Over half of advised clients more worried about tax than a year ago, finds Wealthtime

New research from Wealthtime, the adviser platform business, reveals that tax anxiety is rising among advised clients, driven by confusion over rules and allowances.

The survey, conducted by Ad Lucem in January 2026 among 1,000 UK adults aged 35+ with average investable assets of £350,000, provides critical insights into the behaviours, concerns and preferences of people navigating tax year end planning. It found that more than half (53%) of those who have used financial advice in the last three years feel more worried about tax now than a year ago. Almost half (47%) report that tax rules and allowances are a major source of uncertainty, while 30% admit they are confused about pension rules.

Last-minute tax decisions are common. Over half (52%) completed most of their tax year end activity in March or April last year, with a quarter (24%) leaving it to the final week. The biggest barriers to acting sooner were lack of time (28%), fear of making the wrong choice (27%) and uncertainty about what to prioritise (21%).

Tax year end regret is widespread. Three-quarters (74%) report at least one regret, most commonly leaving decisions too late (27%), missing an allowance (23%) and keeping too much money in cash (18%).

The research also found that confidence in tax year end planning is subdued, averaging just 45.7/100 on the Tax Year End Confidence Index. The Index measures how worried respondents feel about a range of tax year-end concerns, including making a mistake, missing allowances, not having the right information and not understanding the rules. Those currently working with a financial adviser score higher, at 48 compared with 41 for those no longer taking advice. In addition, only 20% of currently advised clients fall into the low confidence category (an Index score of 40 or below), compared to 45% of previously advised clients.

Kylie Clark, CX Director at Wealthtime, comments: “Tax year end is becoming increasingly stressful for investors. Changing rules and allowances mean even financially engaged clients can feel unsure about what action to take and when. What’s clear from our research is that ongoing advice makes a measurable difference. Those working with an adviser feel more confident, more informed and more in control, highlighting the value of an ongoing advice relationship at this critical time of year.”  

Phillip Wickenden, founder of Ad Lucem, who led the research, said: “What stands out isn’t that clients are complacent, it’s that they’re cautious. And caution, left unmanaged, looks a lot like procrastination. The data consistently shows that reassurance and structure beat urgency-based messaging. Advisers who start earlier, simplify priorities and remove admin friction will convert that anxiety into action.”