Probate Accountant and Probate Administration

Acumon Chartered Accountants is authorised by the Institute of Chartered Accountants in England and Wales (ICAEW) to undertake probate and estate administration. Our probate accounting services combine legal administration expertise with sophisticated tax planning capabilities, enabling executors and beneficiaries to minimise both probate costs and tax liabilities while ensuring full compliance with regulatory requirements.

Reducing Probate Costs: Fixed-Fee Transparency

Many executors are surprised by the scale of probate-related costs, particularly when engaging traditional solicitors who typically charge percentage-based fees. Acumon offers a transparent, fixed-fee probate service that provides significant cost savings, particularly for larger estates.

Our typical probate fees range from £1,995 to £4,995, depending on estate complexity and value. In contrast, many solicitors typically charge approximately 2% of the estate value. For an estate valued at £300,000, this would result in solicitor fees of approximately £6,000, compared to our fixed-fee structure which could save over £3,000. The larger the estate, the more substantial the potential savings become.

Minimising Probate-Related Tax Liabilities

Beyond cost reduction, our probate service delivers substantial tax savings through integrated tax planning expertise. Even when presented with an existing will, our team can identify opportunities to minimise a wide range of taxes that may arise during probate administration.

Our tax planning capabilities extend across multiple tax regimes, including:

• Inheritance Tax (IHT): Strategic planning to utilise nil rate bands, residence nil rate bands, and reliefs such as business property relief and agricultural property relief. We assess opportunities for potentially exempt transfers, annual exemptions, and small gifts exemptions that may have been overlooked.
• CGT Planning: Optimising the use of annual exemptions, principal private residence relief, and timing of asset disposals to minimise CGT liabilities during estate administration.
• Income Tax: Managing income tax obligations for estates during administration, including tax-efficient distribution strategies and beneficiary tax planning.

We ensure all tax returns and submissions to HMRC are prepared accurately and submitted on time, reducing compliance risks and potential penalties. Our tax professionals, many of whom have previously worked for HMRC, understand the nuances of tax legislation and can effectively represent your interests in dealings with HMRC.

Trust Fund Creation and Management

For estates requiring ongoing wealth preservation and tax-efficient structures, we can create and manage trust funds to secure wealth for future generations. Our trust services include:

• Establishment of discretionary trusts, interest in possession trusts, and bare trusts
• Trust administration and compliance with HMRC reporting requirements
• Trust tax planning and optimisation of trust tax rates
• Integration with estate planning strategies for multi-generational wealth transfer

ICAEW Authorisation and Regulatory Compliance

Acumon is licensed by the Institute of Chartered Accountants in England and Wales to carry out the reserved legal activity of non-contentious probate in England and Wales. This authorisation ensures that our probate services meet the highest professional standards and regulatory requirements.

Our probate protection policies are clearly set out, providing clients with transparency regarding their rights and our obligations. We maintain professional indemnity insurance and adhere to ICAEW's ethical and professional standards, providing executors and beneficiaries with confidence in our probate administration services.

Comprehensive Probate Administration Services

Our probate service encompasses the full range of estate administration activities, including:

• Probate Application: Preparation and submission of probate applications to the Probate Registry, including completion of inheritance tax forms and gathering required documentation
• Asset Valuation: Comprehensive valuation of estate assets, including property, investments, business interests, and personal possessions, ensuring accurate inheritance tax calculations
• Debt Settlement: Identification and settlement of estate liabilities, including outstanding debts, mortgages, and other obligations
• Asset Distribution: Tax-efficient distribution of estate assets to beneficiaries in accordance with the will or intestacy rules
• Tax Compliance: Preparation and submission of all required tax returns, including inheritance tax returns, estate income tax returns, and capital gains tax returns
• Beneficiary Communication: Clear, regular communication with beneficiaries regarding estate administration progress and distributions
• Final Estate Accounts: Preparation of detailed estate accounts for beneficiaries and submission to HMRC where required

Integrated Expertise: Tax, Accounts, and Audit

As a full-service firm of Chartered Accountants, Acumon brings integrated expertise across tax planning, accounting, and audit to probate administration. This integrated approach enables us to identify tax-saving opportunities that may be missed by firms operating in silos.

Our team of 90+ UK-based professionals includes tax specialists who have previously worked for HMRC, providing deep insights into tax legislation and effective strategies for working with HMRC on your behalf. This experience, combined with our accounting and audit expertise, ensures that probate administration is conducted with maximum tax efficiency and regulatory compliance.

Probate Execution Case Study

Why Choose Acumon for Probate Administration

Probate Administration Process

Our probate administration process is structured to provide clarity, efficiency, and maximum tax efficiency:

1. Initial Consultation: Comprehensive review of the estate, will (if applicable), and identification of key tax planning opportunities
2. Probate Application: Preparation and submission of probate application, including completion of inheritance tax forms and gathering required documentation
3. Asset Valuation: Professional valuation of all estate assets, ensuring accurate inheritance tax calculations and maximising available reliefs
4. Tax Planning: Development and implementation of tax-efficient strategies to minimise inheritance tax, capital gains tax, and other liabilities
5. Debt Settlement: Identification and settlement of all estate liabilities
6. Asset Distribution: Tax-efficient distribution of assets to beneficiaries in accordance with the will or intestacy rules
7. Tax Compliance: Preparation and submission of all required tax returns and ongoing compliance
8. Final Accounts: Preparation of detailed estate accounts and completion of probate administration