Ben Tyer in MONEYWISE.CO.UK - Soaring probate fees of up to £6,000

02/05/19

The Ministry of Justice confirmed that it will implement a banded structure for the payment of probate fees.

Currently a flat fee of £215 applies in England and Wales (£155 if you use a solicitor). The new charges will be linked to the size of the estate and will be as follows:

          ·  Up to £50,000: no charge

          ·  £50,000- £300,000: £250

          · £300,000- £500,000: £750

          · £500,000 to £1m: £2,500

          · £1m to £1.6m: £4,000

          · £1.6m- £2m: £5,000

          · Above £2m: £6,000

I am quoted in Moneywise.co.uk how the proposals still leave a lot of questions unanswered. At the time of writing the introduction of the controversial fee increase has been delayed. 

 

Ben Tyer

 

Link to Moneywise.co.uk article: http://bit.ly/2HCB1ia