Accountancy and business advisory firm BDO is calling for the chancellor to publish a clear personal tax roadmap at the Budget to allow people to plan for their future with confidence and encourage the wealthy to relocate to, and remain in, the UK.
The call comes after figures from a new BDO survey reveal that policy stability is higher up the agenda for the internationally wealthy than tax rates when it comes to choosing a place to live.
Asked for key factors that would affect where they decided to live, 50% of the 200 wealthy respondents cited simplicity of tax law, and 49% cited tax consistency. That is significantly higher than the 37% who just wanted lower tax rates. The top-ranked factor was stability of government, cited by 55%.
When asked about their attitude to tax, only 4% described it as an unreasonable burden to be minimised as much as possible. The wealthy respondents largely viewed it as an obligation, and 41% went further, saying tax is a social responsibility to be paid in full, without avoidance.
Richard Montague, a BDO private wealth partner said:
“The political instability we’ve experienced in the UK in recent years and the constant changes we’ve seen to the tax regime have been unsettling, with many internationally mobile people choosing to relocate as a result.
“Our survey tells us very clearly that what people want is simplicity, stability and predictability. Instead, pre-Budget speculation is rife with stories about new wealth, exit taxes and property taxes and further tightening of the inheritance tax regime.
“At last year’s Budget, the chancellor published a roadmap for businesses aiming to give them a long-term view of the direction of travel for business taxes. At this year’s Budget, we see a strong case for providing a similar roadmap for the owners of those businesses and other wealthy individuals. This would allow people to plan for their future with confidence and hopefully convince more wealth creators to invest, spend and pay their taxes here.”
The survey on the UK wealthy and their wealth advisers was carried out by BDO in September 2025,with a major report on the findings scheduled to be published in early 2026.
