Probate rule change will see death tax on AIM shares

Shares that investors believed to be completely tax-free on death will be hit with effective death duties under controversial new rules to increase probate fees by 3,770%. The change will mean the cost of applying for legal permission to wind up someone’s estate will increase from the current flat fee of £250, or £155 with the help of a solicitor, to £6,000 for the largest estates. Smaller estates will pay less, based on a sliding scale, and estates worth less than £50,000 will pay nothing. The changes were expected to be introduced in the new tax year, but have been delayed. They will be brought in as soon as time is found to introduce them formally in the House of Commons.

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