Nearly One-Third of Britain’s Wealthy Consider Leaving Over Tax Concerns

Nearly one-third of wealthy people in the United Kingdom are considering leaving the country amid growing concerns over its tax system and declining confidence in the economy, according to a new survey.

The proportion of wealthy individuals who considered moving abroad over the past year has risen from 25 per cent to 30 per cent. Some are already preparing to relocate to other countries.

The findings were published in the Saltus Wealth Index, based on a survey of 2,000 UK adults with at least £250,000 in investable assets, excluding the value of their primary residences.

The report points to growing uncertainty among affluent individuals over Britain’s economic outlook and the potential impact of future tax changes on their wealth.

Confidence in the British economy has weakened significantly among wealthy respondents. The proportion expressing confidence in the economy fell from 66 per cent a year ago to 56 per cent in the latest survey.

Meanwhile, 40 per cent of respondents said potential changes to the tax system could pose a significant risk to their wealth in the future.

The findings suggest that concerns over taxation and economic stability are increasingly influencing decisions about where wealthy individuals choose to live, invest and conduct business.

Changes to Britain’s tax regime have emerged as a major factor behind the growing interest in relocation.

Previously, certain wealthy UK residents classified as non-domiciled, or “non-doms,” could benefit from special tax treatment on income earned overseas under the country’s non-domicile system.

The UK abolished the longstanding regime in April 2025, changing the rules governing the taxation of foreign income for affected individuals.

The reforms have prompted some wealthy families to reconsider their UK residency and explore moving their personal assets and business operations overseas.

UAE Emerges as an Attractive Destination
Among the alternative destinations being considered by wealthy Britons are the United Arab Emirates (UAE), Switzerland, Italy, Singapore and the United States.

The UAE has emerged as a particularly attractive option because it does not levy personal income tax. Its established financial centres, modern infrastructure, long-term residency opportunities and business-friendly environment have also helped attract international investors and affluent residents.

For individuals concerned about the impact of tax changes on their wealth, these factors may make the UAE an appealing alternative to the UK.

The survey highlights the potential implications of tax policy for Britain’s ability to retain wealthy residents and attract investment. However, considering a move does not necessarily mean that an individual will ultimately leave the country.

As the UK adjusts its tax framework, the balance between raising government revenue and maintaining an attractive environment for investment and wealth creation is likely to remain an important economic policy issue.