Increase in Probate Fees from April 2019
On 5th November 2018 the Ministry of Justice (MOJ) announced a measure which will see probate fees in England and Wales paid to the Government by some estates increase by almost £6,000.
Probate fees are due when the executors of an estate apply for a grant of probate in order to permit them to gather in the assets of a deceased person’s estate and distribute them to their beneficiaries in accordance with the directions given in their Will.
You may recall that in May 2017 probate fees had been due to increase from £215 up to £20,000 for some estates valued at more than £2 million. However, that planned increase in probate fees was scrapped ahead of the 2017 General Election as there was not enough time for the legislation to be passed through Parliament.
Currently, a flat fee of £215 applies for personal applications regardless of the size of the estate.
|Value of Estate||Current Fee||New Fee||Increase|
|Less than £5,000||Free||Free||No Change|
|£5,000 - £50,000||£215||Free||Saving of £215|
|£50,001 - £300,000||£215||£250||Increase of £35|
|£300,001 - £500,000||£215||£750||Increase of £535|
|£500,001 - £1,000,000||£215||£2,500||Increase of £2,285|
|£1,000,001 - £1,600,000||£215||£4,000||Increase of £3,785|
|£1,600,001 - £2,000,000||£215||£5,000||Increase of £4,785|
|More than £2,000,000||£215||£6,000||Increase of £5,785|
The change is projected to generate £185 million of additional annual revenue for the MOJ by 2022/23.
This fee is in addition to any Inheritance Tax payable on the estate and has been labelled by some as a new “death tax”.
If you would like more information, or would like to discuss your affairs in general, please contact our Tax Partners Steve Crompton or Chris Barrington on the details below:
Partner – Head of Tax
direct dial: 01942 292541
mobile: 07790 840394
direct dial: 01942 292505
mobile: 07730 436070