Taylor Brown Solicitors

Residential Sale and Purchase – Pricing Information

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’.

Our 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 plus

Legal Fees

£695.00 +VAT

£795.00 +VAT

£995.00 +VAT

By negotiation

Additional Fees

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

£75.00 +VAT

£250.00 +VAT

£350.00 +VAT

£50.00 +VAT per person

£250.00 +VAT

£350.00 +VAT

£445.00 +VAT

£645.00 +VAT

£250.00 +VAT

£175.00 +VAT

£250.00 +VAT

£14.95 +VAT per person

£9.95 +VAT

Anticipated Disbursements (on Purchase)

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

£190.00

£3.00

This depends on the purchase price of your property and is typically between £20.00 – £135.00

Stamp Duty Land Tax (SDLT)

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

Exclusions

We do not undertake tax advice.

 

Probate Costs – Pricing Information

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 £500 and £750 +VAT

Up to 10 Assets in the Estate between £750 and £1,000 +VAT

Then to administer and distribute the Estate within the following Asset ranges:

Up to 5 Assets in the Estate £750 +VAT

Up to 10 Assets in the Estate £1,000 +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:

  • Claim Unused Transferable Nil Rate Band – £250 +VAT
  • Claim Transfer or Residential Nil Rate Band – £250 +VAT
  • Claim Unused Transferable Residential Nil Rate Band – £250 +VAT
  • Shareholdings with lost/missing Share certificate (per certificate) – £150 +VAT per holding
  • Claim for & advice on Business or Agricultural Property Relief – £750 +VAT
  • Claim for Gifts out of Income – £750 +VAT
  • Lifetime Gifts or transfers of value – £750 +VAT
  • Pension: Did the deceased dispose of their pension in the 2 years prior to death – £250 +VAT
  • Life assurance policies payable to the Estate – £250 +VAT
  • Complex debts owed by the deceased – £500 +VAT per debt

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:

  • One percent (1%) of value of gross estate (less probate value of any residence)

Plus

  • One Half of a percent (1\2%) of probate value of residence. These percentage charges are known as the “value element charge”.

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.