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The Probate Tax is back

Practical Issues
Bouleversee
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Re: The Probate Tax is back

#257743

Postby Bouleversee » October 14th, 2019, 12:14 pm

I was delighted to hear this news on R4 at the weekend; I couldn't see anything about it in this morning's Times, however. It was an outrageous proposal.

I wonder what measures they will introduce to increase the tax take to finance all the increased expenditure the govt. has promised. We will soon find out as there will be a budget on Nov. 6.

swill453
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Re: The Probate Tax is back

#257752

Postby swill453 » October 14th, 2019, 12:27 pm

Bouleversee wrote:We will soon find out as there will be a budget on Nov. 6.

Care to take a bet on that? :-)

Scott.

richlist
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Re: The Probate Tax is back

#257758

Postby richlist » October 14th, 2019, 12:36 pm

swill453 wrote:
Bouleversee wrote:We will soon find out as there will be a budget on Nov. 6.

Care to take a bet on that? :-)

Scott.

If it's a no deal Brexit then the budget will be delayed and on Nov' 6th there will just be an economic statement.

Bouleversee
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Re: The Probate Tax is back

#257777

Postby Bouleversee » October 14th, 2019, 2:03 pm

I was going to add: "Or not, as the case may be" but you beat me to it. I wouldn't bet on anything connected with Brexit. I keep thinking I will wake up and find out it has all been a nasty dream but no such luck.

PinkDalek
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Re: The Probate Tax is back

#292750

Postby PinkDalek » March 20th, 2020, 6:58 pm

I've been asked by PM what the latest on this might be but it is not something I've followed closely recently.

This STEP blog dated 14 October 2019 suggests the idea of a large hike was dropped but I have no time to research further:

https://blog.step.org/2019/10/14/uk-government-drops-probate-fee-increase/

I'm aware The Non-Contentious Probate (Fees) Order 2018 is still in existence (when the maximum was to be £6,000) but it is marked Draft Legislation: This is a draft item of legislation and has not yet been made as a UK Statutory Instrument. Prior to that there was to have been a maximum fee of £20,000.

http://www.legislation.gov.uk/ukdsi/2018/9780111174319/schedule/1

The current fees (might be a different scale for Scotland or Northern Ireland) would appear to be:

The application fee is £215 if the value of the estate is £5,000 or over.

There’s no fee if the estate is under £5,000.


https://www.gov.uk/applying-for-probate/apply-for-probate

Can anyone comment on whether or not The Non-Contentious Probate (Fees) Order 2018 has been abandoned or whatever the technical term might be?

eisman
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Re: The Probate Tax is back

#300172

Postby eisman » April 12th, 2020, 4:38 pm

Tthe current draft order has lapsed. See the STEP blog dated 14 October 2019 commenting on the matter:

https://blog.step.org/tag/probate-fees/

The blog speculates whether at some point in the future a new or amended order could be reintroduced.

PinkDalek
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Re: The Probate Tax is back

#300190

Postby PinkDalek » April 12th, 2020, 5:51 pm

Thanks and welcome back but that’s the same STEP blog as in my post immediately preceding yours. Did you by any chance intend to post a different URL?

eisman
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Re: The Probate Tax is back

#300490

Postby eisman » April 13th, 2020, 8:57 pm

PinkDalek

Apologies - I clearlydidn't read your post fully, as I hadn't spotted your earlier link was to the same STEP website page.

:oops:


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