Not many people know, but in the UK it is within the government’s remit to protect and promote the country’s cultural and artistic heritage. As a result, there are heritage tax reliefs available on death.
We blogged recently about the impending stealth tax the government plans to introduce and you will have seen the news stories about delays at probate registries due to IT issues. So, what is the update? Nothing. The probate fees order is still waiting for the final stages to bring it into law and probate registries are still battling with their backlogs.
The new probate fee structure, which was set to be introduced in April has been delayed due to the time demands of on-going Brexit discussions in Parliament; we’ve blogged previously about the Government’s introduction of a new ‘ stealth tax’ here.
How do you secure English assets when there is a foreign grant of probate? The English Probate Registry can re-seal a foreign grant provided the deceased was from a current or former commonwealth country. This will give the executor named in the foreign grant the legal power to deal with the English asset.
The House of Lords has voted through the proposal which will introduce a new stealth death tax for the middle classes from April 2019. The fees payable to the Probate Registry will be dramatically increased from a flat rate of £155 for a solicitor application or £215 for a personal application for estates above £5,000 to a maximum of £6,000.
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