Probate Fees U Turn For Now
Published / Last Updated on 23/04/2017
Probate Fees U Turn For Now.
The Ministry of Justice has suspended plans to increase probate fees next month.
The planned increases were from a flat fee of either £0 (estates below £5,000), £155 (application via solicitor) and £215 (personal application with no legal representative).
|
Value of estate (before inheritance tax deducted) |
Proposed Probate Fees |
|
Up to £50,000 |
£0 |
|
£50,001 - £300,000 |
£300 |
|
£300,001 - £500,000 |
£1,000 |
|
£500,001 - £1m |
£4,000 |
|
£1m - £1.6m |
£8,000 |
|
£1.6m - £2m |
£12,000 |
|
£2m+ |
£20,000 |
The Ministry of Justice cite a lack of time to pass the legislation, announced in the March Budget.
We suggest it is all to do with Parliament being dissolved 25 working days before a general election. The general election is on 8 June 2017 meaning Parliament will be dissolved at 00.01am on 3 May 2017.
Reality Check on Probate Fees
We suggest this is merely a postponement. After the election, if the Conservatives are still in power, we expect this to be resurrected.