Swindon & Wiltshire Business News


Chartered accountants launch probate service

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James Gare with MHA Monahans managing partner Simon TombsJames Gare with MHA Monahans managing partner Simon TombsAccountancy firm MHA Monahans has launched a new specialist service and now can undertake non-contentious probate having received accreditation from the Institute of Chartered Accountants in England and Wales.

Following regulatory changes in 2014, MHA Monahans has become one of the first firms in the region to have received their licence, after completing extensive additional training in this reserved legal activity.

Several of the team have undergone the necessary training and exams to provide this new service which will be led by partner James Gare.

Working on behalf of the recently bereaved, MHA Monahans can now either act as executor or support the executors through the probate process as required.

This includes establishing the value of the estate, preparing the Grant of Probate, calculating and reporting tax liabilities to HMRC, administering the estate in a tax efficient way and preparing final estate accounts.

James explained: “Many probate matters revolve around the tax elements and so accountants, with their proven tax expertise are often best placed to make this difficult process as painless as possible.

"Accountants are also often much closer to a family due to years of working together on business and family matters, so when people need to execute a will and finalise an estate, we may well already have the background experience and knowledge needed to make the process simpler.

"Our tax consultants may also be able to advise on the most tax efficient way of distributing the assets of the estate as well. “

“MHA Monahans now has a growing team able to provide uncontentious probate services, led by myself together with Client Portfolio Managers Clare Ryall and Becky Young.

"The accreditation process rightly involved a large amount of training and a subsequent examination to ensure that practitioners fully understand the process they are involved in.

"This an exciting move that brings the legal and accountancy professions closer together and helps everyone access specialist advice and guidance in the times that they need it.”