Thy Will Be Done (Spain) Ltd potentially saves its clients over £1/4 million in Lasting Power of Attorney (LPA) registration fees
TWBD have been recommending to its clients for many years now that they exercise reservation when considering paying The Office of the Public Guardian(OPG) LPA registration fees immediately in favour (unless absolutely necessary) of waiting until the future to see if:
a) They are ever needed
b) The registration price reduces
c) They would qualify later on for reduced fees or exemption from fees altogether
The below outlines the new OPG LPA registration fees which have dropped from current level of £110 to just £82 from April 1st 2017
A draft statutory instrument to reduce the fees payable to the Office of the Public Guardian (OPG) for registering enduring powers of attorney (EPAs) and lasting powers of attorney (LPAs) was laid before Parliament and has gained approval.
The Public Guardian (Fees, etc.) (Amendment) Regulations 2017 (draft) amend the Public Guardian (Fees, etc.) Regulations 2007 (SI 2007/2051) to reduce the fee:
- For an application to register an EPA or LPA from £110 to £82.
- For a repeat application to register an LPA from £55 to £41.
The reduced fees will apply for applications made on or after 1 April 2017,
A draft explanatory note has also been published, which explains that the fees are being reduced because an increasing growth in volume of registration applications, due to an ageing population, means that the OPG is receiving more income through registration fees than the cost of the service, Therefore, this draft statutory instrument sets a lower but still enhanced fee using that power. The note goes on to explain that, to avoid significant over-recovery in the future, the fees will be reviewed annually.