Proposed tax changes drive concern while fears over geopolitics ease
interactive investor shares the findings from its latest investor sentiment poll.
6th July 2026 10:30
Retail investors are refusing to let global uncertainty knock them off course, continuing to back long-term investing, reveals interactive investor’s latest retail investor sentiment poll*. This is a snap poll, and the results are illustrative of what is top of retail investors’ minds.
The results suggest retail investors are becoming increasingly resilient to market uncertainty, continuing to invest for the long term despite a backdrop of geopolitical conflict, tax changes, and economic uncertainty.
- Invest with ii: Open a Stocks & Shares ISA | ISA Investment Ideas | Transfer a Stocks & Shares ISA
Almost half (46%) of investors polled say they are investing the same amount this year as last year, and almost one in four (24%) say they are investing even more, as investors are becoming increasingly disciplined - choosing to stick to long-term plans rather than reacting to short-term headlines.
Investors are becoming more confident at tuning out the noise
More than a quarter (27%) cited geopolitical tensions as the biggest threat to their investments, down from 44% six months ago**.
A further 26% specifically highlighted the conflict in the Middle East. Rising inflation (16%) and concerns about the UK economy (14%) followed behind.
Only 3% cited trade/tariff wars as the biggest threat to their investments - down from 45% this time last year***.
Given 70% of investors are currently investing the same amount of money as last year or more, we can see that many are sticking with their long-term strategies rather than retreating due to the noise.
Camilla Esmund, Head of Investor Campaigns at interactive investor, says: “Perhaps the most encouraging finding from this research isn’t what investors are worried about - it’s how they’re responding.
“The past decade has tested investors in almost every imaginable way. We’ve experienced Brexit, a global pandemic, soaring inflation, higher interest rates and renewed geopolitical tensions. Yet, investors increasingly recognise that uncertainty isn’t an occasional event - it’s part of the investment journey.
“Our latest poll suggests retail investors are becoming more confident at separating the news cycle from their long-term financial plans. Rather than trying to predict every market movement, they’re staying invested, continuing to build wealth, and focusing on the things they can actually control.
“That’s a really positive shift. Investing has always rewarded patience more than prediction. This is why we continue to see consistently strong performance from interactive investor customers.”
Investor focus shifts to the US
When it comes to regions, interest in the US has grown by 5% in the last six months - with 22% of investors looking to invest in the region versus 17% in January.
The US is also the home to many big technology and AI players, and when asked about asset classes, 13% of investors are most interested in AI & Technology stocks - above the likes of fixed income (12%), commodities (10%), and alternatives (4%).
Interest in the UK has stayed consistent at 37%, but Europe has slightly lowered, down to 13% from 16% six months ago. Interest in Asia stayed the same at 13%, along with emerging markets at 12%.
The impact of ISA reform and tax changes
While recent government announcements have centred on changes to cash ISAs and investment ISA rules, just 7% said changes to ISA subscription limits would encourage them to invest more in UK-listed stocks.
However, following the recent announcement of a new 22% charge on interest earned on cash held within investment ISAs from April 2027, the research suggests investors are becoming increasingly focused on the impact of tax changes on their long-term financial plans.
When asked about their biggest investment-related tax concerns:
- 28% said they were concerned about all of the proposed tax changes
- 22% cited pensions being brought into inheritance tax from April 2027
- 19% pointed to frozen tax thresholds.
Esmund comments: “The latest ISA announcements reinforce just how quickly the investment landscape is evolving. While individual policy changes will naturally grab the headlines, our research suggests investors are taking a broader view of tax planning and thinking more carefully about how changes could affect their long-term financial plans.
“Rather than reacting to every announcement in isolation, it’s important to step back and focus on the fundamentals. Making full use of tax-efficient wrappers such as ISAs and pensions, reviewing your plans regularly and ensuring your money is working as hard as possible are all sensible steps, regardless of how the tax landscape evolves.”
The poll was conducted with 1,041 respondents on the interactive investor website in June 2026.
**Poll conducted with 1,005 respondents on the interactive investor website in January 2026.
***Poll conducted with 916 respondents on the interactive investor website in June 2025.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.
Important information: Please remember, investment values can go up or down and you could get back less than you invest. If you’re in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of the product you should contact HMRC or seek independent tax advice.