The Conservatives are said to be considering raising post-death taxes to fund changes to social care provision, as they seek to tackle the effects of an ageing population.
Ahead of next week's manifesto launch, the party is exploring ways to make wealthier people contribute to rising social care costs after their death, through higher inheritance tax or other reforms, the FT reported.
This comes despite Chancellor Philip Hammond previously rejecting the introduction of a "death tax".
He seemed to rule out such a move in his spring Budget when he said: "For the avoidance of doubt, those options do not include, and never have included, a death tax."
However, senior Conservatives claim he was referring specifically to a Labour proposal to introduce a flat 10% social care levy on all estates, according to the FT.
Hammond already hinted at the change in approach last week when he declined to rule out higher taxes on those on higher incomes in the next parliament. "Our goal is to see the burden of tax on working people reduced as the economy grows," he said.
Prime Minister Theresa May's co-chief of staff and author of the Tory manifesto Nick Timothy is said to be drawing up a prospectus with the aim of appealing to working families.
According to a report in The Times the Tory manifesto could propose a guaranteed cap on total care costs of between £80,000 and £85,000, at an estimated cost to the Treasury of £2bn.
The manifesto is unlikely to specify exactly how the extra social care costs will be funded, referring the policy instead to a post-election review.
Stuart Adam, of the Institute for Fiscal Studies, told the FT the government would have a range of options if it wanted to raise money from inheritance tax, ranging from small tweaks to the system to a radical overhaul.
Minor changes could pare back reliefs for agricultural and business property and for gifts to charities. Another change could extend the seven-year period in which gifts of money to dependants can be made free of inheritance tax to 15 years or longer.
Adam told the FT the government could also consider abolishing the forgiveness of capital gains tax at death, for which there was "no rational basis".
Other options that have been suggested include levying a percentage charge on wealth at the point of the state pension age, which could be paid as a lump sum, in instalments, or at death.
Joining London team
Previously at Old Mutual Wealth
Will introduce a cap on cost of care
Inertia has become a key policy mechanism