OUR FEES
The below is an estimate for administering a non-taxable estate. Our fees are calculated on an hourly rate and an average cost for this service is provided below based on a typical case. This is an average cost only and fees can vary enormously depending on the complexity of an estate.
The price below does not include disbursements.
Average Cost: £1,600 plus VAT £320 – total – £1920 to £3,000 plus VAT £600- total £3600
Hourly Rate: £275
Estimated Hours: 7 – 12
Estimated cost of disbursements: £200 – £400
Estimated Timescale: 6 – 12 months (usually takes between 3 – 4 months to obtain the Grant of Probate)
This estimate is for a non-taxable estate where there is a valid will and there is no need to delay distributing the estate to allow for the statutory period to elapse for Family Provision or Will Rectification claims (up to ten months from the Grant of Probate). It assumes that there is one property in the Estate, up to three Bank or Building Society accounts and no other intangible assets. If the Estate is taxable and Inheritance Tax is payable, there may be an additional 15 to 25 hours of work.
What is included in the price:
We will, if you wish, handle the entire matter for you which includes:
- Ascertaining all of the assets and liabilities of the deceased and arranging valuations of these/obtaining up to date balances
- Obtaining the Grant of Probate
- Gathering the Estate’s assets
- Dealing with the tax position (Inheritance Tax and Income Tax mainly)
- Discharging the liabilities and protecting against claims
- Distributing the assets to the beneficiaries of the Estate in accordance with the terms of the Will
- Preparing detailed Accounts of the administration of the Estate
The estimate is based on a service which includes us dealing with one property as part of the Estate, three bank/building society accounts, and no other intangible assets.
If you wish to instruct UTK solely to apply for the Grant of Probate, we offer a fixed fee between £995 plus VAT of £199 – total £1194 and £1500 plus VAT £300 – total £1800 (depending on the complexity of the estate) for this service.
This includes preparing the necessary Inheritance Tax account and Probate Registry documentation on the basis that you will provide all the necessary information to allow us to do this. This estimate is for a non-taxable estate where there is a valid will. If the Estate is taxable and Inheritance Tax is payable, then we will not be able to undertake this additional work for this fixed fee.
What is not included in the price:
There may be Inheritance tax due on this matter and the cost of calculating this and accounting for it would be separate to the estimated cost. To assist you in calculating the tax due, please visit the gov.uk website:
gov.uk/inheritance-tax
Any transfer or sale of a property in the Estate would be charged separately. These fees do not apply where any assets of the estate are outside of the UK. They also do not include advising on Deeds of Variation, trusts or on claims against the estate.
The fee quoted above does not include disbursements (costs payable to a third party on your behalf). These will be charged to you based on the cost they are charged to us and include:
- Probate Application fees – currently £300 inclusive of VAT.
- Copy of Grant of Probate – £1.50 per copy inclusive of VAT
- Advert in the London Gazette to protect against unexpected claims – £84.00
- Advert in a local Newspaper to protect against unexpected claims – around £100
- Bankruptcy searches – £7.80 per person inclusive of VAT
- Valuation fees re property and household contents valuations – we will need to obtain quotes from the appropriate Professionals for these fees
- Valuation fees re share or investment valuations – we will need to obtain quotes from the appropriate Companies for these fees
- Costs incurred when selling shareholdings – we will need to obtain quotes from the appropriate Companies for these fees
- Asset Searches and Will Searches – Asset search starts from £25 (Experian) and increases for more comprehensive search. Will search £114.
- Accountancy Fees – we will need to obtain quotes from the appropriate Professionals for these fees
Fees may vary dependent on individual circumstances.