Q1 How far back can I get prices?
We provide prices as far back as 10 June 1999
Q2 Can I make a request by phone/fax/email?
The Probate Calculator is an automated service which is only available online.
If you require a price before 10 June 1999 then you can contact our HPS service which provides Historical Daily Official List (DOL) quotations for all UK securities. (Please note that the HPS service will provide price quotations only – not the additional calculations provided by the Probate Calculator service). Please contact our helpdesk on 0207 797 3343 or visit the Historic Price Service for further information.
Q3 Can I take out a subscription to the Probate Calculator?
Yes, it is possible to buy credits for the service. The annual subscription service offers you 7 credit levels to choose from, thus enabling you to select a service level based on your valuation needs. The credits can be topped up at any time. For further information on the price of credits, and contact information, please see the price list section in the Probate Calculator section of the website.
Q4 What is the difference between the Probate Calculator and the Historic Price Service (HPS)?
The HPS product allows you to obtain DOL prices for securities from single or multiple dates. These prices can then be used to carry out calculations manually for probate estate valuation purposes. The calculations have to be manually inserted into the D7 form for the HM Revenue and Customs.
The Probate Calculator is an online service which simplifies the completion of the D7 form. It allows you to search for historical DOL prices for all UK securities and then automatically calculates the share and fund values (including interest and dividend). It is specifically designed to pre-populate the D7 form with the calculations required by the HM Revenue and Customs.
Q5 I need help filling out my D7 form. Who should I speak to?
The Probate Calculator is designed as a tool for facilitating the search for, and evaluation of portfolios required by the HM Revenue and Customs to populate the D7 form. The London Stock Exchange cannot provide guidance or advice on tax returns for probate purposes. Where guidance or advice is required, please contact the HM Revenue and Customs for whom contact details are available from www.hmrc.gov.uk.
Q6 Are there guidance notes on filling out the D7 form?
The HM Revenue and Customs provides guidance notes to filling out the D7 form on its website at www.hmrc.gov.uk. These should be read in conjunction with using the Probate Calculator.
Q7 I need help with using the application?
If you are having any problems using the application please refer to the help section provided on the site. If you still require assistance, please email products@londonstockexchange.com with your query. Please note that we cannot answer questions relating to tax returns.
Q8 Will I see the calculations used to populate the D7 form?
When the D7 form is created the workings used in the calculations are provided with the D7 report at the final stage of the report creation.
Q9 Can I change my D7 report once I have created it?
The system will always ask for a registration and/or logon before the creation of each report. This ensures that it is saved to the system and can be edited or added to at any stage of the process. You will only be charged the £10 report creation fee once per report, even if you are adding additional prices at a later stage. If you delete a stock for which you have already paid you will not receive credit.
Q10 Can I submit the D7 form directly to the HM Revenue and Customs via the Probate Calculator?
The form, along with the calculations, cannot be submitted directly to the HM Revenue and Customs via our website. The forms should be either saved to your own PC, or printed directly from the site and added to your tax returns.
Q11 How are the valuations calculated?
The application follows the guidelines as set out in the D7 guidance notes. More information on the calculations can be found in section 3.3 of the Probate Calculator Service Definition available on the website.
Q12 For which stocks/funds do you provide prices?
The Probate Calculator provides valuations for stocks, shares, debentures and other securities quoted in the Stock Exchange Daily Official List (DOL). We also provide valuations for managed funds (either high and low quotes or NAVs) using data provided by Moneymate™.
We do not provide valuations for:
- shares traded on Unlisted Securities Market (USM)
- shares traded on OFEX
- unquoted shares and securities in private limited companies
- shares held in a Business Expansion Scheme (BES)
- shares held in a Business Start-up Scheme (BSS)
We do not provide fund dividend information. You will need to check with the fund manager whether any funds were ex-dividend on the date of death and manually input the details. See the Help guide for more information on manual additions to the D7.
Q13 What do I do if the calculator says there is no price available?
If you are requesting a price before 10 June 1999 then the price will not be available via the Probate Calculator. The price can however be requested through our HPS service. (Please note that the HPS service will provide price quotations only – not the additional calculations provided by the Probate Calculator service). Please contact our helpdesk on 0207 797 3343 or visit the Historic Price Service for further information.
In rare circumstances certain illiquid stocks may not have the necessary price or dividend information to provide a valuation via the service, and cannot therefore be provided by the London Stock Exchange. The system will warn you if a price is not available and no charge will be made.
If this is the case you should speak with your broker, or contact a third party valuation service such as FT Interactive Data to obtain the required price and dividend information. Once this has been obtained it can be added manually via the application at no extra charge after the purchase stage of the process.
Q14 What system requirements do I need to use the service?
You will require the following minimum browser levels:
- PC - IE 5.0 and above
- PC - Netscape 6.0 and above
- MAC - IE 5.0 and Safari 1.0
You will also require Adobe Acrobat reader to view the reports.