In our latest client survey, we asked a snapshot of our clients how they feel about the Chancellor’s proposed tax changes, what they expect from the upcoming Autumn Budget, and how it all impacts their financial outlook.
The responses were striking. More than 81% of those surveyed believe taxes will rise further this autumn, with Income Tax, Capital Gains Tax, and Inheritance Tax all widely expected to come under pressure.
And for many, the impact of last year’s Budget is still being felt. Three-quarters (76%) told us the changes have made things worse, particularly the increase in National Insurance (NI) for employers and the increase in the minimum wage. Comments included:
- “They have damaged confidence for industry and commerce to invest.”
- “NI and minimum wages have severely blunted growth.”
- “Stop penalising people who have been careful and invested well.”
The Chancellor’s plan to include unused pension funds within Inheritance Tax from April 2027 provoked a particularly strong reaction. 66% said it was unfair and that they would actively change their behaviour to mitigate the tax. Several people mentioned drawing down earlier, gifting assets, or seeking new planning strategies.
There’s also a wider sense that those who have saved and invested wisely are being targeted. One respondent called it “economic madness” that stifles growth.
Yet amid these frustrations, there’s also resilience. When asked what clients would like to see happen to key taxes, 43% said “reduce”, 38% said “no change”, and just 10% favoured increases. Many people highlighted the need for stability, simplicity, and fairness in the system.
Karl Pemberton, Managing Director, said: “It’s no surprise our clients are concerned about further tax rises, especially after such a challenging year. Many clients feel the rules are changing too quickly and often in ways that punish savers and pensioners. What comes through strongly, though, is clients’ desire for stability and a fair approach.
“At Active Chartered Financial Planners, our role is to help our clients navigate this uncertainty with a clear plan. Tax policy will always shift with the political winds, but the principles of good financial planning remain constant: stay focused on your goals, review regularly, and take advice before reacting.
“We’re encouraged that nearly 95% of respondents said we were either ‘meeting or exceeding their expectations’. That tells us we’re building the right kind of relationships; ones that stand the test of time, even when the policy environment is difficult. Our commitment is to keep listening, keep guiding, and help you make the best decisions for your future.”
As we celebrate our 25th anniversary, we’ve seen governments come and go, taxes rise and fall, and markets fluctuate through crises and recoveries. The consistent lesson has been this: short-term uncertainty should never derail long-term planning.
If you would like to discuss how we can help with your financial planning journey, please get in touch:
Call: 01642 765957
Email info@activefp.co.uk
OR visit the website
And for regular updates, follow us or Facebook, LinkedIn, Instagram and YouTube
