrokers administration fee, indemnity charges and commission for dealing with the sale or transfer of investments.
- Dealing with the sale or transfer of any property in the estate (including conveyancing costs and Land Registry fees).
How long will this take?
On average, estates that fall within this range are dealt with within 12 – 24 months, but this may be longer depending on dealings with HMRC and the property market if selling estate property.
This page was last updated May 2024