Research shows taxpayers are paying a high price for probate delays

Probate delays are resulting in many executors having to cash in other savings and investments to be able to pay inheritance tax (IHT) bills on time.

A recent study reported in the Financial Times found that 76% of advisors surveyed in the 2024 research were affected by probate delays over the prior two years and around 33% of the professionals participating in the research said their clients had borrowed money to pay for inheritance tax, with 27% saying that probate delays had generally made it difficult for clients to pay their IHT bills. Another 22% said that probate delays had triggered family disputes.

According to the latest government data it is currently taking around nine weeks to obtain probate; this time last year it was around 16 weeks which suggests the delays are slowly easing. In situations where the executors face issues sourcing documents, or in complex cases, it can take six months or more.

Losing a loved one is hard enough without the added stress of handling their estate and any associated problems. Probate delays can be especially challenging because of the emotional strain combined with the pressure of settling inheritance tax liabilities within six months of a death.

Simplifying the probate process

At RJP, we understand the intricacies of the IHT and probate process and are here to guide you through every step. We are licensed by the Institute of Chartered Accountants in England and Wales to carry out non-contentious probate in England and Wales. We have a detailed guide to the probate process.

When we obtain probate for clients, we work on a fixed fee basis which provides certainty at the outset and is likely to provide cost savings. This is especially true for larger estates. The probate service we provide will typically include the following:

• Contacting banks, building societies etc to determine the value of the estate assets at the date of death together with any accrued interest;
• Preparing income tax return(s) to the date of death of the deceased, to determine any income tax liabilities or refunds due;
• Calculating the estate inheritance tax position, completing all relevant inheritance tax returns and submitting them to HMRC;
• Dealing with any queries raised by HMRC;
• Arranging direct payment of the inheritance tax liability where appropriate;
• Obtaining a grant of probate.

Find out more about our probate accountant services and if you have further questions contact us via partners@rjp.co.uk.