Financial Planners have warned that better planning is needed to help thousands avoid steadily rising Inheritance Tax bills as more estates are caught by the death tax.

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.

Latest HMRC figures show that £794m has been repaid to people overtaxed on flexible retirement withdrawals since the Pension Freedoms were introduced in 2015.

In his Autumn Budget today Chancellor Rishi Sunak warned MPs that inflation would likely average 4% over the next year.