The fees involved in any transaction are important and we review our fees on a regular basis, considering clients’ feedback. We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction. If there is a new development during the transaction, we will discuss the change in fees with you and agree a way forward. Some of the examples of this are set out in the ‘Additional Fees’.
The estimate of our fees to cover all the work required to complete the sale or purchase of your new home, including dealing with registration at the Land Registry and dealing with the payment of Stamp Duty Land Tax (Stamp Duty) if the property is in England, or Land Transaction Tax (Land Tax) if the property is in Wales is set out below.
Property Sale/Purchase Price
£0 – £200,00
£200,001 – £500,000
£501,000 – £750,000
£750,001 – £1,000,000
£1,000,000 +
Legal Fees
£845.00 +VAT
£945.00 +VAT
£1,145 + VAT
£1,445 + VAT
0.35% + VAT
Item
Electronic money transfer fee
SDLT/Land Tax Return
Leasehold
Unregistered Title
Help to Buy Isa
Help to Buy Scheme
Transfer of Equity
Remortgage
New Build on Purchase
New Build as a Sale
Solar Panels
Septic Tank
ID & AML Checks (Thirdfort)
Source of Funds Check (Thirdfort)
Amount
£30.00 +VAT
£100.00 +VAT
£350.00 +VAT
£350.00 +VAT
£50.00 +VAT per person
£545.00 +VAT
£500.00 +VAT
£595.00 +VAT
£645.00 +VAT
£300.00 +VAT
£275.00 +VAT
£295.00 +VAT
£9.99/£14.95 +VAT per person
£9.95 +VAT
Disbursements are costs related to your matter that are payable to third parties, such as Land Registry fees. We handle the payment of the disbursements on your behalf to ensure a smoother process. These fees may be subject to change if further information relating to your property becomes available.
Item
Bankruptcy Search (per name)
Search Fees
Land Registry Priority Search
HM Land Registry Fee
Amount
£2.00
Approx £210.00
£3.00
This depends on the purchase price of your property and is typically between £20.00 – £270
This calculation is dependent on the purchase price of your property, whether or not you are a first-time buyer, and whether or not you are purchasing your prime residence.
You can calculate the amount you will need to pay by using HMRC’s website or if the property is located in Wales, by using the Welsh Revenue Authority’s website here.
We do not undertake tax advice or advise on the structural integrity of the Property.
Fixed Fee
In certain circumstances, where an Estate is not complicated and has a few easily identifiable assets, we will deal with this for a fixed fee. These are set out below, but they may not be suitable in every case. VAT is charged at the standard rate of 20% on our Professional Fees.
An estate NOT subject to Inheritance Tax – where the Gross value is below the current Inheritance Tax Nil Rate Band of £325,000 (or where a deceased was married or in a civil partnership – below £650,000)
To obtain the Grant for Estates within the following Asset ranges:
Up to 5 Assets in the Estate between £600 and £900 +VAT
Up to 10 Assets in the Estate between £900 and £1,200 +VAT
Then to administer and distribute the Estate within the following Asset ranges:
Up to 5 Assets in the Estate £900 +VAT
Up to 10 Assets in the Estate £1,500 +VAT
An estate SUBJECT to Inheritance Tax – where the Gross value is above £325,000 (or where a deceased was married or in a civil partnership – over £650,000) and a full return to the Inland Revenue is required
To obtain the Grant for Estates within the following Asset ranges:
Up to 5 Assets in the Estate between £1,500 and £2,000 +VAT
Up to 10 Assets in the Estate £2,000 and £2,500 +VAT
Then to administer and distribute the Estate within the following Asset ranges:
Up to 5 Assets in the Estate £1,500 +VAT
Up to 10 Assets in the Estate £2,000 +VAT
Some additional charges for Probate and Estate Matters that may arise in the Estate are for example:
Please note this list is not exhaustive of all the possible matters that may directly and indirectly arise as a result of obtaining a Probate and managing an Estate matter.
Disbursements
In both a non-taxable and a taxable estate there will in addition be disbursements to be paid. Disbursements are costs related to your matter that are payable to third parties, and will in all cases include commissioner’s fees and court fees.
Probate Court fees: currently £273.00 for the Grant plus £1.50 for each sealed copy requested at the time of application.
There may also be, for example:
Bankruptcy search fees: £2.00 per name where necessary for instance on an insolvent estate.
Trustee Act Notices in the London Gazette and a local newspaper: Approximately £210.00.
If the estate consists of property and/or shares there may be valuation fees and disposal or transfer fees for Company Registrars.
This is not however an exhaustive list.
Complex Estates – Hourly rate
The exact cost of dealing with any probate matter is dependent on a number of factors. For example, whether or not there is a Will, the number of beneficiaries and monetary gifts, the number and type of assets held by the deceased, whether any reliefs can be claimed and whether the estate is taxable. In particularly complex matters such as these, with multiple assets and beneficiaries, it is very difficult to give an estimate in advance of our fees, and the charges for legal services are calculated in accordance with recommendations of the Law Society by the use of a “unit charge”. Each unit is equal to six minutes of chargeable time taken by the executive, to include attendances, correspondence, dealing with documents, research and travel. At Taylor Brown we apply a single composite hourly rate whoever does your work and will take steps to ensure that quality control is maintained by senior personnel supporting junior fee earners. Our staff are encouraged to be interchangeable and to be alert to the need to cover for others when necessary, as this is the best approach to provide you with consistency, reliability and predictability of service whilst at the same time minimising overall cost to the Client. Our composite rate is currently set at £300.00 per hour +VAT.
In certain circumstances a value element charge may also be made as follows:
Plus
If there is any freehold or leasehold property comprised in the estate and this is subsequently sold then the firm’s normal conveyancing charges in connection with the sale will apply and we can give you full details of these in advance should you wish.
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