Chancellor Rachel Reeves is reportedly planning to launch an inheritance tax raid in the Budget, potentially by changing the key thresholds or other reliefs.

Labour is targeting pensions, capital gains and inheritances in its Autumn Budget on October 30, but it won't stop there.

If CGT rises, we expect this to be paired with a possible increase in the Business Asset Disposal Relief (BADR) when selling a trading business. Dividend tax rates could also rise as we are now broadly aligned with standard rates of income tax, with the basic rate band being the obvious exception.