Businesses are to get an extra year to prepare for the digitalisation of income tax, HM Revenue and Customs has said.

More than 11.6m people have received an inheritance in the past 10 years with 47 the average age at which people receive a windfall, new research has revealed.

Savers looking to transfer their pension have been offered the opportunity to avoid the normal minimum pension age increase in 2028 under new draft legislation proposed by HMRC.

The latest data from HMRC reveals an “astonishing” 40% of high earners failed to take out an ISA in the 2018/19 tax year.