Dear all,
Firstly I hope to meet some of you at the STEP Manchester Summer dinner!
Secondly; I have an estate which, Gross is over £5,000 but net it isn’t. (Need LOA as there is a property but massively in arrears.)
HMRC just reference ‘The Estate’ - anyone definitely how they judge whether the fee is payable or not? I don’t want to call them, be on hold for 30 minutes just to be turned away.
Many thanks
Rachael WH Darbyshire
Lytham St Annes
The Non-Contentious Probate Fees Order 2004 provides the following definition at 1(2)(b):
(b)“assessed value” means the value of the net real and personal estate (excluding settled land if any) passing under the grant as shown—
(i)in the Inland Revenue affidavit (for a death occurring before 13th March 1975), or
(ii)in the Inland Revenue account (for a death occurring on or after 13th March 1975), or
(iii)in the case in which, in accordance with arrangements made between the President of the Family Division and the Commissioners of the Inland Revenue, or regulations made under section 256(1)(a) of the Inheritance Tax Act 1984(1) and from time to time in force, no such affidavit or account is required to be delivered, in the oath which is sworn to lead to the grant,
and in the case of an application to reseal means the value, as shown, passing under the grant upon its being resealed;