Alyson Coulson looks at the current IHT & probate situation & whether Brexit will have any effect
- How will the new Lord Chancellor approach the key issue of inheritance tax?
- What advice is to be given in the wake of the Brexit vote?
For private client lawyers, the appointment of a new Chancellor of the Exchequer always comes with a certain amount of nervousness. How will the new Chancellor deal with the tax that affects us most—inheritance tax? Will the ship remain on the same course set by the previous incumbent or will he take the helm and lead us into new uncharted waters?
So, what were we expecting? Back in February, we learned that the government is considering a massive hike in court fees for probate applications.
Our clients are currently required to pay a flat fee of £155 to process an application for a grant of probate. This flat fee had already risen from £45 in 2014. Individuals who do not use a solicitor to prepare their probate application are currently
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