Prime Minister Boris Johnson is considering increasing National Insurance to fund a long-term reform of social care, according to reports released this morning.

HMRC collected £5.33bn from inheritance tax in the 2020/21 tax year, a rise from £5.12bn in 2019/20.

The number of inheritance tax reclaims reached a six-year peak in 2020 as more families reclaimed overpaid tax following a fall in the value of property or shares.

Cohabiting unmarried couples are in danger of overpaying tax by thousands of pounds, a Chartered Financial Planner has warned.