Tax, especially inheritance tax (IHT), is forcing clients to consider relocating, according to Blevins Franks CEO James Roberts. However, not all advisers are convinced that a mass exodus of wealth is occurring due to UK tax policies.
Tax is becoming a larger motivator in adviser clients' decision to move away from the UK, Roberts told PA. Last month economic think tank the Adam Smith Institute revealed the number of millionaires in Britain reached its lowest level since 2008. The number of millionaires dropped to 442,000, a 7% decrease compared to 2024, according to the think tank. Blevins Franks has seen increased interest from clients wanting to move out of the UK since Roberts took on his role in October 2025. Last year, the firm recorded 13,000 inquiries and the firm is on track for 20,000 this year. ...
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