
Seven in 10 say VAT cut won’t ease cost of living pressures, poll finds
The Government plans to remove the 5% VAT charged on household electricity bills from 1st October 2026 for six months.

The Government plans to remove the 5% VAT charged on household electricity bills from 1st October 2026 for six months.

A quarter of UK adults say they are worried about their finances as economic growth forecasts are downgraded, while many who recognise they need advice have yet to seek it, according to Opinium research.

Three in five IFAs (58%) said clients have withdrawn money from pension lump sums amid speculation that the Chancellor may reform pension tax relief.

Two in five (40%) IFAs thought that easier access to personalised advice will lead more people to seek advice from them or their firm.

Research found that among advisers with a negative view, 42% said they did not trust cryptocurrencies and 34% did not think it was safe.

This is due to increased volatility within the market, with levels of uncertainty running high across the global economy.

The survey, carried out by Opinium conducted for Carr Consulting & Communications, examined how political instability can influence financial decisions.

Over a third (35%) of IFAs listed tax changes as one of the biggest challenges they’re facing at the moment.

9% of firms acquired other businesses as of December 2024.

Research revealed that IFAs currently feel divided as to whether AI will help or hinder their business and the industry.

Despite 82% of IFAs anticipating the proposals outlined in the Budget, nearly a fifth (19%) did not expect the announcements made.

12% of independent financial advisers (IFAs) anticipate their business will be in a worse state over the coming year
Press Esc to close.
