Probate fees to rise to £6K for largest estates

Plans to increase the cost of probate with the introduction of banded fees will see estates valued at over £1m paying £4,000 in fees from 1 April 2019. However, original proposals to charge up to £20,000 for estates worth over £2m have been dropped.

The estate value threshold will rise from £5,000 to £50,000, removing around 25,000 estates annually out of fees.  

Currently a flat fee of £155 is payable upon a probate application made by a solicitor or accountant or £215 for an application made by an individual. This will be replaced by a sliding scale of fees linked to an estate's value, ranging from £250 to a £6,000 maximum.

 

Value of estate (before inheritance tax)

Proposed fee

Up to £50,000 or exempt from requiring a grant of probate

£0

£50,000 - £300,000

£250

£300,000 - £500,000

£750

£500,000 – £1m

£2,500

£1m - £1.6m

£4,000

£1.6m - £2m

£5,000

£2m +

£6,000