It is estimated that approximately 1.8 million Britons who have previously applied for a Lasting Power of Attorney (LPA) are now due a partial refund under a new scheme unveiled by the Office of the Public Guardian (OPG) in recent days.
Earlier this week, the OPG outlined the details of its new LPA refund scheme – which could see those who have previously been overcharged for LPA or Enduring Power of Attorney (EPA) registration fees due a refund of anywhere up to £108.
It comes after the Ministry of Justice (MoJ) confirmed that the OPG had failed to pass on a reduction in its operating costs to consumers in the form of lower fees between 1 April 2013 and 31 March 2017.
Due to this, any individuals who applied for an LPA or EPA during this period have effectively paid too much, and are therefore now entitled to a partial refund.
The cost of applications would have been £110 during the period, an amount which was reduced to £82 on 1 April 2017.
Individuals who wish to apply for a refund are advised to follow the simple steps on the GOV.UK website here.
A Lasting Power of Attorney is a crucial legal document, the importance of which is often neglected in the UK.
Up-to-date research indicates that around 44 million UK adults do not currently have an LPA, despite the fact that these documents – which can give relatives or carers authority to handle the financial affairs of a loved one who has lost mental capacity – are growing increasingly important in an age when conditions such as Alzheimer’s disease are growing more and more common all across the country.
Latest posts by Natalie Payne (see all)
- Britons urged to save on IHT by leaving charitable legacies in their Wills - April 13, 2018
- What you need to know about the Power of Attorney refund scheme - March 16, 2018
- Complex IHT rules deterring Britons from gifting, study finds - February 23, 2018