Thanks to the efforts of the TaxPayers Alliance (TPA), plans to increase probate fees up to £6,000 have been scrapped!
On Saturday the Justice Secretary Robert Buckland announced that a proposed rise in probate fees has been abolished. Government officials said the plans were “dead and buried”.
We have talked about this issue in our blogs for over a year now and this really is fantastic that the Justice Secretary has put the final nail in the coffin for this hated stealth death tax.
In July, the TPA published The Cost of Death which highlighted the punitive effects the changes in Probate Fees would have on taxpayers. The rise in probate fees would have ignored the fact that receiving an Inheritance is often unexpected, slamming bereaved families on modest incomes who don’t have the resources to consult expensive solicitors. Increasing it by 28 times the current amount would have been nothing more than a revenue grab by the taxman.
Scrapping this ridiculous rise is exactly the kind of signal politicians should be sending, that they don’t simply see death as an opportunity for a smash and grab on the family silver.
Redwood is one of the Souths’ leading Pensions, Investments, Wills, Trusts & Estate Planning providers and we are dedicated to helping families to grow, protect and enjoy their wealth. With our unrivalled knowledge of Estate Planning and Probate Services, we can advise on any situation. Join us at one of our Free Public Information Seminars: Book online Book Me A Place!, Call us on 01489877 547 or Email info@redwoodfinancial.co.uk to book a no-obligation Initial Meeting with us to review your financial planning needs.
