UK Probate and Estate Administration After Death: Step-by-Step Guide & Timeline

 UK Probate and Estate Administration After Death: Step-by-Step Guide & Timeline

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Step-by-Step Guide (English)

1. Register the Death

   • Must be done within 5 days (8 in Scotland).

   • Use the Tell Us Once service to notify government departments.

   • Inform banks and utilities — accounts are frozen until probate.

2. Locate the Will & Identify the Personal Representative

   • If a Will exists → Executors named handle the estate.

   • If no Will → Next of kin (often the offspring) applies to be Administrator.

3. Value the Estate

   • Collect details of all assets and debts.

   • Get valuations for items over £500.

4. Report to HMRC & Pay Inheritance Tax (IHT)

   • Use Form IHT400.

   • Pay IHT by end of the 6th month after death.

   • Some taxes must be paid before applying for probate (via Form IHT423).

5. Apply for Probate (Grant of Representation)

   • Apply online or by post.

   • Probate fee: £300 for estates over £5,000.

6. Administer the Estate

   • Once you have the grant, sell or transfer assets, pay debts, close accounts.

   • Post a statutory notice in The Gazette to guard against unknown claims.

7. Final Distribution

   • Prepare final estate accounts and distribute inheritance to beneficiaries.

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Timeline (Estimated Duration)

Stage	Estimated Time
Initial Administration & Valuation	4–8 weeks
HMRC Processing (IHT)	4–6 weeks
Waiting for Probate Grant	4–16 weeks
Collecting Assets & Paying Debts	2–6 months
Final Distribution to Heirs	1–3 months after probate granted
Total Duration	6–12 months (up to 24 for complex cases)

 

The Wealth Leveler: Why UK Fiscal Policy in 2025 Feels More "Socialistic" Than China

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The Argument: The UK's War on Capital Succession

Sir James Dyson’s recent outcry against the UK Chancellor’s changes to inheritance tax reveals a shift toward radical wealth redistribution. In 2025, the UK is implementing policies that make it mathematically impossible for large private family firms to remain independent across generations.

1. The "Double Taxation" Trap

As Dyson points out, a 20% inheritance tax on business assets is effectively a 40% tax burden. To pay the tax, heirs must take massive dividends from the company, which are themselves subject to high income tax rates. In a socialist framework, this ensures that large concentrations of private capital are "recycled" back into the state treasury rather than staying within a family bloodline.

2. Forced Liquidation vs. State Stability

The new UK policy forces family businesses to sell to external buyers (often private equity or foreign state-backed funds) to cover tax bills. Ironically, while the UK moves toward breaking up private estates, China in 2025 is increasingly protective of its "National Champions" and private family wealth, recognizing that "The First Generation" of entrepreneurs needs stability to prevent capital flight.

3. The Erosion of the Entrepreneurial Incentive

Socialism prioritizes collective benefit over individual legacy. By capping tax-free business assets at £2.5 million, the UK government is signaling that "too much success" belongs to the state. James Dyson argues this kills the "Spirit of the Engineer"—why build a global empire if the state forces its liquidation upon your death?

Conclusion: Sir James Dyson’s frustration reflects a new reality: for a global billionaire, the "Socialist" risk of asset liquidation is currently higher in London than in many parts of the developing world.

Feature	United Kingdom (2025)	China (2025)
Inheritance Tax	Aggressive (Capping private dynasty)	Minimal/Strategic (Encouraging investment)
Business Outlook	Redistributive (Focus on NICs/Death Tax)	Growth-Centric (Focus on stability/tech)
Socialist Logic	"Eat the Rich" to fund public services.	"Common Prosperity" but protect production.
核心邏輯	通過「吃大戶」來資助公共服務。	「共同富裕」但保護生產力穩定。