In order to apply for probate, a professional valuer's report is required in respect of furniture and personal effects. Is the valuer's fee deductible for IHT purposes?
The solicitor for a client reckons form IHT205 should be completed, but I am not convinced that this estate is an excepted estate.
Income received from date of death, taxable on beneficiary on receipt ,
Does this mean that any income not distributed this year will be taxed under new regime?
Accountants who manage an estate for a client and aren't licensed to do probate work may face disciplinary action from August 1 when new guidance on probate services from the ICAEW starts.
Accountants will have more opportunity to provide probate services this year after the ICAEW relaxed its rules on who can do the work.
Kingston Smith has become the first accounting firm to be licensed by the ICAEW as an Alternative Business Structure (ABS) to carry out probate work.
A relative has died and her will appoints my mother and another lady as executrices.
The ICAEW are hoping to be in a position to accept applications from their members to undertake probate work from approximately July 2014 onwards (exact date TBC).
The ICAEW has become an approved regulator and licensing authority for the purposes of probate activities and alternative business structures (ABSs), making it the
Hi - client passed away at the start of the week and his family are a bit worried because they've been told that solicitors tend to charge a % of the estate to handle the probate.