Increased Probate Fees Scrapped
Earlier this year the Government announced plans to increase probate fees from 1 May 2017 by introducing a sliding scale of fees based on the value of the estate. Fees were due to rise from £215, or £155 if the application is made by a solicitor, up to a maximum of £20,000 for clients whose estates were valued at over £2million. Estates valued at less than £50,000 would not have had to pay a probate fee, an increase on the current threshold of £5000.
As of this morning it has been announced that these proposals have been scrapped ahead the general election as there will not be enough time for the statutory instrument to complete its passage through parliament before parliament closes prior to the election.
Currently it is not clear whether the proposed changes to the fees will be addressed again in future after the election or whether the proposals are being scrapped altogether; it is now an issue for the next government.
