(This note is not part of the Order)
This Order revokes, replaces and consolidates the Public Trustee (Fees) Order 1999 (S.I. 1999/855), as amended. It specifies the fees payable in respect of the duties of the public trustee. In addition to minor amendments, this Order makes the following changes of substance—
Article 16 is amended so as to provide that the administration fee is payable in full, even if the public trustee ceases to act in the estate or trust, or part of it, in the course of the year, rather than the fee being payable in twelve equal instalments which would cease to be payable if the public trustee ceased to act in any estate or trust during the year.
Article 17(4)(a) and (b) is amended so as to increase the relevant percentages of the net capital value of the estate or trust used to calculate the administration fee. In respect of the first £30,000, the relevant percentage rises from 4.65% to 5% and in respect of any excess over £30,000 up to £150,000, the relevant percentage rises from 2.7% to 3%.