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UK High-Net-Worth Confidence Plummets Amid Tax Fears

9/26/2025

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Summary

Story summary

Saltus Wealth Index: UK high-net-worth confidence fell from 84% to 66% after Labour took power.
78% expect higher taxes next year, notably Capital Gains Tax and Inheritance Tax.
Confidence rose to 48% in 2025 but remains below pre-Budget levels; Autumn Budget looms.
HNWIs protecting wealth review retirement savings and set up trusts; those with financial advice show higher confidence.

History

Historical Context

In 1974, the UK faced economic turmoil as inflation reached 24%, prompting tax reforms under the Labour government, which significantly increased capital gains tax rates. Today, high-net-worth individuals (HNWIs) are experiencing a similar decline in confidence, with expectations of higher taxes dropping from 84% to 66%, highlighting ongoing challenges in wealth management and economic stability in the UK.

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Story summary

Saltus Wealth Index: UK high-net-worth confidence fell from 84% to 66% after Labour took power.
78% expect higher taxes next year, notably Capital Gains Tax and Inheritance Tax.
Confidence rose to 48% in 2025 but remains below pre-Budget levels; Autumn Budget looms.
HNWIs protecting wealth review retirement savings and set up trusts; those with financial advice show higher confidence.

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