Relief for landowners as probate fees dropped
PUBLISHED: 15:43 25 April 2017 | UPDATED: 15:43 25 April 2017
Theresa May's decision to go for a snap election has prompted the Government to drop controversial proposals to raise probate fees.
Landowners across the West will be drawing a sigh of relief at the decision to drop plans to raise probate fees – which could have slapped a £20,000 fee on estates valued at more than £2 million.
Matthew Peters from Bruton Knowles’ Gloucester office said the rules – which had been due to come into effect in May – would have resulted in some people’s bills rise by more than 9,000 per cent.
He said: “The Ministry of Justice have explained it would take too long to get the proposals through Parliament in time given he imminent General Election.
Branded a “stealth death tax” the proposals would have raised a whopping £300million a year – earmarked for the courts and tribunal service.
“But the big landowners are not quite out of the woods yet – the new Government could still resurrect the proposed rise some time in the future.”
But he repeated his advice that those who don’t already have an up-to-date will should ensure they get one to ensure estates are settled with the minimum of fuss.
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