Executors rush to avoid increased probate fees

On 23 January 2019, NFU Mutual released an analysis of HM Revenue and Customs tax receipts indicating that IHT receipts had reached £5.2bn in 2018 with receipts for April to December 2018 up 0.4% from 2017. 

This increase is expected to spike even more over the next few of months due to the new probate fees which will see the flat fee of £215 (or £155 for those applying through a solicitor) replaced by a tiered charging structure which starts at £0 for estates worth less than £50,000, but increases, depending on the value of the estate, to a maximum of £6,000 for estates worth more than £2million.