The Government is pushing ahead with controversial plans to dramatically raise the fees paid by families when winding up the estate of loved one.
The proposals will see estates worth 2 million or more, pay £6000 on probate fees, up from £155 currently.
Estates with the value of between 1 million and 1.6 million will have to pay £4000. In London and the South East, where high house prices have led to increased property wealth, many families will be caught out.
The Government said, the changes were necessary to fund the Court system, and were a ‘fair and more progressive’ way of paying. It estimates the removal rate of £185 million a year by 2022/23.
The charge is paid in addition to inheritance tax, which is levied at 40% on assets above each individuals £325,000 threshold.
It had been hoped that the Government had dropped the plan in the face of fierce opposition, but legislation is now being brought forward, and will be laid before parliament shortly.
It is thought the rules will come into force as early as April 2019.
You pay your probate fees at the same time as sending your probate application form to the Probate Registry. Inheritance tax, if payable, is paid to HM Revenue and Customs before the Grant is issued.