Changes to Probate Fees
Probate fees are due to rise in May 2017. Following a consultation in 2016, significant increases in the fees payable for a grant of probate are due in May this year. Currently the system requires a flat fee to be paid, which is, if carried out through a solicitor, £155 and if not, the fee is £215. This will change in May to a banded fee, relative to the value of assets and the estate. A table below shows the potential costs and significant potential increase, which could have implications on families, assets held and businesses involved within the probate. Value of Estate (before...
Read MoreLandowners borrowing an inheritance tax advantage
Please see the attached article on the affect on landowners of the changes proposed in the Finance (no.2) Bill 2013 to the treatment of liabilities on assets within a deceased person’s estate. This may result in increased IHT being payable as a result of reductions in claims for Agricultural Property Relief (APR) and Business Property Relief (BPR). Liabilities and IHT article
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