Temporary probate process in place
In our Winter Insight newsletter we brought you news that Probate fees were due to change in April 2019 from the current flat rate structure to one based on the value of the estate.
With Parliament focussed in other areas this process has not been completed and whilst the changes to probate fees are being considered there is a temporary process in place for applying for probate.
Ordinarily, to obtain probate the person dealing with the estate must first submit an Inheritance Tax account to HMRC as Probate registries normally won’t accept an application for probate until HMRC has confirmed that it has processed the Inheritance Tax account.
However, while the process for introducing the new fee structure is ongoing, probate registries will accept applications for probate before the account has been processed by HMRC.
The application must include a note to say that the appropriate Inheritance Tax forms will follow shortly.
Click here to read the original article in our winter newsletter.
To speak to a TPO financial adviser or to request a free initial financial planning consultation call us now on 0333 325 9065 or email firstname.lastname@example.org.