Six in 10 UK millionaires have considered leaving Britain because of high taxes, according to research that comes amid reports hedge fund billionaire Chris Rokos is relocating his tax residency to Greece.
A survey of more than 300 millionaire clients of investment platform Wealth Club, with average wealth of £4.5 million, found 61% had considered becoming non-UK tax resident. However, only 16% said they were actively considering leaving, while 36% said they had never thought about it.
The research found most respondents had built their own wealth, with 40% earning it through employment and 33% through investments. Just 12% made most of their money from starting a business, and 2% cited inheritance as their main source of wealth.
Almost all those surveyed (97%) believe taxes will rise over the next year, with inheritance tax, wealth taxes and capital gains tax the biggest concerns ahead of the Budget.
Reports suggest Rokos, founder of Rokos Capital Management, is moving to Greece, which charges non-doms a flat €100,000 (£85,000) annual fee for up to 15 years. Rokos, who paid £330m in tax last year, saw his firm report revenues of £1.23 billion in 2025.
Alex Davies, founder and CEO of Wealth Club, said: “Almost all the investors we surveyed built their wealth themselves. Every tax rise that makes Britain less attractive to save and invest risks encouraging wealth creators to look elsewhere.”