Growing numbers could be forced to file a self-assessment tax return every year to pay tax on dividends they have generated from shares they hold. For many it will come as a total shock.

Others may not realise they have have to declare the income and submit a return to HM Revenue & Customs. They could even face fines and penalties for failing to do so.

As Conservative chancellor, Hunt halved the tax-free dividend allowance from £2,000 to £1,000 from April 2023. Then he halved it again to…