There were 862,000 additional rate taxpayers last year - more than three and a half times as many as the year the rate was introduced.

The latest HMRC inheritance tax receipts published today have revealed that £5.7bn was collected in the first three quarters of the 2023/24 financial year.

The UK’s high earners are facing a retirement shock with less than a third on track for a financially comfortable lifestyle when they retire, according to new research.

Retirement resilience has dipped and is expected to fall further during 2024 as house prices continue to fall and asset values fail to rise in line with inflation.