Tech chiefs lead UK exodus with nearly 6,000 entrepreneurs fleeing Britain in the past two years
Nearly 6,000 entrepreneurs fled the UK in the past two years – with the tech sector leading the way – in a blow to Keir Starmer’s ‘AI superpower’ ambitions.
Many headed for destinations such as Dubai as they escaped Labour’s punishing tax regime, according to analysis from wealth manager Rathbones.
It comes amid complaints that changes to Capital Gains Tax, the mansion tax on properties worth more than £2million, Inheritance Tax changes and VAT on private schools are all piling pressure on wealth creators.
The figures showed that 5,940 business owners left the UK between January 2024 and January 2026. The analysis showed that 10 per cent of those leaving were from the software sector, more than three times higher than the next most affected, property development.
The United Arab Emirates – which includes Dubai and Abu Dhabi – as well as Spain and the US were among popular destinations for business owners.
Michelle White, head of Rathbones’ private client office, said: ‘We are talking to more individuals and families – particularly younger business owners – considering relocation.’
Tax refugees: Nearly 6,000 entrepreneurs have fled the UK in the past two years with many headed for destinations such as Dubai as they escaped Labour’s punishing tax regime
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