Probate starting costs £750.00 plus VAT to complete IHT205 and Oath for Executors/Administrators (application to obtain Grant only with clients undertaking communication and administration)
Probate IHT400 costs £1,000 minimum, charges will depend upon the extent of work we are instructed to carry out i.e. letters written, phone calls made, time on matter.
How much does this service cost?
The Inheritance Tax (IHT) form required by the HMRC would depend on the individual circumstances of an estate.
Short form IHT205
This is on the basis that the estate is not taxable, a full account is not required to be submitted and you provide us with the figures required.
Breakdown of costs:
Long form IHT400
This is on the basis that you provide us with the figures required.
If a full account is required then our fixed fee for obtaining the Grant of Probate will be dependent on how complex the matter is but there will be a minimum charge:
Please contact us for an exact quote dependent on your particular circumstances
Disbursements not included:
Probate application fee of £273. plus £1.50 per copy of the grant (there is no additional VAT payable in relation to these specific disbursements).
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
As part of our fixed fee we will:
Provide you with a dedicated and experienced probate lawyer to work on your matter
Identify the legally appointed executors or administrators and beneficiaries
Identify the type of Probate application you will require
Complete the Probate Application and the relevant HMRC forms
Draft a legal statement of truth
Make the application to the Probate Court on your behalf
How long will this take?
Typically, obtaining the grant of probate takes 8-12 weeks
Standard Service – applying for the grant, collecting and distributing the assets
We anticipate this will take between 15 and 30 hours work at an average of £250 per hour. Total costs estimated at £3,500-6,000 (plus VAT at 20%).
The exact cost will depend on the individual circumstances of the matter. For example, if there is one beneficiary and no property, costs will be at the lower end of the range. If, for example, there are multiple beneficiaries, a property and multiple bank accounts, costs will be at the higher end.
We will handle the full process for you. This quote is for estates where:
There is a valid will
There is no more than one property
There are no more than 5 bank or building society accounts
There are no other intangible assets
There are 2-4 beneficiaries
There are no disputes between beneficiaries on division of assets. If disputes arise this is likely to lead to an increase in costs
There is no inheritance tax payable and the executors do not need to submit a full account to HMRC
Disbursements not included in this fee:
Probate application fee of £273
Bankruptcy-only Land Charges Department searches (For example, £2 per UK resident beneficiary)
£90 Post in The London Gazette – Protects against unexpected claims from unknown creditors, if required.
£150 Post in a Local Newspaper –Protects against unexpected claims where the estate includes land, if required.
There is no additional VAT payable in relation to these specific disbursements.
Disbursements are costs related to your matter that are payable to third parties, such as court fees. We handle the payment of the disbursements on your behalf to ensure a smoother process.
Potential additional costs
If there is no will or the estate consists of any share holdings (stocks and bonds) there is likely to be additional costs that could range significantly depending on the estate and how it is to be dealt with. We can give you a more accurate estimate once we have more information.
If any additional copies of the grant are required (1 per asset usually), they will cost £1.50 each (no VAT payable on this disbursements).
Dealing with the sale or transfer of any property in the estate is not included.
How long will this take?
On average, estates that fall within this range are dealt with within 6-12 months. Typically, obtaining the grant of probate takes 8-12 weeks.
The average cost of a tribunal would be between £4,000.00 and £5,000.00 plus VAT. The latter is based on a charging rate of £250.00 plus VAT per hour for work carried out by a senior solicitor and partner and Counsels fees for conducting a tribunal at £2,000.00 plus VAT.
Included in the latter mentioned price would be advising the client in full, preparing application for the employment tribunal, complying with the tribunals directions and instructing Counsel to conduct the final hearing. Details of the process and costs can be discussed fully with you at a free initial consultation.
Single Will £150 plus VAT (£30.00) £180.00
Mirror Will £275 plus VAT (£55.00) £330.00
Lasting Power of Attorney- Single – £500.00 plus VAT (£100.00) – £600.00
Lasting Power of Attorney- Double – £750.00 plus VAT (£150.00) – £900.00