What a roller coaster. Our posts of 2017 indicated huge increases in probate fees for England and Wales but that the proposal had later been dropped. Unfortunately the plan has been resuscitated by Government and is due to be implemented from April 2019.
In England and Wales, probate fees – paid to Government on administering someone’s estate after they die – will now be paid as a sliding scale depending on how much the estate is worth, rather than as a flat fee. At the moment, families pay a flat £215, or £155 if they apply through a solicitor, on estates over £5,000.
From April 2019. estates worth between £50,000 and £300,000 will be charged a straight fee of £250, while the maximum charge is £6,000 for estates worth £2 million or more. The fees will depend on the amount the estate is worth:
- Estates worth less than £50,000 will pay nothing, meaning estates worth between £5,000 and £50,000 will save £215 compared to the current system.
- 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.