Dan Neidle, who was quoted by the BBC's 'truth checking' unit, had criticised 'over-the-top coverage on the tax changes, but since said the Budget changes would hit farmers 'too hard'.

It means HMRC could raid people's pensions and claim as much as two-thirds.

A leading expert has also warned UK households could face delays in receiving pension cash, because unused retirement pots will have to be pushed through probate before being distributed.

Andy Wood from Tax Natives has warned that the reforms, expected to take effect from 2027, could pull an additional 38,500 estates into the inheritance tax net, leaving families with an average bill of £34,000 unless they take action now.

HMRC raked in an extra £31m from taxpayers it suspected of underpaying inheritance tax in 2023-24 compared to the previous year, according to official data revealed in a Freedom of Information request.

The Labour Party Chancellor announced in the Budget that unused pension funds and death benefits will be subject to inheritance tax (IHT) of 40 per cent. This change will be implemented from 6 April 2027. At the moment you can give a pension to your child tax-free.

The government is set to include pension savings as part of your estate, meaning more Brits could face inheritance tax bills - and experts have warned of the impact

The Institute for Fiscal Studies (IFS) suggested alterations to Chancellor Rachel Reeves ' action to prevent farmers feeling 'unfairly treated' by her Budget measures.

The Institute for Fiscal Studies suggests gifts of land before a certain date could be tax-free so that elderly farmers would not be caught out.