Revised Fees for Lasting Powers of Attorney reduced to £82.00
From the 1st April 2017, the fees for applying to register lasting powers of attorney (LPAs) and enduring powers of attorney (EPAs) have been reduced from £110 to £82. The fee for resubmitting an LPA for registration has also been reduced from £55 to £41.
This change won’t affect the current remissions and exemptions scheme, which is available for those who can’t afford to pay the full fee.
Why has the change come into effect?
More than two million LPAs have been registered since 2007 and numbers are continuing to increase year on year. The volume of applications, together with efficiencies in the way that they’re being processed, has driven down the cost of providing the service.
The new fee of £82, which is the lowest that it’s been since LPAs were introduced back in 2007, also makes sure that the Office of the Public Guardian (OPG) can continue to deliver an accessible, modern and efficient service to all of its customers. The intention is that by cutting fees, it will encourage even more people to take out LPAs, providing peace of mind for themselves and their families.
How does this affect LPA and EPA applications?
- LPA and EPA applications that are paid for from the 1st April 2017 onwards will be charged at £82.
- For those who have recently submitted an LPA or EPA application with a payment of £110 that’s paid for after the 1st April 2017, the difference will be refunded to the individual who made the payment.
- For those who have applied for an LPA or EPA through a third party such as a solicitor or financial advisor, the solicitor or financial advisor will be notified and the payment will be returned to the person who paid the original registration fee. The money will be paid directly into that person’s bank account.
Get in touch to find out more about LPAs and EPAs
From our offices in Preston, Lancashire, we can assess your financial circumstances working with you to structure your assets efficiently and identify the most appropriate way for you to achieve your financial goals.
For specialist financial advice in later life, contact Vanessa Townshend at Springfield Financial Services on 01772 729 742 or complete our online contact form.