Uploaded April 2025 | Updated September 2026, 17 hours ago
For decades the UK was the global hub for millionaires. In 2022 the country was home to 23,076 Ultra High Networth Individuals.That's more than Japan, Italy and even Switzerland. This proved to be extremely lucrative for the UK…
The strategy was simple: Offer high-networth individuals beneficial tax agreements, attracting them to come and stay in the UK. In exchange the country would enjoy millions of pounds of extra investment from these individuals, while raising a healthy amount of extra tax money too.
For decades now, ultra wealthy people from around the world have helped the government balance their books. In 2024 the top 1% of UK earners alone paid over 29% of all income tax - allowing small businesses and working people to enjoy a relatively lower tax burden. But this could all be changing….
In the last year alone 12,000 millionaires left the UK - that's the second highest in the world.
TIMESTAMPS
00:00 - Start
03:41 - The Finance Bill
07:00 - Where are millionaires going?
11:52 - Where do we go from here?
14:30 - End
Want to learn more?
Click the link below to read our latest research!
adamsmith.org/research/wealth-exodus-stopping-non-dom-flight
For decades the UK was the global hub for millionaires. In 2022 the country was home to 23,076 Ultra High Networth Individuals.That's more than Japan, Italy and even Switzerland. This proved to be extremely lucrative for the UK…
The strategy was simple: Offer high-networth individuals beneficial tax agreements, attracting them to come and stay in the UK. In exchange the country would enjoy millions of pounds of extra investment from these individuals, while raising a healthy amount of extra tax money too.
For decades now, ultra wealthy people from around the world have helped the government balance their books. In 2024 the top 1% of UK earners alone paid over 29% of all income tax - allowing small businesses and working people to enjoy a relatively lower tax burden. But this could all be changing….
In the last year alone 12,000 millionaires left the UK - that's the second highest in the world.
TIMESTAMPS
00:00 - Start
03:41 - The Finance Bill
07:00 - Where are millionaires going?
11:52 - Where do we go from here?
14:30 - End
Want to learn more?
Click the link below to read our latest research!
adamsmith.org/research/wealth-exodus-stopping-non-dom-flight
