Financial Planners have mostly reacted with relief to the Budget but many have predicted the numerous taxation changes will fuel demand for advice.

The Chancellor is planning to increase the amount of money the Treasury raises from inheritance tax (IHT) in its upcoming Budget, according to reports.

Rumours of a tax rise in the Budget have encouraged 16% of people to consider raiding their pension pots for tax-free cash, according to new research.

Quilter Financial Planning expert Rachael Griffin has warned that a rumoured near doubling of the Capital Gains Tax to 39% in the Budget could alter investor behaviour. 

Chancellor Rachel Reeves is likely to take a close look at pension tax relief as she looks at ways to raise money for the Treasury in her first Budget next month, consultants LCP have warned.