Probate fees

Meeting: 
MQT on 2016-06-22
Session date: 
June 22, 2016
Reference: 
2016/2105
Question By: 
Andrew Dismore
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

The Government has been consulting on a rise in probate fees which would see an increase on estates worth £2million from £188 to £20,000. What do you consider the impact of this will be on Londoners, where the value of estates is much higher than in the rest of the country due to property values; and will you make representations about it to the Ministry of Justice?

Answer

Answer for Probate fees

Answer for Probate fees

Answered By: 
The Mayor

In principle I support the government's proposed reforms which would eliminate probate fees for many more estates by raising the value threshold to £50,000, while ensuring that higher fees are charged on more valuable estates but with the fee never exceeding 1% of the total value.

However, I also realise that because of London's higher property values, the higher fees will disproportionately affect Londoners. I will monitor the situation closely and make representations to the Government at the appropriate time.