Probate fees in UK to be increased
UK – The government is planning to increase probate fees in an effort to raise £250m per year (€316m).
Probate fees are charged if a person dies and leaves property to a relative. The executor of the will or the person appointed by the executor to act on their behalf usually seeks a grant of probate in order to administer the estate.
The increases proposed by the Ministry of Justice will affect people living in England and Wales where the current flat fee of £215 (€272) will be replaced by a range of fees which will be capped at £20,000 (€25,330).
The current fee of £215 is charged on estates over the value of £5,000 (€6,330) but this base level will now rise to £50,000 (€63,330). According to BBC News “this means that 57% estates will pay nothing but anyone with an estate worth more than £50,000 will pay considerable more.”
The changes are being introduced in a bid by the government to reduce the running costs of courts and tribunals.
Proposed Probate Fees for England & Wales
£0 for estates valued at less than £50,000
£300 for estates valued from £50,000 to £300,000
£1,000 for estates valued from £300,000 to £500,000
£4,000 for estates valued from £500,000 to £1m
£8,000 for estates valued from £1m to £1.6m
£12,000 for estates valued from £1.6m to £2m
£20,000 for estates valued above £2m
Further information on probate:
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