Government scraps increased probate fees
The UK government announced, on Friday, 21 April 2017, that it will not go ahead with the highly unpopular probate fee increases that were due to be applied from May onwards.
It has been declared that there is not sufficient parliamentary time before the General Election in June to push ahead with the proposals, but at the time of writing it is unclear whether plans will be reinstated by the future Government.
The proposed probate application fees increase according to the value of the estate.
|Value of estate
(before inheritance tax)
|Proportion of all estates in England and Wales||Proposed Fee|
|Up to £50,000 or exempt from requiring a grant of probate||57%||£0|
|Exceeds £50,000 but does not exceed £300,000||27%||£300|
|Exceeds £300,000 but does not exceed £50,000||10%||£1,000|
|Exceeds £500,000 but does not exceed £1m||5%||£4,000|
|Exceeds £1m but does not exceed £1.6m||1%||£8,000|
|Exceeds £1.6 but does not exceed £2m||0.2%||£12,000|