Probate Registry Fees Increase 2017 – The Latest
We still do not have a date for when in May the increase in probate registry fees is to come into effect so most people are still calculating on the basis it will be 1st May.
The Government appears to have listened to the concern expressed about delays at the Inland Revenue Inheritance Tax Department. These delays in issuing paperwork could have resulted in the deadline being missed. According to the most recent guidance from the Probate Registries, as long as the right forms have been submitted to the Revenue, applications sent to the Probate Registry before the May date will be accepted at the old fee rates.
This is good news but it must be remembered that all the other paperwork has to be in order so unless they are supremely confident, executors and administrators might wish to consider instructing Probaters or other professionals if they want to maximize their chances of beating the deadline.
Here is a reminder of the new fees and how they are matched to the value of the relevant estate.
|Value of Estate
(before inheritance tax)
|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||£1000|
|Exceeds £500,000 but does not exceed £1m||£4000|
|Exceeds £1m but does not exceed £1.6m||£8000|
|Exceeds £1.6m but does not exceed £2m||£12000|