High net worth individuals in the UK are increasingly weighing relocation as tax uncertainty, economic concerns and lifestyle factors shape their decisions, according to reports published on October 14, 2026.
Surveys of wealthy residents and their advisers point to growing interest in leaving, with Europe, the UAE and the United States among preferred destinations.
Confidence Falls as Exit Interest Rises
The Saltus Wealth Index Report found that 30 percent of UK high net worth individuals would consider leaving the country.
That figure includes 8 percent actively exploring a permanent move within the next 12 months.
Among those with net worth of at least £5 million, 15 percent were actively considering departure.
Saltus reported that personal reasons led among potential movers at 35 percent, followed by financial concerns at 31 percent, political reasons at 19 percent and cultural reasons at 15 percent.
Confidence among HNWIs fell to 56 percent from 66 percent a year earlier, the report found.
UK political debate has also focused on wealthy departures, with Kemi Badenoch saying the "super wealthy… have all gone" in remarks cited by City A.
M.
City A. M.
reported that Britain lost around 1,600 millionaires in 2022 and an estimated 16,500 in 2025.
The publication also cited analysis indicating ultra-wealthy individuals with about £121 billion in wealth had left Britain since Labour came to power in 2024.
Tax advisers surveyed by Spear's examined the impact of changes to the non-dom regime.
Around 30 percent of advisers believed more than 25 percent of former non-doms left the UK during the 2025-26 tax year, although official figures are expected later.
Daniel Channing, group head of private client services at Whitmill, said "Many simply couldn't move or relocate immediately following the non-dom changes".
Channing also described wealthy individuals as forming a "queue" to leave, as businesses, education arrangements and personal affairs delayed possible relocations.
Andrew Sams of Hundle said "Italy and the UAE have favourable tax regimes, but the decision between the two tends to come down to whether clients are still actively running businesses".
James Ward of Kingsley Napley said the UAE offers a "simple tax solution, easier visa entry than most countries, warm weather, business opportunities, and closer access to Asian and Indian markets".
Survey responses showed the UAE was the preferred relocation destination for 36 percent of advisers in the Spear's Tax Survey, followed by Italy at 21 percent and Portugal at 15 percent.
Matthew Gamman of Cone Marshall said "Once individuals begin to fear that the window for an orderly departure may close, the rational response is to leave sooner and preserve as much capital and flexibility as possible".
Gamman added, "The threat of closing the door does not necessarily keep people in the room, it may simply persuade them to leave before it shuts."
Other advisers warned against policies they believe could reduce investment appeal.
Matthew Radcliffe of Russell-Cooke referred to "headline-grabbing taxes that risk driving investment or talent elsewhere".
Catrin Wigley of Hugh James said "The concern is the cumulative effect of successive changes on business ownership, succession planning, family wealth and long-term certainty".
Richard Jordan of Trowers & Hamlins said "When the CGT and IHT boon ends from those divesting their wealth, the numbers from 2027 onwards will start to look increasingly disappointing".
Jordan also said, "One could instead merely tweak around the edges – remove reliefs and nudge up rates … become known as tinkerers rather than shoot-from-the-hip populist economics."
David Lesperance of Lesperance & Associates said "Treating the golden geese like a captive audience only gets them to consider flying away."
