Two in three (62%) advisers with clients who are trustees or have interests in trust are concerned that their clients could be risking HMRC fines, according to new research.

Inheritance tax (IHT) receipts rose 14% to £6.1bn in the 2021/22 tax year, the largest single-year rise since 2015/16.

The Chancellor has inadvertently gifted Financial Planners an almost unending stream of frazzled new clients by freezing the tax thresholds, if the latest HMRC data and some fresh predictions on the number of higher rate taxpayers are anything to go by.

The number of higher rate taxpayers has soared by nearly 2m to 6.14m since the last election and could soar by a further 3m by 2025, according to a former Pensions Minister.