Pricing

The other likely third party expenses are:

H.M. LAND REGISTRY FEES (applicable to a Purchase)

Scale 1 Purchases (based upon Electronic Registration)

Stamp Duty Land Tax will be charged based upon the purchase price and your circumstances.

SDLT for residential property is charged at different rates depending on the portion of the purchase price that falls within each rate band.

SDLT Rates and Thresholds

Stamp Duty Land Tax and First Time Buyers

First time buyers purchasing their first home for £425,000 or less will pay no SDLT. Where the purchase price is over £425,000 but does not exceed £625,000 they will pay 5% on the amount above £425,000

This relief applies under certain circumstances. We will need to find out more about once we are instructed to ascertain if the relief applies

Buying an Additional Residential Property

From 1 April 2016 the rates for Stamp Duty Land Tax (SDLT) will be higher if you buy an additional residential property for £40,000 or more in England, Wales and Northern Ireland.

You will also pay the higher rate if you buy a residential property in England, Wales or Northern Ireland and you already own one outside these countries.

SDLT rates for Additional Properties from 31 October 2024

Companies and Corporate Bodies

SDLT is charged at 17% on residential properties costing more than £500,000 bought by bodies such as companies and collective investment schemes. Annual Tax on Enveloped Dwellings is an annual charge on UK residential property. ATED applies if the owner of UK residential property is a non-natural person e.g company or partnership. From 1 April 2015 the ATED applies to property valued over £1 million, and from 1 April 2016, when valued at £500,000. The annual charge will vary depending on value. Should you require further guidance please raise this with us in writing.

Lenders Charges: please note that a fee will be applied in respect of work undertaken on behalf of any lender where we are appointed the sum will depend on the lender but it would be appropriate to estimate £200 plus VAT unless they are separately represented in which case we would not charge this fee.

If we find that any additional legal expenses need to be incurred after we have considered the contract, searches and title documents, we shall let you know the reason for the extra expense, the likely amount, and when we shall need payment.

An indication of the possible additional charges are listed below. These may be subject to variation and the figures stated are not fixed.

Dealing with an additional title

Please note that when a leasehold property is purchased the landlord or managing agent may charge a notice fee to update their records and a fee to register any share of membership certificates. We do not know what these fees will be at this stage but will reflect it on our statement of account prior to completion.

The other likely expenses are:

If you are selling a leasehold property a management pack or replies to form LPE1 will need to be purchased from the freeholder/managing company. We will not know this fee until we request the management pack/LPE1.

Please note that VAT will be charged on search fees. This will include any land registry searches such as land registry copy documents.

Lenders Charges: please note that a fee will be applied in respect of work undertaken on behalf of any lender where we are appointed the sum will depend on the lender but it would be appropriate to estimate £200 plus VAT. This will include work carried out to redeem any mortgage.

If we find that any additional legal expenses need to be incurred after we have considered the contract, searches and title documents, we shall let you know the reason for the extra expense, the likely amount, and when we shall need payment.

An indication of the possible additional charges are listed below. These may be subject to variation and the figures stated are not fixed.

Dealing with an additional title

The other likely third party expenses are:

H.M. LAND REGISTRY FEES (applicable to a remortgage)

Scale 2 charges / purchases for nil consideration

The other likely third party expenses are:

H.M. LAND REGISTRY FEES (applicable to a Purchase/Transfer)

Scale 1 Purchases/Transfers

Stamp Duty Land Tax will be charged based upon the transfer price and your circumstances.

SDLT for residential property is charged at different rates depending on the portion of the purchase price that falls within each rate band.

SDLT Rates and Thresholds

Stamp Duty Land Tax and First Time Buyers

First time buyers purchasing their first home for £425,000 or less will pay no SDLT. Where the purchase price is over £425,000 but does not exceed £625,000 they will pay 5% on the amount above £425,000

This relief applies under certain circumstances. We will need to find out more about once we are instructed to ascertain if the relief applies.

Buying an Additional Residential Property

Stamp Duty Land Tax (SDLT) will be higher if you buy an additional residential property for £40,000 or more in England, Wales and Northern Ireland.

You will also pay the higher rate if you buy a residential property in England, Wales or Northern Ireland and you already own one outside these countries.

SDLT rates for Additional Properties from 31 October 2024

Companies and Corporate Bodies

SDLT is charged at 17% on residential properties costing more than £500,000 bought by bodies such as companies and collective investment schemes. Annual Tax on Enveloped Dwellings is an annual charge on UK residential property. ATED applies if the owner of UK residential property is a non-natural person e.g company or partnership. From 1 April 2015 the ATED applies to property valued over £1 million, and from 1 April 2016, when valued at £500,000. The annual charge will vary depending on value. Should you require further guidance please raise this with us in writing.

Non-Complex Estates

An example of a typical (more straight forward) Probate matter is given below. This is where a valid Will exists and where:

• there is no more than one property (Conveyancing fees are charged separately);
• there is no more than 2 – 4 bank or building society accounts;
• there are no business / agricultural assets;
• there are 1-3 beneficiaries;
• there are no disputes / claims relating to the estate; and
• there is no Inheritance Tax (“IHT”) payable and generally the Personal Representatives do not need to submit a long form IHT account to HMRC.

Our fees are ordinarily calculated by reference to the time spent by a fee-earner dealing with the matter (on the basis of an hourly rate). The hourly rate applicable as at 1st January 2024 is set at £350.00 plus VAT. In straight forward matters we can offer clients a fixed fee. Very simple intestacy cases can fall in this non-complex bracket. For non-complex cases, our total fees would usually range from £3,995.00 – £9,800.00 plus VAT and disbursements (i.e. up to 28 hours’ time spent).

The exact cost will depend on the individual circumstances of the matter but this range is given for your guidance. Where a client wishes for this firm to obtain a Grant of Representation only, please contact us for a fixed fee service.

Complex Estates

For more complex estates, our fees will usually exceed 28 hours’ time spent i.e. cost estimates from £9,800.00 plus VAT . We would give the Personal Representatives a bespoke cost estimate or initial / staged cost ceilings to ensure clients are happy with fees and fully informed. Examples of what makes an estate more complex to fall in this cost bracket are detailed below (please note this is merely a guide and not an exhaustive list).

• there is IHT to pay and tax reliefs and exemptions to apply and claim (i.e. the delivery of a long form IHT Account to HMRC);
• the deceased has made chargeable lifetime gifts which affect the IHT calculations;
• there are Trusts arising in the Will or through the intestacy (Trust matters can also be costed separately);
• a larger estate exists and there is no Will i.e. a complex intestacy (this may include where beneficiaries need to be found / identified);
• there is more than one property involved (again Conveyancing fees are charged separately);
• there are multiple cash assets / investments (including shareholdings) owned by the deceased;
• the beneficiaries wish to redirect their entitlement under a Post Death Variation;
• there are business and / or agricultural assets;
• there are charity or multiple beneficiaries;
• there is a dispute / claim relating to the estate;
• advice required as to overseas / foreign assets;
• advice on more complex IHT matters and Corrective IHT Accounts; and
• advice as to digital assets.

• Probate application fee of £273.00 (plus £1.50 per Court sealed copy) (please note the Government can change these costs);
• Bankruptcy / Land Charges Department searches (£2.00 plus VAT per beneficiary);
• Electronic ID Check (£16.95 plus VAT per name of client/beneficiary);
• Will Search fee (approximately £130.00);
• Statutory Adverts – protects against unexpected claims / unknown creditors (typical cost approx. £225.00 plus VAT);
• Land Register Search Fee (£3.00 plus Vat per title); and
• Disbursements and fees related to your matter which are payable to third parties, such as court, valuation fees and bank transfer fees. We handle payment of the disbursements on your behalf to ensure a smoother process. However we will request monies on account to cover these costs.