Budget uncertainty fuels surge in pension and CGT client calls

Budget speech set for 30 October with tax changes likely

Jenna Brown
clock • 2 min read

Advisers are dealing with a surge in demand ahead of the 30 October Budget speech with potential changes to pensions and capital gains tax (CGT) fueling client anxiety.

Research from provider AJ Bell found that 99% of advisers had been approached by clients who had questions about potential fallout from chancellor Rachel Reeves' speech. Speculation about changes to inheritance tax (IHT), CGT, pensions tax relief and tax-free lump sums has ratcheted up leading to increased concern among advised clients. Some 33% of advisers who took part in the firm's online poll between 30 September and 2 October said clients had contacted them over tax-free cash while 16% had enquiries about increasing pension contributions. More than a quarter, 27%, had been con...

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