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LATEST NEWS & EVENTS Increase to IHT interest 'emphasises importance of estate planning'  While increasing the interest paid on outstanding inheritance tax (IHT) is a move that "shouldn't ruffle any feathers", accord to Alex Pegley of Calculis, it is important that people think ahead when it comes to planning their taxes. The director of the financial advice firm said that the increase to three per cent interest on delayed IHT payments, which is due to take effect next month, should not cause problems for the people responsible for estate handling. However, the move has been labelled controversial by some campaigners, who claim it demonstrates a dependence on the tax system to address the government's budget deficit. Research carried out by Norwich Union earlier this year indicated that more needs to be done to highlight the importance of estate planning, especially where IHT is concerned. A study carried out by the group found that while it is recommended that people begin planning their estates at the same time they are thinking about retirement - usually between the ages of 55 and 65 - 40 per cent of people between 50 and 64 think they should wait until they are "a little older" before making such provisions. It also found that 21 per cent of people who are considered likely to have to pay IHT are not aware of this fact. IHT is charged on estates worth more than £325,000 - with anything over this threshold taxed at a rate of 40 per cent by HM Revenue and Customs. 
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