A Third Of Brits Uncomfortable Talking About Money

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50 per cent say money feels like a taboo subject in the UK, and an estimated 2.8 million adults would rather “do anything” than talk about it
The impact is heightened during times of volatility as 29 per cent avoid conversations about finances even if it would help their situation
These perceptions form at an early age – 59 per cent say how they learned about money as children shaped their financial behaviours today
Achieving financial milestones in adulthood can overcome these barriers – paying off debt or starting to invest are shown to significantly boost long-term financial confidence
To support consumers navigate the current geopolitical climate, Barclays is sharing practical ways to strengthen financial confidence during uncertain times

New Barclays research shows that a long‑standing reluctance to talk about money continues to affect how confidently UK adults manage their household finances. While many avoid financial conversations – often reflecting attitudes shaped in childhood – there is growing recognition that being more open can make a real difference.

With six in 10 UK adults (59 per cent) are concerned about the potential impact of the conflict in the Middle East on their household finances, greater confidence and openness around financial challenges could help people feel better supported and more able to navigate periods of volatility.

Three in 10 (29 per cent) say they avoid talking about money even if they know it would help their situation, including four in 10 Gen Zs (39 per cent). Half of all adults (50 per cent) say it feels rude to discuss money, one in three (33 per cent) say talking about their finances makes them feel uncomfortable, and 5 per cent would rather “do anything” than talk about it, which equates to 2.8 million people.

Money norms form in childhood

Early experiences play a powerful role in shaping how comfortable we feel with money as adults. Analysis from Barclays’ and National Numeracy’s recent Nurturing number confidence report3 estimates that 2.1 million children in the UK have at least one parent with low number confidence, which shapes their relationship with numbers.

Nearly six in 10 (59 per cent) say the way they learned about money as children has shaped their financial behaviours today. Almost a third of adults (31 per cent) say the children they know are already thinking about the lifestyle they want in the future and what they will need to do to financially achieve it – underlining the necessity of early education and support.

The confidence to talk grows after positive financial moments

The research also shows that achieving positive milestones or life events, such as buying a house or career changes, consistently strengthen financial confidence and encourage people to open up. Half (53 per cent) of those who experienced a positive event say it made them more willing to talk about money. Paying off a major debt boosted confidence for 70 per cent of people, while 56 per cent reported the same after starting to invest.

Conversely, financial shocks, such as an unwanted reduction in working hours (44 per cent), a long-term illness or injury (43 per cent) and job loss or redundancy (41 per cent) are most frequently cited as having had a negative impact on financial confidence. Fraud concerns also persist, with 68 per cent saying that being scammed would significantly damage their confidence.

Vim Maru, Chief Executive of Barclays UK, said:

“Everyday conversations with friends and family can play an important role in shaping how we feel about our finances. Yet for many, a fear of judgement – or the sense that money is simply ‘not talked about’ – still holds them back."

“During periods of volatility, household finances can come under real pressure, but clear and accessible support can help people feel more confident navigating these challenges. Our research shows that when people feel able to talk about their money and seek support, they are likely to make more informed choices. Over time, these benefits are felt not just by individuals, but, by the wider economy too.”

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Jul 10, 2025
2 min read

Around one in five SMEs believe it will become more difficult to pay tax bills in the year ahead as business tax rises come into effect, new research from Premium Credit shows.

The study by the leading provider of finance for businesses found worries about paying tax bills are a long-standing issue for SMEs but the introduction of higher Employers’ National Insurance from April is ratcheting concerns higher.

Around 20% of SMEs – the equivalent of a million companies – worry paying tax bills will become more difficult in the year ahead due to tax rises while 28% believe that it is very or quite likely their firm will struggle to pay a tax bill in the next five years. More than one in five (21%) say it has become more difficult paying tax bills since the start of the cost of living crisis.

Currently one in 12 (8%) of the UK’s 5.487 million SMEs say they are struggling to pay tax bills unchanged from research last year which also found 8% were struggling. Around 47% of them say they are struggling to pay a VAT bill and 44% a Corporation Tax bill.

More than a third (35%) of those struggling say they will try to agree with HMRC to pay the bill over a longer period of time while 29% say they will take on more work to pay the bill and 27% will take out a loan.

The research found 15% of SMEs have struggled to pay tax bills in the past 10 years with 25% of them owing more than £50,000. A third (32%) said they agreed payment deals with HMRC while one in five (19%) laid off staff to afford the payment.

Jennie Hill, Chief Commercial Officer, Premium Credit (Specialist Finance) said: “Paying tax bills is a long-running issue for SMEs and the latest tax increases are expected to add further pressure."

“Of course firms should plan ahead and ensure they have money set aside to meet bills when they are due but cashflow issues can be a problem and owners will be focused on running their business effectively."

“Any company which is struggling should consider spreading the cost into convenient monthly payments to help them pay their tax on time and improve vital cashflow.”

Premium Credit’s Tax and VAT funding proposition, which allows companies and business owners to spread the cost of their VAT, corporation tax and self-assessment tax payments for up to a year, has seen the number of clients using its service more than double in the past two years.

More than one in three (34%) SMEs say they would consider such a scheme regardless of whether they struggle to pay their tax bills or not with a further 30% undecided. Research last year found 31% of SMEs would consider spreading tax bills over a year.

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A Third Of Brits Uncomfortable Talking About Money

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