West of England accountancy group MHA Monahans has become one of the first in the region to be awarded a licence to undertake non-contentious probate work.
The firm, with offices in Bath, Trowbridge, Chippenham, Melksham, Frome, Glastonbury, Swindon and Taunton has received accreditation from the Institute of Chartered Accountants in England and Wales to launch the service.
Following regulatory changes in 2014, accountancy firms are now permitted to act in cases of non-contentious probate – an area previously only open to law firms.
MHA Monahans staff undertook extensive additional training and passed exams so that the firm could gain its licence.
The new team, led by Bath-based partner James Gare, can now work on behalf of the recently bereaved, either as an executor or by supporting 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 said: “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.
“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.”
Previously operating as Monahans, the firm rebranded as MHA Monahans last November to underscore the strengths of being part of the national invitation-only MHA network.
The firm has grown organically and through acquisitions in Bath, Wiltshire and Somerset over the past two years.
Pictured: James Gare, left, with MHA Monahans managing partner Simon Tombs
