More than nine in 10 financial advisers (92%) have seen a rise in enquiries about inheritance tax in the run-up to the Budget on 26 November, according to a new report.
Over one in ten (12%) told investment manager Downing that they have seen a substantial increase in IHT enquiries from clients.
Chancellor Rachel Reeves has announced plans to levy Inheritance Tax on unused pensions from April 2027.
Eight in ten (80%) of advisers surveyed said the proportion of their business accounted for by IHT advice has risen in the past year, with 13% saying it has increased substantially.
The demand was coming from new clients (38%), existing clients (27%) and a mix of new and existing clients and families (35%).
Those questioned expected demand to continue to expand, with more than four out of five (81%) saying IHT planning and advice will make up 20% or more of their business in three years.
The advisers also expect the proportion of clients with potential IHT liabilities to also continue to grow. Currently 83% of advisers estimated that up to 30% of their clients have an IHT liability, with (17%) estimating 30% to 40% have a potential IHT issue.
Three in five (56%) of financial advisers have seen demand rise for intergenerational wealth management since the government announced plans to impose inheritance tax on pensions, according to a separate new report.
One in three (28%) of the advisers surveyed by Flagstone say that demand has risen to an extent that intergenerational wealth planning has become a service offering in its own right.
Two in five (37%) advisers said they are also seeing more new business opportunities emerge with families of existing clients rather than new individuals.
Alex Schlee, senior partnerships manager at Flagstone, said: “We know that savers are already changing their behaviour because of inheritance tax fears and our polling demonstrates the knock-on effect this action is having on advisers.
“A majority of UK financial advisers are having to quickly adapt to how they work not only for individuals but for numerous members of the same family, as these families get to grips with how wealth will be passed down through the generations.”
• Flagstone surveyed 127 financial advisers in July 2025.