What does probate cost?

We provide a variety of services on a fixed fee basis in order to provide as much flexibility as possible.  In dealing with an Estate there are four options, the details of each are set out below so that you can see exactly what each involves and what the cost of each is.

All prices are exclusive of VAT unless otherwise stated, VAT is currently 20%

Grant Only – all costs exclusive of VAT and disbursements

 

Package 1 For estates where the estate value is less than £325,000, all financial information has been obtained and Napthens to draft the papers and obtain the Grant £900

 

Package 2 For estates which exceed £325,000 but no report to HMRC is required due to the transfer of relief from another estate. All financial information has been obtained and Napthens to draft the papers and obtain the Grant                                                                                        £1200

 

Estate Administration– all costs exclusive of VAT and disbursements

Package 3. Application to the Registry with no requirement to file papers with HMRC £3,000
Package 4. Papers to be filed with HMRC before application to the Registry but no claim for IHT relief £5,000
Package 5. Papers to be filed with HMRC before application to the Registry including claim for IHT relief £7,000

 

Napthens Executor’s Service– all costs exclusive of VAT and disbursements

 

Clients frequently request that a solicitor is the Executor. A senior partner of Napthens LLP shall be the proving executor or administrator. This is a full administration service with additional work to ensure full compliance and wider checks to ensure no assets, debts or beneficiaries are missed.

 

Package 6. Estate less than £325,000 with no report to HMRC and no residential, agricultural, foreign or business property
£5,000 minimum fee

 

Package 7. Estate less than £325,000 and includes property
£6,000

 

Package 8. Estate requiring report to HMRC before application to the Registry but no claim for IHT relief                                                                                           £7,000

 

Package 9.  Estate requiring report to HMRC before application to the Registry with claim for IHT relief            £10,000

 

Package 10. A complete package when there are no family or lay persons to assist and Napthens required to register the death, arrange funeral and attend  to all aspects of the estate                             £12,000

 

Additional Services which can be added to any of the above packages

  • S27 Trustee Act Notice   £100
  • Drafting R185                  £250
  • Completing HMRC 217 to transfer unused NRB relief                                  £500
  • DWP claims – providing inventory of assets & liabilities                                £200
  • DWP Claim obtaining historical financial information                                    £500
  • Deeds of variation                         £500
  • Deeds of Renunciation for Napthens LLP to renounce                                 £250
  • Appointment of Attorney on behalf of the Executor                                       £250
  • Debt scheme papers to accompany trust arrangements                            £1,500

 

Napthens Property Care Services

Property Simple                      £500

Property Gold                          £1000

Property Premier                    £1500

 

Property Care Services include:

Property Simple

  • Obtaining valuations
  • Notifying utility providers

Property Gold

  • Obtaining valuations
  • Notifying utility providers
  • Arranging house clearance
  • Obtaining final meter readings

Property Premier

  • Obtaining valuations
  • Notifying utility providers
  • Arranging house clearance
  • Obtaining final meter readings
  • Arranging House Insurance
  • Arranging regular property checks for compliance with house insurance for unoccupied property

Disbursements – except where detailed, disbursements do not attract VAT

Below are listed the potential disbursements in relation to applications to the Probate Registry. They do not cover disbursements in relation to transfers of land as these are set by the Land Registry and are subject to change.

Application fee to the Probate Registry          £155.00

Additional sealed copies of Registry documents       £1.50

Probate Registry search         £10.00

Certainty Will Search              £95.00

Bankruptcy searches              £2.00 per person

Credit Search                          £20 plus VAT

Financial Asset Search           £130 plus VAT

S27 Trustee Notice – price on application to Legal Notices range from £175-£350 exclusive of VAT

Additional Information

Factors which may alter any price quoted or result in a fixed fee not being applicable are (not an exhaustive list); inconsistent instructions from executors, disagreement between instructing parties, additional assets being located, multiple beneficiaries, beneficiaries residing outside the UK.

 

Timescales & Deadlines

Generally people underestimate the amount of time required to administer a person’s estate. If inheritance tax is payable papers must be filed and a first instalment of tax paid within 6 months, commencing on the fist day of the month following the death.

As a guide*:

6 weeks to ascertain all values of assets and liabilities if the identities of all of these are known

8-10 weeks for HMRC to provide authority to apply to the Registry if tax payable

10- 12 weeks for the probate registry to issue a Grant of Probate/Letters of Administration*

6-8 weeks to collect or transfer assets once papers received from the Probate Registry

8-10 weeks for the sale or transfer of shares

*Based upon turnaround times as of September 2020

Taxes

Inheritance tax – payable on estate in excess of £325,000 but additional reliefs may be available.

Capital Gains Tax – If assets increase in value during the course of the administration capital gains tax may be payable when sold or transferred by the estate. There are many options available to reduce or prevent Capital Gains Tax arising and Napthens LLP will provide advice in this if instructed to do so.

Online tax calculator

There are online tax calculators is available at https://www.gov.uk/guidance/hmrc-tools-and-calculators#inheritance-tax these calculations are not binding and require a large amount of information, Napthens LLP will be happy to provide a bespoke Inheritance Tax calculation for an agreed fee.