Tax proposals dropped from Finance Bill 2017

Several tax proposals dropped as 2017 General Election approaches With the 2017 ‘snap’ General Election almost upon us, several tax proposals have been dropped from the Finance Bill 2017 before parliament is dissolved on 3 May. The dropped proposals will be ‘held over’ until after the election when they become a matter for the next government. Key proposals which have … Read More

Increase in probate fees confirmed

We wrote over a year ago about the government’s proposals to increase probate fees and these changes have recently been confirmed. The fees will be paid on a sliding scale, starting at £300 for estates valued at between £50,000 and £300,000. Probate fees on estates valued at in excess of £2m will be set at £20,000. Approximately 58% of estates … Read More

Proposals to increase probate fees – time for some tax planning?

Recent government proposals have been announced whereby individuals would be forced to pay up to £20,000 in compulsory government probate fees. Currently, only estates valued at less than £5,000 are exempt from the government probate fee. Under the new proposals, the threshold would increase to £50,000. Supporters of the plans argue that this would exempt 60% of people from paying … Read More