Probate
Sensitive probate support delivered with patience and technical care.
Specialist Services
Patient, careful support through a difficult process
Sensitive probate support delivered with patience and technical care.
Estate administration involves valuations, tax calculations, creditor management and asset distribution, often at a difficult time for families. We handle the financial and accounting elements carefully, helping executors keep the estate moving forward.
- Estate asset valuation and inheritance tax calculation for probate.
- Income and capital gains tax returns for the period of administration.
- Estate accounts prepared for executors and beneficiaries.
Our approach
How we deliver probate
Estate inventory and tax exposure review
We work with the executors to identify and value the estate assets property, investments, business interests, pensions, gifts and debts and calculate the inheritance tax position to confirm whether tax is due.
IHT return, income and gains compliance
We prepare the IHT400 or IHT205 for HMRC, manage any income tax or capital gains tax obligations that arise during the administration period and liaise with HMRC on the estate's behalf throughout.
Estate accounts and distribution support
We prepare the estate accounts showing assets collected, liabilities settled, income received and the distribution to beneficiaries, giving executors a clear and documented record of the full administration.
Who this is for
Businesses and individuals that need
01
Executors managing an estate with financial complexity
Where the estate includes business interests, investment portfolios, rental property or assets with tax implications that go beyond a straightforward property and savings estate.
02
Families where the deceased was a business owner
Where Business Property Relief, agricultural property or company shares are part of the estate and the tax position needs careful analysis before the probate application is submitted.
03
Executors facing HMRC or tax compliance questions
Where HMRC has opened a compliance check on the estate's tax return or IHT return and professional representation is needed to resolve it.
Client feedback
“The tax position on the estate was more complex than we had realised. Having a team who understood both the tax and the process made an already difficult time much more manageable.”
Client review Executor, Hampshire
Common questions
Frequently asked questions
What financial work is required during probate?
The financial work in probate involves valuing the estate assets at the date of death, calculating and reporting inheritance tax to HMRC, managing any income tax and capital gains tax arising during the administration period, preparing estate accounts and supporting the distribution of assets to beneficiaries. We handle all of this on behalf of executors.
Is inheritance tax always payable on an estate?
No. Estates below the nil rate band £325,000 per person, with an additional Residence Nil Rate Band of up to £175,000 where a main home passes to direct descendants pay no IHT. Married couples can transfer the unused nil rate band, potentially sheltering up to £1 million. Reliefs such as BPR and APR can further reduce or eliminate the liability.
How long does the financial administration of an estate take?
Simple estates can be administered within six to twelve months. Complex estates those with business interests, disputed valuations, HMRC compliance checks or multiple beneficiaries can take two to three years. We manage the financial elements throughout and keep executors informed at each stage.
Is income tax payable on an estate?
Yes. Income that arises during the administration period rental income, bank interest, dividends is taxable as estate income and must be reported to HMRC. We prepare the estate's income tax returns for each tax year of administration and ensure that any tax due is paid correctly.
Ready to take the next step?
Book an introductory meeting to discuss your specialist services needs with a specialist.