BARCLAYS WEALTH ESTATES & TRUSTS

BARCLAYS WEALTH ESTATES & TRUSTS
Schedule of fees for acting as Trustee
Barclays Bank Trust Company Limited
1. Fees for acting as trustee*
We may charge an acceptance fee on the acceptance of
trusteeship or on the acceptance of further assets into a
trust of which we are already a trustee. In each case the fee
will be commensurate with the work and responsibility
involved and negotiated on each relevant occasion. There
will be no charge for acceptance of a trust of any part of an
estate of which we have been executor or administrator, but
fees will be payable for acting as trustee from the time
when the trust is constituted by appropriation, even if the
administration of the estate is not complete.
The annual management fee is payable in advance on
commencement of the service with subsequent fees
normally falling due at the start of each year. It is
calculated on a percentage basis on the higher of the book
or market value (actual or estimated) of the gross capital
assets held in the trust at commencement or each
anniversary at a rate of 1.35% per annum subject to a
minimum fee of £750 per annum.
We have discretion in determining the book or market value
of the gross assets but will only exercise this discretion in a
reasonable manner. An adjustment may be made in respect
of any year in which substantial additions, distributions or
releases of capital are made. Normally, the fee will be
charged against capital but may be charged against income.
In appropriate cases the management and withdrawal fees
on annuity funds and settled legacies, including minors’
interests, may be commuted at our discretion and charged
against the capital of the residuary estate.
A withdrawal fee at the rate of 3.5% will be payable out of
capital on the gross amount or market value (actual or
estimated) of any capital funds or assets paid out or
*Except for the Barclays Wealth Prestige Trust and the Barclays Wealth Preservation Trust.
released from the trust, whether in the course of
administration or by way of distribution to beneficiaries or
upon us ceasing to act in the trust. A reduction to this
withdrawal fee may be considered in cases where the work
involved is straightforward or level of responsibility is
disproportionate in relation to the amount of the fee.
We may charge a transaction fee of up to 2.5% of the
purchase price whenever unit trust units or open-ended
investment company shares (UT/OEIC) are purchased by us
at creation price. The creation price for these purposes being
the price at which new units or shares are sold to us where
the price is based solely on the value of the underlying
assets of the UT/OEIC without the addition by the UT/OEIC
manager of any commission or management charges.
Where we hold investments within a unit trust or openended
investment company, we may make a ‘switching’
charge of up to 0.25% of the value of the transaction where
we sell and re-invest in other units, for example, to utilise
available Capital Gains Tax allowances. The transaction fee
referred to above will not be charged in these circumstances.
2. Valuation fees
To provide a valuation of stocks and shares for probate and
taxation purposes (including on the death of a life tenant,
termination of a trust or other change of interest) our
charges are as follows:
• 0.15% of the first £100,000
• 0.10% of the next £100,000
• 0.05% of the balance over £200,000
A charge of £5 per holding up to 12 holdings and £3 per
holding in excess of 12 holdings will also apply.
An additional charge per holding may be made if extensive
research is required.
Minimum fee – £50