The planned increase in probate fees has been scrapped ahead of the general election
The controversial plan to increase the probate fees payable when someone dies has now been scrapped ahead of the general election as there is not enough time for the legislation to be passed through Parliament.
The probate fees had been due to increase from £215 up to £20,000 for some estates valued at more than £2million with effect from May 2017. The increased fee would have been in addition to any Inheritance Tax payable on an estate and was labelled by some as a new ‘death tax’.
It is not clear whether these proposals will be brought back to the table if the Prime Minister is re-elected. We will stay close to the dialogue and keep you informed when there are any further developments.
If you would like more information, or would like to discuss your tax 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