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News – 10.04.24
Form PF: Are you up to speed with the latest developments?
Through this insight we will bring to your attention the main changes in a bitesize manner so that you can stay abreast of the requirements as they may apply to your firm. … Read more
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Tax relief on heritage assets: Am I eligible?
For assets considered to be of national heritage, relief from Capital Gains Tax and Inheritance Tax is available. … Read more
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Governance code updates and advice for Further Education colleges from Buzzacott and the ESFA
Join Buzzacott and the ESFA for a governance update for further education colleges … Read more
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130 Wood Street, London, EC2V 6DL
enquiries@buzzacott.co.uk T +44 (0)20 7556 1200
If the Personal Representative (PR) makes the application for probate (either the Grant of Probate or Letters of Administration), the Probate Office charge a fee of £273 if the value of the estate is over £5,000. The Probate Office do not charge a fee to make the application if the value of the estates is £5,000 or less.
Extra copies of the Grant of Probate or Letters of Administration can be requested at the same time as making the application for £1.50 each. Additional copies are useful as it means you can send them to different organisations at the same time. The Probate Office charge significantly less for each extra copy of the Grant of Probate or Letters of Administration if ordered at the same time as making the application than they charge if ordered later.
If probate has already been granted, it costs £20 to make a second application. It is necessary to pay this fee even if the value of the estate is £5,000 or less.
Unlike banks, probate solicitors and probate practitioners, we charge our usual hourly rates for time spent, rather than fees based on the value of the estate (typically 2-5%) , which is a more cost-effective option as you’re only charged for the level of advice you require. Our charge out rates per hour depend on the member of staff providing the services.
We understand that you may prefer to know what fees are involved at the outset. The different steps of the process will take a different length of time depending on the circumstances of each case. Once you've decided what support you require and have the estate information, we can estimate fixed fees and provide a breakdown tailored to you. However, fixed fees could end up being more than if fees are chargeable on a time spent basis, because an element of a fixed fee is a reserve for contingencies.
We reserve the right to revise the fixed estimates where the original information is inaccurate, the circumstances change or complications arise during the process that significantly increase the amount of the work required. If any issues are identified, that are likely to significantly affect the fees, we notify the PRs at the earliest opportunity and a revised fixed estimate will be provided before undertaking additional work. So, if a PR wants certainty, it may be worth considering having a fixed fee estimate with the possibility of paying a premium.
In the unlikely event that we do not meet the Institute of Chartered Accountants of England and Wales (ICAEW) requirements when providing you with our probate services, you may be able to seek a grant from the Compensation Scheme. Generally, applications for a grant must be made to ICAEW within 12 months or the time you become aware, or reasonably ought to have been aware of the loss. Further information about the scheme and the circumstances in which grants may be made is available on ICAEW’s website.
The Equalities and Human Rights Commission states it is important that we do not breach workers’ or applicants’ confidentiality or reveal anything which might enable someone to work out information about another person that was provided in confidence. Buzzacott Probate Services Limited has made the decision not to publish results of a diversity survey as the small data set means individual partners or staff members may be identifiable.
Buzzacott Probate Services Limited which is owned by Buzzacott LLP is an inclusive organisation and we welcome everyone through the door. We provide equal employment opportunities to enable all of our employees to realise their potential. Buzzacott LLP aims to create a diverse workforce which is representative of all sections of society and our clients. We are committed to creating a work environment free of harassment, bullying, victimisation and unlawful discrimination, by promoting all principles of dignity, equality, diversity and fairness for all.
Click here for more information on Buzzacott LLP's diversity and inclusion.
Click here for Buzzacott LLP's latest ICAEW Diversity Report.
If you would like to talk to us about how we can improve our service to you, or if you are unhappy with the service you are receiving, please let us know by contacting Gregory Wheatley, Head of Legal Practice.
We will carefully consider any complaint that you may make about our probate or estate administration work as soon as we receive it and will do all we can to resolve the issue. We will acknowledge your letter within five business days of its receipt and endeavour to deal with it within eight weeks. Any compliant should be submitted to us by letter. If we do not deal with it within this timescale or you are unhappy with our response you may of course take the matter up with our professional body the Institute of Chartered Accountants in England and Wales (ICAEW) and the Legal Ombudsman.
The Legal Ombudsman’s ability to deal with your complaint is dependent on the following factors:
The contact details for the Legal Ombudsman are:
Legal Ombudsman, PO Box 6806, Wolverhampton WV1 9WJ
E enquiries@legalombudsman.org.uk
Further information about the process is available on ICAEW’s website.
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