What is Probate and what are the planned fee changes?
Proposed Probate Changes
Proposed changes to fees for this service, that many are claiming to be a stealth death tax, are due to kick in from May 2017, despite a parliamentary committee questioning the legality of the changes and warning that they may be challenged in court.As reported by My Estate Planning Expert last week, court backlogs mean that many families of people who have died this year may have to pay the new rate.
The site, guided by our legal professionals, advised that if you have a family member who has died recently, or dies before May 1st, and you have not received your inheritance tax form from HMRC (or do not), to submit everything but the inheritance tax form before May, and make a note that you will send it separately afterwards. You will then be able to pay the current fee.
Radio 4 Money Box Programme on Probate Charges
As reported in Radio 4's Money Box, the charges, which vary from £0 to £20,000 according to the size of the estate (see figure 1), are for court administrative fees that the Bar Council estimate to cost just £166 per estate, and which amount to one single piece of paper. It is perhaps not surprising that the programme makers could not find an expert spokesperson to defend these changes.
