All hourly rates are exclusive of VAT and disbursements.
(a) Up to £250,000.00 - £750.00 plus VAT at 20% (£150.00) = Total £900.00
(b) £250,000 - £500,000 - £850.00 plus VAT at 20% (£170.00) = Total £1,020.00
(c) Over £500,000 by agreement
(d) Up to £250,000.00 - £730.00 plus VAT at 20% (£146.00) = Total £876.00
(e) £250,000 - £500,000 - £820.00 plus VAT at 20% (£164.00) = Total £984.00
(f) Over £500,000 by agreement
Note - the above refers to freehold properties. For leasehold properties, an additional fee of £75 will be incurred. These figures are subject to there being no complications, such as problems with Title and Indemnity Insurance being needed
Other possible fees:
Stamp Duty Land Transaction Tax Form completion £50.00 plus VAT (£10.00) = Total £60.00
Local Search fees: Bristol City Council £110.00 (no VAT)
South Gloucestershire Council £127.38 (no VAT)
Conveyancing Data Services: £291.00 approximately (no VAT) for Local Searches, Water and Mining Searches outside of the Bristol area
H M Land Registry Charges Search £3.00 (no VAT)
H M Land Registry Bankruptcy Search £2.00 per purchaser (NO vat)
Telegraphic Transfer fee and Hoole and Co Admin fee £30.00 plus VAT (£6.00) = Total £36.00
H M Land Registry Fees: As at 31 January 2022
|£0 - £80,000||£45|
|£80,001 - £100,000||£95|
|£100,001 - £200,000||£230|
|£200,001 - £500,000||£330|
|£500,001 - £1,000,000||£655|
|£1,000,001 and over||£1,105|
|PROPERTY VALUE||SDLT RATE|
|up to £125,000||Zero|
|The next £125,000 (the portion from £125,001 to £250,000)||2%|
|The next £675,000 (the portion from £250,001 to £925,000)||5%|
|The next £575,000 (the portion from £925,001 to (£1.5 million)||10%|
|The remaining amount (the portion above £1.5 million)||12%|
Probate Prices and Timescales:
We understand that dealing with a bereavement can be a very emotional and difficult time. We can help you every step of the way and can provide an efficient and caring service.
Our prices for dealing with probate matters are based on an hourly rate of £170 plus VAT, as opposed to a percentage of the value of the assets in the estate. An estimate of costs can be provided at our initial meeting.
Our fees range from £450 plus VAT plus disbursements and £5,000 plus VAT and disbursements, depending upon the complexity of the estate and the service you require. For example, if you are able to provide us with date of death balances of all assets and liabilities and instruct us to obtain the Grant of Probate only, our fee is £450 plus VAT.
If we are instructed in the administration of a straightforward estate comprising of the following:-
- One property
- No more than five bank or building society accounts
- No inheritance tax payable and no need to submit a full account to HMRC
- Five beneficiaries or less
- No dispute, and no disputes likely to arise, and are no claims against the estate
We anticipate our fees to be based on approximately 10 - 20 hours of work amounting to £1,600 -£3,200 plus VAT @20%.
We estimate information gathering to apply for the Grant of Probate to take between 4-6 weeks. Obtaining the Grant takes approximately 2-3 months and the average timescale thereafter to administer the estate takes approximately 6-10 months. We like to meet with our clients at the outset to give a more accurate timescale and idea of the costs involved.
Disbursements - (that do not attract VAT)
Court Fees to obtain the Grant of Probate are currently £155 plus £1.50 for additional copies.
Bankruptcy searches - £2 per beneficiary
Trustee Act Notice in the London Gazette and local paper - £100-£300
An average timescale for a straightforward estate is between 5-12 months but depends upon various factors such as the extent of the assets held in the estate, if there is a property to sell, whether inheritance tax is payable, the number of beneficiaries etc.
Please contact us for more information.