Financial advice firms are seeing a surge in enquiries about inheritance tax, pensions and savings ahead of the Autumn Budget, according to The Personal Investment Management & Financial Advice Association (PIMFA).
PIMFA’s research shows that two thirds (66%) of member firms have seen an increase in enquiries about IHT and estate planning – more than for any other tax-related topic – while almost six in ten (58%) report increased demand in enquiries about pension taxation.
Three in ten firms (30%) reported an increase in enquiries about ISAs and savings, while more than a quarter (27%) say they have seen more clients asking about the prospect of a wealth tax.
The findings also suggest that Budget speculation is already influencing financial decisions. More than half (53%) of firms have seen clients bring forward planned gifts or family wealth transfers, while 44% report clients taking tax-free cash from their pensions. Meanwhile, 45% have seen clients increase or maximise ISA contributions and 40% report clients moving investments into tax-efficient wrappers.
The survey also highlights the demand for greater certainty over how savings, investments and family wealth will be taxed in the longer term. When asked which areas of personal taxation would benefit most from greater predictability and long-term clarity, 70% of firms selected IHT, closely followed by pension tax rules (69%) and ISA rules and allowances (62%). Capital Gains Tax was also highlighted by more than a third (37%).
PIMFA is has called for a pensions tax lock ahead of the Budget to end ongoing speculation about changes to pension taxation, including tax-free cash. It has also called for a longer-term personal investment tax roadmap, giving savers and investors greater clarity about how their money will be treated over time.
David Ostojitsch, Director of Government Relations and Policy at PIMFA, said: “These findings show that speculation about potential tax changes continues to have an impact. In line with previous Budget exercises, clients are seeking advice and bringing forward financial decisions before we know what the Budget will contain.
“Recent changes, including bringing unused pension funds into the scope of inheritance tax, have understandably left people concerned about what might come next. Ahead of each Budget, speculation about pensions, tax-free cash and inheritance tax can prompt people to make significant financial decisions simply to get ahead of changes that may never happen.
“We’ve seen from recent research that this can have real consequences, particularly for those without access to financial advice – without it, people have made irreversible decisions about their pension wealth on the back of idle speculation
“We want people to save and invest for the long term. But recognise that to do so, they need certainty about how their wealth will be treated as they build it, spend it and pass it on to their families.
“In the lead up to this Budget we called for a pensions tax lock: a clear commitment that the Government will not announce or consult on substantive changes to pensions taxation. This would not rule out future reform but would help prevent speculation driving rushed decisions. Alongside this, a longer-term roadmap for personal investment taxation would give people greater confidence to plan for their financial future.”
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Notes to Editors
About PIMFA PIMFA (the Personal Investment Management & Financial Advice Association) is the trade association for firms that provide wealth management, investment services, and financial advice and planning to everyone from individuals and families to charities, pension funds, trusts and companies.
The sector currently looks after £1.65 trillion in private savings and investments and employs over 63,000 people.
PIMFA represents both full and associate member firms. Full members provide a range of financial solutions, including wealth management, financial advice and planning, as well as investment and execution services. They assist everyone from individuals and families to charities, pension funds, trusts and companies. Associate members provide professional services to the PIMFA community.
PIMFA leads the debate on policy and regulatory recommendations to ensure that the UK remains a global centre of excellence in the wealth management, investment advice and financial planning arena. Our mission is to help create a UK culture of thriving financial health through constructive advocacy, fostering connections, and providing practical support.
PIMFA was established in 2017 as a result of the merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA), which has a history as a trade association dating back to 1991. Further information can be found at pimfa.co.uk
About PIMFA’s Regulatory Insights Tracker The Regulatory Insights Tracker is a series of regular surveys designed to capture member sentiment towards the regulatory landscape.
The findings are drawn from PIMFA’s latest Regulatory Insights Tracker. Data was collected from September to October 2026 from 73 member firms, including wealth managers, financial advisers and financial planners. Responses were anonymised and aggregated to provide a snapshot of industry-wide perspectives on current regulatory challenges.
The data provides a benchmark view of how firms are experiencing and responding to the current compliance environment. The results will inform PIMFA’s ongoing policy and advocacy work.