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Government scraps planned probate fees hike - MSE News
Former_MSE_Naomi
Posts: 519 Forumite
The Government has reversed its decision to change probate fees, which would have seen some bereaved families pay almost £6,000 extra...
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'Government scraps planned probate fees hike'
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'Government scraps planned probate fees hike'
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Comments
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Yet another blatant piece of electioneering by this appalling government, with an even more appalling PM.
The ONLY reason this is now going is the number of votes it will cost these incompetents!0 -
Good decision in my opinion - its a fee not a tax.0
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Exactly Pip, thank you. It's so easy to brush the increases aside with 'well they can pay it because it only adversely affects higher value estates'. But it's the executors (and ultimately the beneficiaries) who pay the additional fee, and in our case this is no small amount and we don't personally have the funds available as we submit our application.
Well done, whoever made the decision to scrap the increase.
Obiter, I just wonder how much net profit they actually make from all this. It must cost them a fortune to administer, check and investigate inheritance tax accounts, and how much net do they actually get out of the whole rigmarole? The only people who benefit are the lawyers, accountants, probate specialists and banks who are engaged by family members who are grieving and just don't have the emotional, intellectual or physical reserves to complete the myriad forms required.
MumOf2
xMumOf4Quit Date: 20th November 2009, 7pm
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Good decision in my opinion - its a fee not a tax.
The policy failed the dog test. ie if it has got 4 legs, a wet nose and barks it is a dog. The government may describe it as a cat (or fee) but it is a dog (or tax).
Some not very bright civil servant or politician in the ministry of justice was just trying to balance their budget, but came up with this wheeze which was probably illegal anyway if introduced by statutory instrument alone.0 -
Very nice to see that this proposed additional tax on death (It takes the same amount of work for probate irrespective of estate value) has been scrapped. When is the government now going to give us all a decent IHT free allowance, rather than penalising those of us without
direct descendents?0 -
No it certainty does not take the same amount of effort regardless of estate value.
Large estates with complicated circumstances and all sorts of illiquid and difficult to value items are going to need a LOT more work by HMRC to make sure the family/executors are being accurate and fair on the valuations to ensure the correct IHT is paid.
Of course under the now scrapped proposals smaller estate were going to pay less for probate - but hey I doubt anyone gives a toss about them.
Expect it to re-introduced if the conservative win the election.0 -
No it certainty does not take the same amount of effort regardless of estate value.
Large estates with complicated circumstances and all sorts of illiquid and difficult to value items are going to need a LOT more work by HMRC to make sure the family/executors are being accurate and fair on the valuations to ensure the correct IHT is paid.
Of course under the now scrapped proposals smaller estate were going to pay less for probate - but hey I doubt anyone gives a toss about them.
You are muddling up government departments the fee is for probate not HMRC who incidentally do rather well out of large estates already;).
The work involved in registering a death and posting up the will is not estate size dependant.0 -
You are muddling up government departments the fee is for probate not HMRC who incidentally do rather well out of large estates already;).
The work involved in registering a death and posting up the will is not estate size dependant.
With respect, so are you. It is government who 'does rather well out of large estates already', rather than HMRC.
Just sayin;)0
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