Taxfix CEO Urges UK Millionaires to Stay as 2% Wealth Tax Spurs Exit Plans

1 articles · Updated · Fortune · Jul 29

Martin Ott said some wealthy UK-based Taxfix clients are already considering moving abroad to cut taxes, but he is urging them to remain and keep investing in Britain.
A proposed 2% levy on wealth above £10 million, alongside high taxes and persistent inflation, has revived fears that Labour-era policy will accelerate departures of entrepreneurs and top earners.
Henley’s 2025 report said 16,500 millionaires left the UK last year—more than any other country—taking about $91.8 billion and contributing to a 9% drop in the millionaire population over a decade.
Ott argued an exodus would deepen brain drain and weaken the startup ecosystem, saying wealthy founders have a social responsibility to build through downturns rather than decamp to hubs such as Dubai or Montenegro.