Probate

Bolton & Co have a probate license from the ICAEW which allows us to handle probate matters from start to finish or simply to assist where help is needed.

HMRC are changing the fees for probate which will result in applications generally becoming much more expensive.

With many years’ experience in dealing with more complex probate cases the move to providing a full probate service and dealing with the simpler routine aspects also was sensible after the regulatory changes in 2007 which led to the ICAEW becoming authorised in 2014.

Probate Facts

At Bolton & Co we offer a service tailored to our clients’ needs, this could not be any truer than with our probate service. We can offer one of three packages to you, the first is when you as the client apply for probate yourself and you can come to Bolton & Co for any queries you may have during the process or if you want us to go over the relevant forms with you.

The second option we offer is similar to the first in that you as the client would collect all of the relevant information and distribute the estate as the deceased would see fit. Bolton & Co would then deal with the financial matters involved, this would include but not limit itself to; the probate application, tax returns, and accounts for the estate.

The final option offered is where Bolton & Co would complete the probate process for you from start to finish, as with any service we offer these options are tailored to your individual needs.

A common misconception with probate is that the majority of the general public believe it is an area for solicitors only. However since accountants have been permitted to study and therefore practice probate, numbers have soared. Often accountants work closely with solicitors when dealing with probate as there is often work that coincides. There is roughly £81 billion dealt with in the current probate system in England and Wales each year so it is vital that the right advisor is employed, there are also a number of advantages in working with an accountant as set out in our blogs.

Auditing

We are registered auditors which is unusual for a small practice which allows us to be competitive. We tend to specialise in unusual audits such as pension schemes and Solicitors Accounts Rules audits. Additionally we take a holistic approach to auditing which can often save on the more frustrating aspects of the role.

Taxation

The key differential is that all tax queries will come through our Director Tim Bolton, who with over 30 years of professional accounting experience is both academically and practically adept in the area of tax. Individual areas of tax legislation are relatively easy to understand. However, it is essential to understand the area and provide practical advice based on the individual circumstances.

Overseas Taxation

Bolton & Co provide advice to a number of clients who are based elsewhere in the world but have connections to the UK. We are familiar with dealing with the complexities of international tax and the various Double Taxation agreements. Many of our clients also have accountants in their own countries and communication with them and the client is essential in order to arrive at the best possible solution.

Taxation Generally

We have advised clients on share restructuring, HMR&C clearances and HMR&C enquiries and are very familiar with the processes. We give advice to assist our clients pay the correct amount of tax, being the lowest amount possible. At no stage do we allow this to tip into tax schemes or a process whereby HMR&C will be able to raise a challenge without a robust defence.

Often when an individual dies, a grant of probate is required. This permits the person licensed to carry out probate work to access legal documents such as bank accounts and Wills. This allows the licensed individual to distribute the estate to its beneficiaries and to pay any inheritance tax due. Our Managing Director Tim Bolton is licensed to carry out such activities, after gaining a first in his probate exams, he is more than adept enough to carry out any probate work at a not unreasonable fee.

 

Please contact us if you need further advice, have any questions about our services, would like a free initial consultation or a fixed fee quote.

Tax Card for y/e 2020

Please use our link above to download the Government’s tax rate card.