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Stealth death tax plans abolished

Author: Vicky Sladdin

Plans to increase Probate court fees from £155.00/£215.00 up to a maximum of £20,000.00 have been abolished.

The proposed changes, which were to be introduced next month, had a sliding scale of fees linked to the value of the estate from £300.00 to those estates worth in excess of £50,000.00 up to £20,000.00 for estates valued at more than £2million.  The proposed changes represented anywhere between a 40% and 9,200% increase on the current fees.

A committee of MP’s questioned whether the changes were legal and added that the charges appeared to be more of a tax than a fee.

For now, at least, the fee will remain at a flat level irrelevant of value of the estate.  However, in light of the forthcoming general election, a senior conservative declined to say whether the scheme would be brought back if the Prime Minister was re-elected. Watch this space.

Until after the June 8 election, it is business as usual which will no doubt lead to a reduction in the number of hastily prepared applications being submitted to the Probate Registry in advance of the proposed changes.

If you have any queries or need advice about any aspect of Wills or Probate, then please contact us on 01302 320621 and we will be happy to help.

 

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