The Ministry of Justice today published the Government’s response to consultation on proposals to reform fees for Grants of Probate.
Despite the responses to the consultation being overwhelmingly against the Government’s proposals, the report states that the Government has decided to proceed with the following proposals:
- The threshold for the value of an estate below which no fee is payable for applications for a Grant of Probate will be increased from £5,000 to £50,000.
- Over and above this, fees will be implemented on a banding structure, increasing in line with the table below.
|Value of estate (before Inheritance Tax)||Proposed fee|
|Up to £50,000 or exempt from requiring a Grant of Probate||£0|
|Exceeds £50,000 but does not exceed £300,000||£300|
|Exceeds £300,000 but does not exceed £500,000||£1,000|
|Exceeds £500,000 but does not exceed £1 million||£4,000|
|Exceeds £1 million but does not exceed £1.6 million||£8,000|
|Exceeds £1.6 million but does not exceed £2 million||£12,000|
|Above £2 million||£20,000|
The proposal is that fees will become effective from May 2017 subject to the approval of parliament.
This is likely to have a far-reaching effect and in particular potentially create difficulty for executors in raising funds to pay the court fee when making an application for a Grant of Probate.
For more information on this and other matters please contact Paul Lowery at [email protected] or 0118 952 7227.
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