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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