Inheritance tax warning issued by financial services provider

Fri, 04 May 2007

Rich people are not the only ones who may qualify for inheritance tax liability, it has been claimed.

On May 16th 2007, financial services provider Edward Jones plans to hold a free financing event in Exeter to educate local people about the death tax and how they can minimise the amount they must pay to the taxman.

Currently, the inheritance tax threshold stands at £300,000, meaning anybody with an estate worth more than this figure must pay tax of 40 per cent on the excess.

Alan Stone, financial adviser and stockbroker with Edward Jones, has pointed out that some people may unwittingly exceed the threshold when all their worldly possessions are collected together.

"Many people don't realise how much their estate can amount to once everything is taken into account - house, car, possessions, business interests, savings, shares, jewellery and so on," he said.

Edward Jones is an investments firm that operates from the US and Canada as well as its office in Canary Wharf, London.

It claims to have developed investments relationships with approximately seven million clients in total.

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