There is good news this morning, as we learn that the controversial plans to increase probate fees in May have (for now) been scrapped.
The plans to increase fees have faced criticism from practitioners and the public alike and were seen by many as a stealth ‘death tax’.
Currently there is a flat fee of £155 for solicitor applications (or £215 for personal applications) regardless of the value of the estate. The proposal was to increase the fee on a sliding scale starting at £300 for estates worth more than £50,000, increasing dramatically to a fee of £20,000 for estates worth over £2m.
Some have queried whether the plans to increase the fees in the manner proposed were legal and the plans were reviewed, but the Government nevertheless (even yesterday) seemed intent on pressing ahead regardless.
The Ministry of Justice has now confirmed that due to recent developments with the snap general election, there will not be enough time to get the legislation through Parliament and for the time being the suggested reforms have been dropped.
We will have to wait and see whether the new government intends to revisit the matter!
For further information please contact us on 023 9298 1000.