Probate - new proportional fee structure.
Posted: February 24th, 2017, 4:05 pm
Proportional fees going ahead.
https://consult.justice.gov.uk/digital- ... f-probate/
Following the consultation, the government has decided to proceed with all the proposals as set out in the consultation; a summary of the responses and details of the reasons for that decision are set out in the consultation response, published here alongside an assessment of the impacts of these proposals and an updated equalities statement.
https://consult.justice.gov.uk/digital- ... sponse.pdf
Table 1: New fee structure
Value of estate (before inheritance tax) Proportion of all estates in England and Wales Proposed Fee
Up to £50,000 or exempt from requiring a grant of probate 58% £0
Exceeds £50,000 but does not exceed £300,000 23% £300
Exceeds £300,000 but does not exceed £500,000 11% £1,000
Exceeds £500,000 but does not exceed £1m 6% £4,000
Exceeds £1m but does not exceed £1.6m 1% £8,000
Exceeds £1.6m but does not exceed £2m 0.3% £12,000
Above £2m 0.5% £20,000
All payable up front!
https://consult.justice.gov.uk/digital- ... f-probate/
Following the consultation, the government has decided to proceed with all the proposals as set out in the consultation; a summary of the responses and details of the reasons for that decision are set out in the consultation response, published here alongside an assessment of the impacts of these proposals and an updated equalities statement.
https://consult.justice.gov.uk/digital- ... sponse.pdf
Table 1: New fee structure
Value of estate (before inheritance tax) Proportion of all estates in England and Wales Proposed Fee
Up to £50,000 or exempt from requiring a grant of probate 58% £0
Exceeds £50,000 but does not exceed £300,000 23% £300
Exceeds £300,000 but does not exceed £500,000 11% £1,000
Exceeds £500,000 but does not exceed £1m 6% £4,000
Exceeds £1m but does not exceed £1.6m 1% £8,000
Exceeds £1.6m but does not exceed £2m 0.3% £12,000
Above £2m 0.5% £20,000
All payable up front!