Inheritance tax (IHT) receipts rose to £0.5bn in April, a £10m rise year-on-year.

Wealth manager and Financial Planner Tilney Smith & Williamson - soon to rebrand - said Assets Under Management fell by £1.9bn in the first quarter of this year, “reflecting more challenging recent market conditions.”

Tilney Smith & Williamson has added Capital Risk Management’s 10-strong team to its Edinburgh office for an undisclosed sum.

Wealth manager and Financial Planner Tilney Smith & Williamson has hired Neil Coxhead from Waystone to be the new head of its £10bn ACD (authorised corporate director) fund host and admin arm.