HMRC has said that it intends to issue a second set of regulations changing the legislation governing the lifetime allowance abolition.

In the 2020/21 tax year the number of estates paying inheritance tax rose 17% year-on-year with pandemic deaths a factor in the growth, according to data released today by HMRC.

Capital Gains Tax (CGT) receipts rose 43% to £14.3bn for the 2020/21 tax year, according to data from HMRC this morning.

Almost 50 financial advisers have said that removing emergency tax on income drawdown payments would top their wish list for simplifying pension planning.