UK Money News
7th January 2008
Inheritance tax planning 'must start early'
It is very important that those likely to be liable for inheritance tax seek help with finance to address the situation as early as possible.
So claims Calculis, a firm of independent personal finance advisors, which states that while recent steps will have reduced the number of people likely to experience the tax, those who are still due to pay should look at their situation soon.
Alex Pegley, director for Calculis, said: "Starting early [is important], but also carrying on throughout."
He added that planning was an ongoing process that could not be addressed and then laid to rest.
"It's a case of building and adding and assessing things."
Inheritance tax is levied at a rate of 40 per cent on all property owned by an individual above a value of £300,000 - although in October the chancellor of the exchequer Alistair Darling raised the threshold for funds going to spouses or civil partners to £600,000.
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