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CWJ Dispute Unreasonable Increase In Probate Fees
The government is set to introduce changes to court fees payable to obtain a grant of probate after someone dies. Wholesale changes are due to be introduced by the Ministry of Justice in May 2017, which will see fees increase to as much as £20,000, and many are describing it as a death tax. This new legislation is set to affect nearly 42% of estates in the UK.
It is something to bear in mind for those engaged in tax planning for the future, although it’s unlikely they can do much to mitigate against the fees, but for executors who are already in the process of administering larger estates, it’s worth reviewing the position to see whether they can take action to apply for probate before May.
From May, instead of paying a flat fee of £215 for a personal application, or £155 through a solicitor, there will be a tiered set of fees. Estates with a value of less than £50,000 will be exempt. Above that, the fees will be:
|£50,000 - £300,000||£300|
|£300,001 - £500,000||£1,000|
|£500,001 - £1,000,000||£4,000|
|£1,000,001 - £1,600,000||£8,000|
|£1,600,001 - £2,000,000||£12,000|
CWJ have taken a proactive step to try and protect your wealth by challenging this new government proposed legislation by signing an online petition to have this matter debated by Parliament. https://petition.parliament.uk/petitions/188175