Quite out of the blue, a statutory instrument has been laid before Parliament to implement a new tiered structure of fees for a grant of probate.
The Government proposed in 2016 that probate fees should be linked to the size of the estate. The changes came in for much criticism and so were dropped prior to the general election.
Now it seems that a revised structure is back on the agenda. The proposals are based on the value of the estate with those worth over £50,000 attracting fees from £250 to £6,000 when the value of the estate reaches £2 million. This compares to a maximum of £215 at present on estates valued at more than £5,000.
The proposed new fees are expected to come into effect in April 2019 and are said to be necessary to support the Courts and Tribunal Service…..though strangely there was no mention of this increase in the recent Budget. Watch this space for further details!
For more information, please contact Lesley Sutton on 01484 550037 or email email@example.com.