Wealthy Flee UK in Record Numbers After Non-Dom Tax Overhaul
24th June 2025
Britain is on track to lose a record 16,500 millionaires this year as tax increases and falling economic confidence drive wealthy residents abroad.
The exodus is part of a “historic wave of wealth migration”, with multiple countries competing for talent and capital, according to the latest Henley Private Wealth Migration Report. It says that a record 142,000 millionaires across the globe will relocate to a new country this year.
The study, which analyses migration trends among people with liquid assets of more than $1 million (£740,000), predicts that the UK will lose twice as many high net worth individuals as China and ten times as many as Russia in 2025.
Time to leave.