In one week’s time it will be April. How have we arrived a quarter of the way through 2019 already? April usually brings a variety of changes through the law as a result of the new tax year and this year is no different. In this article we will discuss how Probate Fees will change in 2019.
Probate fees are due to increase considerably from April 2019. Currently, probate fees are charged on a fixed fee of £215 if applications are made by individuals and £155 for applications are made by Solicitors – regardless of the size of the estate. Whereas the proposed increase in probate fees changes proposed fee dependant on the value of the estate.
As a result, there will be no fee applicable for estates valued below £50,000.
Cost of Probate
Below we have set out the new probate fees and the fee increase.
|Estates worth between:||New Probate Fee:||Fee Increase of:|
|£50,000 – £300,000||£250||£35|
|£300,001 – £500,000||£750||£535|
|£500,001 – £1 million||£2,500||£2,285|
|£1 million – £1.6 million||£4,000||£3,785|
|£1.6 million – £2 million||£5,000||£4,785|
|£2 million +||£6,000||£5,785|
The increase in probate fees is less than the previous proposals in 2016 but it is still a significant increase and it has come up against a lot of opposition on the grounds that it is a stealth tax.
The exact date for when the new probate fees will come into force in April 2019 is yet to be released. It is also unclear whether the new probate fees will apply to deaths which occur after April 2019 or whether the probate increase will apply to all probate applications received after April 2019. Should you need to apply for Probate, we would advise submitting the probate application before April 2019 to avoid having to pay the increase in probate fees.
There are also changes to the cost of applying for death certificates. The cost was £4 at the time of registration and variable thereafter. Since 16th February 2019 the cost has increased to £11.
If you require any assistance in administering a deceased’s estate or applying for probate, please do not hesitate to contact the team at Sutton & Co Solicitors on 0121 448 3107 for a free 30 minute consultation.