In 2020/21 61.3% of pension pots over £50,000 cashed in were withdrawn without financial advice, a rise from the 58.9% seen the previous year.

Capital Gains Tax receipts are forecast to more than double from £9.2bn in 2021/22 to £19.7bn in 2026/27, according to Government predictions.

A leading Financial Planner has warned that the Chancellor may choose to raise Capital Gains Tax (CGT) rates to align with Income Tax in order to raise cash in his budget to be delivered on 27 October.

Falling property prices could mean some families can reclaim a windfall of thousands of pounds in inheritance tax, a Chartered Financial Planner has predicted.