Latest Probate and Estate Administration

The government’s proposed increase to probate fees – from the current £215 to a potential maximum of £20,000 – have been scrapped, as there will not be sufficient time for the regulations to pass through parliament before the snap general election. These changes were highly controversial due to the size of the increase – the…

Probate: Fees hike to go ahead. Despite an overwhelmingly negative response to its proposals, the Ministry of Justice has confirmed that it is pressing ahead with the introduction of a new scale of fees to be imposed on the executors of deceased estate. Up to now, when executors apply for probate, a flat rate fee…

We can assist in this process by assisting in assessing risk and then advising on introducing appropriate mitigation: Robust Financial Management Undertaking a voluntary or statutory audit as, both, a preventative and detective measure. Introducing appropriate financial controls, timely financial reporting procedures and other examples of best practice governance. Registering for the Companies House PROOF…

Use Lifetime Trusts to Save Inheritance Tax. With the government confirming in the last Budget that the current inheritance tax nil rate band of £325,000 will be frozen until 2018, more and more people will find the taxman taking a sizeable slice of their estate on death. Making gifts during your lifetime is one solution…

Examples of the most helpful and generous tax elections and claims include: s222(5a) TCGA 1992 (Nomination of main residence) This capital gains tax election, often referred to as ‘flipping’, enables taxpayers, who own and reside in more than one home, to inform HMRC which of these homes is their principal private residence. For those who…