There have been suggestions of a planned raise in the price of probate. And a general change of how probate will be charged full stop recently. But with the general election being called these plans have now been scrapped. The Ministry of Justice has said that there is just not enough time to get the proposals through Parliament before the election takes place. Of course, this hints that once the election is out of the way the new charges may still be put to Parliament. But for the moment at least they have been put on hold.
Critics of the new probate price – called a stealth death tax by man – are pleased about the governmental turnaround. But with the new reforms bringing in an extra £300 million each year, any new government may be keen to start the idea up again.
The current flat fee of £215 (£155 if using a solicitor) for all estates over £5,000, will remain in place. With no changes taking place for the moment. The new probate fee structure was to have been on a sliding scale. Therefore meaning that any estates under £50,000 would have no charge at all. But for estates of over £2 million the cost would have been £20,000. Although an additional 25,000 estates would not have to pay any probate fees at all. The majority of people would end up paying a lot more than before.
