Small Business Owners + Probate & Estate Administration: The Challenge
As small business owner, preparing bank statements for probate & estate administration is a common but time-consuming task. Executors and solicitors handling probate need to review the deceased's bank statements to value the estate, identify debts, and distribute assets.
How BankScan AI Helps Small Business Owners with Probate & Estate Administration
Upload your bank statement PDF and get a clean spreadsheet you can use to track cash flow, reconcile invoices, or send to your accountant. For probate & estate administration specifically, BankScan AI extracts Balance at date of death, standing orders and direct debits payable, regular inc automatically.
How Small Business Owners Handle Probate & Estate Administration
When preparing bank statements for probate & estate administration, small business owners need to Small business owners typically download or receive monthly bank statements, forward them to their accountant or bookkeeper, and occasionally review t. BankScan AI automates the data extraction step.
Key terms you'll encounter: cash flow, profit and loss, VAT return, bank reconciliation.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Date of death statement plus 6-12 months prior to identify regular commitments, standing orders, and direct debits to cancel of statements for probate & estate administration.
AI extracts what you need
Our AI extracts Balance at date of death, standing orders and direct debits — formatted for small business owners workflows.
Complete your probate & estate administration work
Download Excel files ready for probate & estate administration. Date-of-death balance clearly stated, recurring payments listed separately for cancellation, all accounts of the deceased consolidated into one estate summary
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Small Business Owners — Probate & Estate Administration
- Built for Small Business Owners — Saves 1-2 hours per month on manual statement review and reconciliation, plus avoids errors that can cost hours to trace and correct
- Software compatible — Output works directly with Xero, QuickBooks, Excel
- Built for Probate & Estate Administration — Convert the deceased's bank statements to Excel for fast estate valuation, identification of standing orders, direct debits, and outstanding payments.
- Key data extracted — Balance at date of death, standing orders and direct debits payable, regular income sources, any joint account contributions, gifts made in the 7 years before death
Compliance: Small Business Owners + Probate & Estate Administration
When small business owners prepare bank statements for probate & estate administration, specific compliance requirements apply.
- UK small businesses must keep financial records for at least 6 years for HMRC purposes. VAT-registered businesses must maintain digital records under Making Tax Digital and submit quarterly returns. Companies House requires annual accounts preparation based on accurate bank records.
- Legal basis: Administration of Estates Act 1925; Inheritance Tax Act 1984 sections 4 and 171; Non-Contentious Probate Rules 1987
Probate & Estate Administration — Built for Small Business Owners
IHT400 must be submitted within 12 months of death to avoid interest charges; probate grant cannot be issued until HMRC receives the IHT forms
Try Free — Small Business Owners + Probate & Estate Administration