Financial Life Planning · Tax Planning
Would you move countries to pay less tax?

By Robert Wilcocks, Founder, Quantum Life
CISI Level 6 Advanced Financial Planning · Registered Life Planner®
Published · Updated
In short
Moving countries can reduce tax significantly, but leaving the UK does not automatically end UK tax residence, and since April 2025 overseas assets can stay within UK Inheritance Tax for up to ten tax years after you leave. Decide where you actually want to live first, then model what staying would cost and what leaving would save.
Let’s dive into this topical question, as the UK loses hundreds of millions in tax revenue from a billionaire leaver.
I read this morning that billionaire hedge fund manager Chris Rokos is moving his tax residence from the UK to Greece.
I get it. Who doesn’t love sunshine, saganaki and Santorini sunsets?
But Rokos certainly isn’t the first wealthy person reported to be leaving Britain following recent tax changes. And whenever another one of these stories appears, I know many others consider leaving too.
It really begs the question: where do you actually want to live?

Tax matters. Significantly. If you have substantial income, investments, a business or assets in several countries, where you live can make a very significant difference to what you pay.
But I’d be very wary of letting the tax tail wag the life dog.
Moving country purely because the spreadsheet tells you to can be a very expensive way of discovering that you actually quite liked your old life.
So, before you start browsing villas in Mykonos, I’d think about three things.
1.Work out what moving actually changes
Leaving Britain doesn’t automatically mean you stop being UK tax resident.
The UK’s Statutory Residence Test looks at things including how much time you spend here, where you have homes and your connections with the UK. The famous 183-day rule is only part of the picture.
If tax is part of your reason for moving, get proper advice and establish exactly what your position would be first.
2.Don’t forget inheritance tax
This is particularly important since the rules changed in April 2025.
The UK moved from a domicile-based system towards one based on residence. Broadly, if you’ve been UK resident for at least 10 of the previous 20 tax years, your overseas assets can remain within the UK inheritance tax net for a period after you leave.
Depending on your circumstances, that can last for up to ten tax years.
In other words, packing your bags on Monday doesn’t necessarily switch everything off on Tuesday.
3.Work out what you’re moving towards, not just what you’re moving away from
This is the bit I think gets lost in all the headlines.
Where are your family and friends?
Where do your children live?
What about healthcare, schools, property, your business and how often you want to come back?
And one fairly fundamental question: do you actually want to live there?
Wealth should give you more freedom to choose the life you want, not force you to organise your life around the tax system.
I’m all for sensible tax planning. Nobody wants to pay more tax than they need to.
But wealth should give you more freedom to choose the life you want, not force you to organise your life around the tax system.
At Quantum Life, we’d model both sides. What staying might cost. What leaving could save. And what each choice means for everything else you want your money to make possible.
Then make the life decision.
And if that happens to involve sunshine, saganaki and Santorini sunsets… let me know when I can visit.
Rob
Frequently asked questions
Does leaving the UK mean I stop being UK tax resident?
Not automatically. The Statutory Residence Test looks at factors including how much time you spend in the UK, where you have homes and your UK connections. The 183-day rule is only part of the picture, so establish your position with proper advice first.
Does UK Inheritance Tax still apply after I move abroad?
It can. Since April 2025 the UK uses a residence-based system. Broadly, if you have been UK resident for at least 10 of the previous 20 tax years, your overseas assets can remain within UK Inheritance Tax for up to ten tax years after you leave, depending on your circumstances.
What should I consider besides tax before moving countries?
Where your family and friends are, where your children live, healthcare, schools, property, your business and how often you want to come back. Above all, whether you actually want to live there.