The government has announced plans to resurrect the new probate fee banding structure proposed in 2017.

Following a consultation  there were plans to increase probate fees from May 2017 for estates valued at £50,000 and above, but these were dropped due to the general election. The government has now announced a less punitive version of the 2017 plans, with changes expected to take effect from April 2019.

According to the draft statutory instrument laid before parliament, under the new version of the plans the fees would be:

Value of estate

Current fees

£

Value of estate

Originally proposed: fees from April 2019

£ 

Up to £5,000

-

Up to £50,000

-

Over £5,000, individual applicant

215 

£50,001 - £300,000

250

Over £5,000, solicitor applicant

155

£300,001 - £500,000

750

   

£500,001 - £1,000,000

2,500

   

£1,000,000- £1,600,000

4,000

   

£1,600,001-£2,000,000

5,000

   

£2,000,001 +

6,000

 

Links to our guides:

IHT: estate planning checklist

 

Comments (0)

Rated 0 out of 5 based on 0 voters
There are no comments posted here yet

Leave your comments

  1. Posting comment as a guest.
Rate this post:
Attachments (0 / 3)
Share Your Location