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 services provided by Napthens LLP are subject to VAT at the current rate of 20%
Grant Only – all costs exclusive of VAT and disbursements
Package 1. Estate Less than £325,000
Package 2 Estate more than £325,000 – no claim for IHT relief
Package 3 Estate more than £325,000 and claim for IHT reliefs such as residential relief. This package is not available for estate requiring Agricultural or Business Property relief application
Package 4. Estate more than £325,000 and require HMRC approval for reliefs. Responding to queries from HMRC or negotiations with HMRC are not included in this package
Estate Administration– all costs exclusive of VAT and disbursements
Package 5. Estate Less than £325,000
Package 6. Estate more than £325,000 – no claim for IHT relief
Package 7. Estate more than £325,000 and claim for IHT reliefs
e.g. Agricultural Property Relief or Business Property Relief, gross value of estate less than £1.5 million £10,000
Package 8Gross value of estate over £1.5million – £15,000
Estate with gross value over £2 million
fee to be agreed.
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 an estate administration service with additional work to ensure full compliance and wider checks to ensure no assets, debts or beneficiaries are missed.
Package 9. Estate less than £325,000
£6,000 minimum fee
Package 10. Estate more then £325,000 no IHT reliefs to claim
£10,000 minimum fee
Package 11 Estate over £325,000 IHT payable and reliefs to be claimed
£12,000 minimum fee
Package 12 Estate over £1.5 million
£18,000 minimum fee
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 £273.00
Additional sealed copies of Registry documents £1.50
Probate Registry search £10.00
Certainty Will Search £95.00
Bankruptcy searches £2.00 per person
Thirdfort Identification verification £20 per person plus VAT
S27 Trustee Notice – price on application to Legal Notices range from £175-£350 exclusive of VAT
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.
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.