Treasury targeting inheritance tax reforms to help plug UK deficit

Exclusive: Chancellor also looking at tweaks to capital gains tax to try to bridge 40bn-plus spending gap before budget

• Inheritance tax: how does it work and what may be changing?

The Treasury is looking at ways to raise more money from inheritance tax amid growing pressure on the country's finances ahead of the autumn budget, sources have told the Guardian.

Officials have been tasked with examining whether tightening rules on the gifting of money and assets could be one way of addressing a gap between revenue and spending that is estimated to reach more than 40bn.