Competition increases in the Probate market
The Institute of Chartered Accountants in England and Wales (ICAEW) has reported to having nearly 100 accountancy firms who are now licensed to offer probate services.
The ICAEW became a new regulator of probate services on 14th August 2014. This means that the ICAEW Chartered Accountants and ABSs who are licensed by the ICAEW for this reserved legal activity can provide probate services directly to consumers.
In October 2014, Hope Shaw Ltd in Sherborne, Dorset – the first sole practitioner to be authorised for probate work by a non-legal regulatory body – received its authorisation from ICAEW.