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Legal, pensions and money

Sliding scale for probate fees!

(5 Posts)
J52 Sat 12-Mar-16 12:22:33

In today's Times Money section is an article regarding the new proposed sliding scale for probate fees. Currently a private individual is charged £215 for the granting of probate. The Government intend to introduce a sliding scale, according to the value of the estate.

Charge
Up to £50,000 - £0
£50,000- £300,000 - £300
£ 300,000 - £500,00. - £100,000
£500,000 - £1 million - £4,000

It goes on until over £2 million at £20,000

I was surprised that little has been said about this and that consultation runs only until April1st. I'm sure it's not a joke. Given that most home owners will fall into this band, it an inheritance tax, by stealth! Apparently the executors will have to stump up the money before probate is granted.
Details on consult.justice.gov.uk.

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J52 Sat 12-Mar-16 17:41:20

Just refreshing this in case it's of interest to anyone.

x

willsmadnan Sat 12-Mar-16 20:39:31

Just in case anyone is feeling hard-done by, I have just recieved the quote for the equivalent of probate for an estimated estate of 50,000 euros ...2,500 euros.
The same week I got the bill for calling an ambulance and para- medics... 850 euros. This is life outside the UK ! Admittedly the state health provision has paid 63% of the emergency call-out, but due to an administration muddle I will be paying the rest. When I got the bill, I did think it might be a good idea for those in the UK who call an ambulance or rock up at A&E at the drop of a hat to at least be aware of how much these services cost the NHS.
The up-side (ironic as it may seem) is that DH's funeral bill (collecting him from the house, 6 days at the funeral home and cremation ) only came to 1,800 euros. So perhaps it's swings and roundabouts..... apart from the probate fees. What do they say about death and taxes ??

Pippa000 Sun 13-Mar-16 07:08:15

We are just having Cyprus wills reviewed, due to change in the law here. Lawyers are permitted to ask for no LESS than 12% of the estate and they must be used as every will has to go to probate. (some I know were charged 25%)

iaincam Mon 14-Mar-16 10:05:10

The Department of Justice say that the residence nil rate band being introduced next year will reduce the amount of inheritance tax by more than the increase in probate fees, but it is still a stealth tax. The current probate fees cover the costs of the probate registries, but the rest of the courts and tribunals service doesn't, so the government are generating a lot more income to subsidise the civil and criminal courts.
Lawyers fees for running a simple probate are usually less than 2% of the estate in England and Wales.