The average inheritance tax bill reached almost £200,000 in the last tax year - up £60,000 in five years, according to analysis of HMRC receipts by financial advice firm and insurer NFU Mutual.

An independent report commissioned by the government has suggested expanding the dormant assets scheme to include investment and wealth managers.

HMRC has won a £40m legal case against tax avoidance scheme promoter Hyrax Resourcing Ltd.

Female representation in financial firms is beginning to rise as the Treasury’s Women in Finance Charter begins to have an impact.