More evidence that the United Kingdom has different laws and regulations for different Nations of the UK. Today we highlight the difference in ‘Probate fees’ now being imposed by the UK Government on England.
www.moneysavingexpert.com/news/2018/11/government-announces-probate-fees-hike/
The Government has announced changes to probate fees, which means some will pay almost £6,000 more – but for estates worth less than £50,000, you won’t pay anything at all.
In England and Wales, probate fees – paid when administering someone’s estate after they die – will now be paid as asliding scale depending on how much the estate is worth, rather than as a flatfee.
At the moment, families pay a flat £215, or £155 if they applythrough a solicitor, on estates over £5,000. This threshold at which you’ll need to pay probate fees is set to be lifted to £50,000 from April 2019– according to the Ministry of Justice, this means an extra 25,000 estates peryear won’t pay any fees at all.
But if the estate’s value is higher than this, you’ll see an increase in probate fees. Estates worth between £50,000 and £300,000 will be charged £250, while the maximum charge is £6,000 for estates worth £2 million or more.
Estates worth from £50,000 up to £300,000 will pay £250, a rise of £35.
Estates worth from £300,000 up to £500,000 will pay £750, a rise of £535.
Estates worth from £500,000 up to £1 million will pay £2,500, a rise of £2,285.
Estates worth from £1 million up to £1.6 million will pay £4,000, a rise of £3,785.
Estates worth from £1.6 million up to £2 million will pay £5,000, a rise of £4,785.
Estates worth more than £2 million will pay £6,000, a rise of £5,785.
Comment: The probate fees are to rise in England and are another stealth tax on us. Patronisingly the UK government says we will not have to pay if the estate isbelow £50,000, few will have that advantage as the value of their houses will be way above. Probate fees in Scotland and Northern Ireland remain at £200.
Scilla Cullen,
Director and Membership Secretary