6 ISSUES FOR JUST £6 Subscribe to Business & Professional Life today CLICK HERE

Warning to seek advice if proposed probate fees hike goes ahead

PUBLISHED: 13:43 20 November 2018 | UPDATED: 13:43 20 November 2018

Val Buzzard, director at Whitley Stimpson

Val Buzzard, director at Whitley Stimpson

Archant

“Anyone concerned about the implications of taking on a grant of probate should seek expert help.”

The Government is pressing ahead with plans to implement a massive hike in probate fees which could cost some families thousands of pounds more than current levels.

If the controversial proposals go ahead from as early as the next financial year, estates worth up to £1m will incur a fee of up to £2,500 while those above £2m will see costs escalate to £6,000.

Currently, there is a £215 flat rate for a grant of probate which allows the executor of a will to access and distribute an individual’s estate when they die. If their affairs are handled by a solicitor, then that reduces to £155.

Experts at Whitley Stimpson, one of the largest independent accountancy practices in the area, with offices in Banbury, Bicester, High Wycombe and Witney, say it is important everyone is aware of the potential changes and their implications.

Val Buzzard, a director at the firm, said: “Handling the estate of a loved one when they die can be stressful, especially at a time of grieving. Being faced with these new costs could add to the distress, especially as they will come on top of inheritance tax.

“The fees will apply to a large number of people in the South East because property values are higher, adding to the value of the estate so they will kick in even if there is little else left in a will.

“Anyone concerned about the implications of taking on a grant of probate should seek expert help.”

Whitley Stimpson has a team of specialists who advise on the full spectrum of financial matters from business and personal tax to wealth management, wills and inheritance tax.

For further details, please contact Val Buzzard, on 01295 270200 or valb@whitleystimpson.co.uk

Visit the Whitley Stimpson website here.

0 comments

Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files
Comments

Please log in to leave a comment and share your views with other Cotswold Life visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Cotswold Life staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Cotswold Life account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

More from Cotswold Life

10:24

This year sees the 40th anniversary of the publication of Raymond Briggs’ original picture book The Snowman. With three performances of the animated film – with live orchestra – coming to Gloucester Cathedral next month, we thought we’d catch up with Rachel Whibley, managing director of Carrot Productions (and occasional snowman), to find out more...

Read more
Yesterday, 14:10

It’s the season of terrible puns, magic lamps, and generous genies: Aladdin, the all-new panto at the Everyman, has been written by none other than legendary Blue Peter presenter Peter Duncan, and stars everyone’s favourite clown, Tweedy. The Barnard family from Nailsworth - mum, dad, Harriet (12) and Lewis (6) - made a Wishee (Washee) for tickets; grabbed their car (Window Twan) keys; and dashed off to see A Ladd In Cheltenham

Read more
Yesterday, 13:45

Crispy, frosty days and perhaps even a dusting of snow, winter is a magical time in the Cotswolds. If you’re thinking of tying the knot during this beautiful season in the region, here are six winter wedding ideas to help you start planning your special day

Read more

Christmas in the Wilson household is a heartwarming, traditional family affair

Read more
Yesterday, 13:15

Tracy Spiers takes an impressive, if hypothetical, budget on a shopping spree in Cheltenham’s independent stores

Read more
Yesterday, 13:09

Veganism is the latest food trend to hit the Cotswolds but it’s something we can all enjoy a bite of

Read more
Yesterday, 12:23

Get out and enjoy seasonal celebrations with a Cotswold twist

Read more
Yesterday, 12:21

The weekend is fast approaching and for those still deciding how to spend their Friday through to Sunday, we pick 5 of the best ways to spend your weekend in the Cotswolds

Read more
Yesterday, 09:13

Alleviate the stress of hectic Christmas preparation and endless shopping trips with a festive afternoon tea in one of these gorgeous Cotswold settings

Read more
Friday, December 7, 2018

Find a fabulous gift for everyone with Whatley Manor’s monetary vouchers.

Read more
Thursday, December 6, 2018

One lucky reader could win a pair of tickets to see Ella Mills, founder of Deliciously Ella, at Calcot Manor as well as two signed copies of ‘The Plant-Based Cookbook’

Read more
Thursday, December 6, 2018

People travel from far and wide to visit the Cotswolds at Christmas. We’ve compiled 24 reasons why you should join them.

Read more
Tuesday, December 4, 2018

If you’re looking for things to do in the Cotswolds this month, we have gathered plenty of events for you to pop in your diary

Read more
Tuesday, December 4, 2018

Hundreds of participating National Lottery-funded visitor attractions across the UK are saying ‘thanks’ to people who have raised money for good causes by buying a lottery ticket, including a number of venues in the Cotswolds

Read more

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

Topics of Interest

Food and Drink Directory A+ Education

Subscribe or buy a mag today

subscription ad

Local Business Directory

Property Search