The controversial plans to increase probate fees from £155 or £215 to up to £20,000 for some estates in England and Wales from May 2017 has been scrapped ahead of the general election in June.
The new legislation - dubbed a "stealth death tax" by critics - will now not have enough time to go through Parliament ahead of the recently announced general election, according to The Ministry of Justice.
The current flat-fee system would have been replaced by a sliding fee scale linked to the value of the estate, meaning that thousands of people would have faced significant increases in probate costs.
Instead of paying a fee of £300 for an estate valued at over £2m, the fee would have jumped to £20,000 under the proposed new legislation.
This is obviously very welcome news for many at this point. It remains to be seen however whether the proposals will be resurrected if Theresa May is re-elected in June.
For further information about probate fees, please contact the Private Client team at Taylor Walton.