IHT Loans Solve Problematic Probate
Are you having problems getting through Probate? If you cannot pay your Inheritance Tax bill you cannot get Probate. Does this sound familiar?
You may be an executor faced with an unexpected inheritance Tax bill?
We have teamed up with Tower Street Finance to offer our clients a service called an IHT Loan. It is a new product that can help executors (or personal representatives if there’s no will) with estates where there is an Inheritance Tax (IHT) liability to pay but no funds available, and it is holding up the legal process. This service is now available to our clients.
You may also be interested in an inheritance advance.
Benefits
Key Details
- No risk.
- No credit checks.
- No charge over property.
- No personal liabilty.
The Facts.
- Average bill is around £200,000 (2019/20)
- Estimated that £2bn a year is tied up in ‘locked estates’
- 25,200 Estates incurred IHT In 2019/20, rising to an expected 30,400 in 2020/21
- IHT has to be paid before you can get a Grant of Probate
Tower Street Finance Limited is a company registered in England and Wales, with company number 12132545, and is authorised by the Financial Conduct Authority, FRN: 912334.
If you took out an IHT loan of £50,000 (the total amount of credit) and the Loan and Origination Fee were repaid by a single payment out of the estate after 1 year, the total amount payable would be £60,977. This is made up of repayment of the Loan, interest of £9,977 and an origination fee of £1,000. The annual interest rate is 19.6% fixed. Representative 22.0% APR.
Transparent Clear Probate Services.
We offer clear easy to understand transparent Probate Services.
SIMPLE ESTATES
9 out of 10 clients pay this price-
This price usually applies if:
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All assets are in the UK
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Total estate value is under £650,000 (or left to surviving spouse)
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Gifts of no more than £150,000 were given in last 7 years
COMPLEX ESTATES
1 out of 10 clients pays this price-
This price usually applies if:
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There are overseas assets worth more than £100,000
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Total estate value is over £650,000 (and not left to surviving spouse)
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Gifts worth more than £150,000 were given in the last 7 years
What’s included?
Our probate fees cover everything from preparing your application to getting your grant sent out in the post. This includes:
- A phone call with a probate specialist to collect information about the estate.
- Probate and tax forms completed by our legal team.
- Collecting any documents from you if required by courier service.
- Getting everything checked by a probate solicitor.
- Submitting your probate application to the probate registry.
- Keeping you updated by phone or email or another method of your choice.
- Getting the grant sent out to you by tracked post.
- Providing you unlimited support over the phone from Monday to Friday, 7am to 11pm and weekends from 9am to 5pm.
- Probate registry fee.
- Stop unwanted mail addressed to the deceased and safeguard against identity theft.
What isn’t included?
- £2 for each extra certified copy of the grant or probate.
- Selling or distributing assets (Please see Probate Estate Administration starting at £1,399)
- Published statutory notices in the London Gazette and local newspaper to protect you from challenges to the estate (See Extra Services)
- Notify multiple companies such as, Barclays, HSBC and British Gas about the bereavement Service is £20 including VAT.
- Conveyancing: Probate Registry Changes £499 inc VAT
HMRC PROCESS
PROBATE REGISTRY
Once you are our client, you can book your probate questionnaire call for an appointment at your convenience from 7am-11pm weekdays and 9am – 5pm weekends. (Calls take approximately 15 minutes).
Following a questionnaire call, we will submit the Income-tax return and Inheritance Tax (IHT) forms to HMRC within 5 business days. Processing time at HMRC can be as low as 14 days however this is not guaranteed.
“Excellent service from start to finish”
How do we compare to solicitor fees on the high street?
On average, it costs about £2,700 to deal with someone’s estate in the UK. By using our grant only service and sorting out the estate admin yourself, you can save as much as 80% in unnecessary solicitor fees.
Here are the top three ways we help you save money:
Fixed Fee Quote
We don’t believe in charging on an hourly or percentage basis, so we always offer a fixed-fee quote upfront. This helps make sure there are no hidden costs or surprises to our clients during your probate application.
Transparent Service
Probate fees are often higher on the high street because people end up being sold full estate administration. We offer this service too, but we understand that most people just need help getting the grant.
Case Management
Our probate specialists handle everything over the phone for you and deal with all the paperwork on your behalf. This means there’s no need to travel to your local probate registry to swear an oath.
Our Team Are Ready! 7 Days A Week
Buy online
We are so transparent on prices, we now offer a new webshop where you can look through the different packages in your own time whilst relaxing at home. Avoid all the stress and hassle of going from company to company having to fill out numerous forms and then getting spammed with lots of emails and receiving numerous phone calls just to get a price. (We never spam).
Appointments
- 5th Floor 167 169 Great Portland Street Marylebone London W1W 5PF
- email@probatespecialistltd.co.uk
- 0207 965 7568
- 0844 884 8509
