January kicks off our Probate campaign

Another year over and a new one just begun! And with it marks the start of our new Probate campaign, which gets under way this month. 

Probate is the official process of handling an estate – which includes any money, property and possession – after someone dies. 

It also hit the headlines before Christmas after the House of Lords slammed plans to increase Probate fees by up to 2,690% from April 2019. 

With these changes just around the corner, it’s more important than ever to have a specialist accountancy firm guide you through these challenging times. 

What is changing with probate?

At the time of writing, you can either apply for a grant of representation yourself or appoint us to provide Probate services that will handle it on your behalf. 

The application fee in 2018/19 is £215 on Estates worth more than £5,000, while no cost applies on Estates worth less than this amount. 

However, the current flat Probate fee looks set to be replaced by a banded scale of fees based on the value of the Estate from April 2019. 

For example, Probate fees for Estates worth more than £2 million are poised to rise to £6,000 for 2019/20. 

Value of the estate (before inheritance tax) Proposed fee
Up to £50,000 or exempt from requiring a grant of probate £0
£50,000 - £300,000 £250
£300,000 - £500,000 £750
£500,000 - £1m £2,500 
£1m - £1.6m £4,000 
£1.6m - £2m  £5,000 
Over £2m   £6,000

How will Dunkley’s handle Probate?

As an accountancy practice with family values at its core, our team offers support and expertise at an extremely challenging time. 

Mike Dunkley and Natasha Miller draw upon their many years of Probate experience to provide the best possible results for your beneficiaries quickly and efficiently. 

This includes sifting through your assets and debts to prepare the inheritance tax account, ready to handle any potential tax liabilities that may arise before distributing the Estate. 

For more information on what you can expect from our Probate service, get in touch to review your situation and see how we can assist. 

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