The BBC have published a new article with breaking news regarding the proposed increases to probate fees in May.
As you are probably aware, Probate fees had been due to rise from £155 or £215 to up to £20,000 for some estates in England and Wales from May this year however, the Ministry of Justice said there was now not enough time for the legislation – dubbed a “stealth death tax” by critics – to go through Parliament.
It is noteworthy that a senior Conservative declined to say if the scheme would be brought back if the prime minister was re-elected. Many believe the increased fees are merely “on hold” and that there will be some price increase in the near future.
Currently, there is a flat fee of either £155 or £215 per application for probate, depending on whether or not the application is made through a solicitor. There is no fee paid for estates worth under £5,000.
Under the proposed changes this system would have been replaced by a sliding fee scale linked to the value of the estate, with fees ranging from £0 to £20,000.
Watch this space for further news!