Britain faces a sharp escalation in the outflow of wealthy individuals, with the number of high-net-worth people relocating from the UK in 2026 "potentially doubling" compared with recent years, according to deVere Group, one of the worlds largest independent financial advisory firms.

Nigel Green, deVeres chief executive, said advisers across major financial centres had seen a sustained rise in enquiries from UK-based clients exploring relocation options, alternative residency programmes and cross-border wealth structures. "Were not guessing. Were watching behaviour change," he said, noting that enquiries about leaving the UK picked up strongly at the end of last year and "have not slowed".

Tax overhaul drives reassessment of the UK

The acceleration in wealth migration reflects a build-up of pressures that, according to deVere, is reshaping how Britain is assessed by internationally mobile families, entrepreneurs and executives. Recent tax changes, including measures confirmed in the 2025 Budget, have materially altered the UKs competitive appeal for high-net-worth individuals.

Key policy shifts cited include the end of the UKs long-standing non-domiciled (non-dom) tax regime, higher capital gains and inheritance tax burdens, and an expansion of worldwide income taxation for long-term residents. These moves have coincided with wider concerns among wealthy clients over regulatory burdens, economic direction and broader quality-of-life factors.

For internationally mobile investors, Green argued, these changes have pushed strategic relocation planning "to the centre of decision-making". When families and business owners begin asking how to leave rather than whether to leave, "intent becomes clear", he said, adding that such conversations are now taking place "every day" with advisers.

Risk to the UKs status as a wealth hub

The warning comes as policymakers seek to balance fiscal pressures with efforts to maintain the UKs attractiveness as a global financial centre. High-net-worth individuals typically contribute disproportionately to tax receipts, investment flows, philanthropy and early-stage business funding.

Economists and wealth managers have long cautioned that the UKs ability to attract and retain internationally mobile capital depends not only on headline tax rates but also on long-term predictability, legal stability and the depth of its financial markets. Greens comments suggest that, for a growing cohort of affluent households, the perceived trade-off is shifting away from Britain in favour of jurisdictions offering greater clarity, tax efficiency and a stronger sense of long-term policy commitment.

DeVere, which serves more than 80,000 clients and has around $14bn under advisement globally, said the current trend is broader than short-term tax arbitrage and reflects a structural re-evaluation of where wealthy families want to base their lives and assets. The firm did not name specific destination countries in its warning, but international advisory groups typically see strong interest in European financial centres, the Gulf, and certain low-tax jurisdictions in the Caribbean and Asia.

Implications for investment and entrepreneurship

A doubling of outward wealth migration would raise questions over the medium-term resilience of the UKs tax base and its ecosystem for high-growth companies. High-net-worth investors are often key backers of venture capital, private equity and angel financing, particularly in technology, life sciences and green innovation.

Advisers say that as more entrepreneurs and senior executives consider relocating, business owners may also re-examine where they incorporate companies, list shares, and book investment gains. If wealth and decision-making increasingly shift offshore, some analysts fear a gradual erosion of Londons role as the default hub for European capital raising.

Supporters of the recent tax changes argue that tightening rules on non-doms and high earners enhances fairness and broadens the tax base at a time of stretched public finances. However, the scale of behavioural change outlined by deVere adds to pressure on the government to provide greater long-term certainty on personal tax policy and to articulate a clearer growth and competitiveness strategy.

Calls for clarity and stability

Green framed the current moment as part of a broader global shift in how affluent families plan their futures, saying that "international mobility now sits at the centre of financial planning" as investors seek environments that offer "clarity, tax efficiency, ambition and long-term confidence".

Wealth managers say that even if not all clients who explore relocation ultimately leave, the surge in enquiries shows that confidence has been shaken. The coming months will be closely watched by the advisory industry and policymakers alike as an indicator of whether the UK can stabilise its position as a destination for global wealth, or whether an accelerating exodus will become a defining economic challenge of the year ahead.