Wealth creators ‘not feeling welcome’ in UK

The issue is no longer just “how do I reduce tax?” It is becoming, “is the UK still the right place to build the next chapter of my life?” That is a far bigger warning sign.

People who have built wealth are not allergic to tax. They understand public services need funding. What they cannot plan around is a constant feeling that every Budget may rewrite the rules: frozen thresholds, pension uncertainty, inheritance-tax changes and a wider message that wealth is something to raid rather than something to grow.

I am concerned because the loss is not just a tax return. When entrepreneurs, investors and retirees leave, the UK risks losing business investment, jobs, spending, philanthropy and future tax revenue.

Moving abroad is not a tax hack and should never be impulsive. Residency, family, pensions, property, healthcare and estate planning all need to work together. But Government should take this seriously: capital is mobile, and confidence leaves before people do.

I'm not seeing a flood of clients leaving the UK, but the conversation has undoubtedly become more common. Tax is rarely the only reason people relocate, yet recent changes to pensions, inheritance tax, and the non-dom regime have altered the calculation for some wealthy families. Once people begin to feel they are being targeted rather than simply taxed fairly, behaviour changes. That's a concern because those leaving often take investment, entrepreneurship, and future tax receipts with them. Policymakers need to balance raising revenue with maintaining the UK's attractiveness as a place to build and retain wealth.