Inheritance tax receipts hit £1.2bn in April and May, a £100m rise year-on-year, according to figures released by HMRC this morning.

Wealth manager and platform Quilter says the ‘stronger nudge’ towards pensions guidance, introduced a year ago, has so far produced “lacklustre” results and needs to be beefed up.

Quilter Financial Planning has been praised for its handling of Lighthouse’s involvement in the British Steel Pension Scheme scandal by the FCA.

Quilter is cutting platform charges for new customers from June and existing customers in Q3 - and introducing tiered adviser charging.