New figures published today by HMRC have revealed that inheritance tax receipts for 2023/24 climbed £400m to a new record £7.5bn.

Around 12m State Pensioners will be more than £800 a year better off from 6 April but the extra cash could push many into a tax-paying bracket for the first time, experts have warned.

Financial advisers have called on the Government to prioritise pension reforms that would lessen the tax burden on clients.

Chancellor Jeremy Hunt has announced a cut to employees’ National Insurance from 10% to 8% from April as one of a raft of measures announced in his Spring Budget today.