Oral Answers to Questions

Lord Bellingham Excerpts

Tuesday 18th April 2017 Commons Chamber

[Mr Philip Hammond]

We are very keen on employees having an opportunity to take a stake in the businesses for which they work. We will look carefully at any proposals that would tend to enhance productivity by incentivising and encouraging employees.

[Sir Henry Bellingham (North West Norfolk) (Con)]

T5. Given the large proposed increase in probate fees, and bearing in mind that deceased people’s bank accounts are frozen, will the Chancellor or the Chief Secretary look at allowing the fees to be paid after probate has been granted and the estate has been wound up?

[Jane Ellison]

In most cases, the Ministry of Justice expects that banks will be able to release enough cash from the estate to pay the probate fee, and we know from HMRC that the average estate is 25% cash. The MOJ is working with the British Bankers Association and others to put arrangements in place.