The ultra-wealthy are leaving Britain in their droves as a result of the Labour government’s tax rises. The nation’s business secretary admitted that he’s worried billionaires, entrepreneurs, and even doctors have left the country ahead of Rachel Reeves’ Budget. But it’s not just an abstract concern—it’s already happening.

The CEO of Taxfix, the Berlin-based tax app valued at more than $1 billion, Martin Ott, exclusively told Fortune that some of its wealthy U.K.-based clients are eyeing an exit—but he doesn’t recommend it.

“Yes, there are certain customers, at a certain income bracket, that are moving to save money abroad,” Ott, a former Meta exec , said. “I always encourage people to stay where you are.”

‘You have a social responsibility to invest in your country’

In 2025, more

See Full Page