How many millionaires in the UK? What the sources count
There is no official register of individual UK millionaires. Private estimates and official household surveys count different populations.
Information only. Not tax, legal or financial advice.
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By Flight Risk Capital. Published: . Last updated: .
Why is there no single official count?
ONS measures household wealth and HMRC records tax populations. Neither is a current register of individual UK millionaires. Private estimates need their own definition and valuation date.
Why do millionaire estimates differ?
A sterling millionaire needs more wealth than a US-dollar millionaire at many exchange rates. Currency movements can move someone across a dollar threshold while their assets remain unchanged in pounds.
Assets matter too. A broad net-worth measure counts wealth after debts. An investable-wealth measure can leave out assets that are difficult to spend or invest. Housing, pensions and private businesses can therefore change who qualifies. A wealthy household is also a different unit from a wealthy adult.
Henley and UBS use different methods. Henley’s methodology describes its own population and estimates. Dividing a Henley departure estimate by a UBS population total can mix different groups and produce a misleading departure rate.
Does ONS publish a millionaire count?
ONS measures household wealth in Great Britain. Its bulletin covers April 2020 to March 2022 and was published in January 2025. It cannot supply a current total of individual UK millionaires: both the unit and geography differ.
The survey also has collection and accreditation limits, explained in the ONS source below. It remains evidence about household wealth, without becoming a register of wealthy residents. The Departures board separates these official series from private estimates.
Does HMRC count wealthy residents?
HMRC counted at least 81,900 non-domiciled and deemed-domiciled taxpayers for 2024-25. Those categories describe tax status. They do not cover every millionaire and can include people below a millionaire threshold.
The non dom guide explains the old categories and their replacement. A fall in that tax population can reflect a change of status as well as departure.
Does a falling millionaire total mean people left?
A fall can come from lower asset prices, higher debts or currency changes. A population estimate alone cannot tell those effects apart from emigration. The named leavers tracker records reported cases with their sources and status. Our method explains how those records differ from a national migration count.
Last updated: 25 October 2026.
Can private wealth reports fill the official count gap?
Henley's reports use estimates of a defined wealthy population. Tax Policy Associates has challenged the consistency and reliability of New World Wealth figures used in that reporting. The critique is evidence to assess, rather than a replacement official census.
Henley's June 2026 publication moved to a wealth mobility framework without a comparable single-year UK outflow forecast. It cannot extend the earlier annual estimates on a consistent basis. The UK millionaire count guide explains why wealth definitions change the population total too.
Can P85 forms or expired visas count emigrants?
P85 does not cover every reporting route. Self Assessment filers generally report through their return, and P85 is not restricted to wealthy people. The P85 guide explains what the form does.
The Home Office's Migrant journey 2025 report excludes departure analysis because of data quality. An expired visa is an administrative status that does not confirm departure.
What evidence would show the tax revenue effect?
A usable evaluation needs post-reform receipts and the affected population, including arrivals and continuing UK liabilities, compared with a stated alternative policy. Selected cases alone cannot settle that calculation.
See the Budget tracker for announcements and effective dates. The method page explains how this site distinguishes observations from forecast assumptions.
Last updated: 25 October 2026.
How many millionaires are leaving the UK?
No official count of millionaires leaving the UK exists. ONS does not classify headline emigrants by wealth (21 May 2026). The leavers tracker records named cases selected through public reporting.
A reliable national count would need a fixed wealth definition and comparable arrival and departure records. A gross outflow counts leavers; a net outflow subtracts arrivals. Mixing those measures can create a false comparison.
What do HMRC's non-dom statistics measure?
HMRC reported at least 81,900 non-domiciled and deemed-domiciled taxpayers for 2024-25 and £13.6 billion of combined Income Tax, Capital Gains Tax and National Insurance liabilities. Those are tax categories and liabilities from before the replacement regime.
A person can stop claiming a treatment without leaving Britain. The non dom guide explains the replacement. The old tax total cannot be priced as money already lost through departure.
What did the OBR assume about departures?
The OBR uses departure assumptions for defined tax groups in its non-dom costing. Forecast inputs are not observed departures.
What else do readers ask?
How many millionaires are there in the UK?
There is no official register of individual UK millionaires. Definitions, currencies and dates affect private estimates.
Is there an official UK millionaire register?
No. ONS surveys household wealth and HMRC records tax groups. Neither supplies a current register of individual UK millionaires.
Why do UBS and Henley millionaire numbers differ?
Their methods and wealth definitions differ. Check the currency, assets included and valuation date before comparing their totals.
Does a fall in millionaires prove emigration?
No. Asset prices, debts and exchange rates can change the total without anyone moving.
Where can I explore this further?
tax receipt tool. Full sourced leavers tracker. Articles and tracker roundups.
Sources
- Henley and Partners: Private Wealth Migration Report 2025 methodology, .
- Tax Policy Associates: Analysis of millionaire migration reporting, .
- Henley and Partners: Private Wealth Migration Report 2026, .
- UBS: Global Wealth Report collection, .
- Henley and Partners: London wealth estimates, .
- ONS: Household total wealth in Great Britain: April 2020 to March 2022, .
- HMRC: Statistical commentary on non-domiciled taxpayers in the UK, .
- ONS: Long-term international migration, provisional: year ending December 2025, .
- ONS: UK emigration explained: what we know about Brits moving abroad, .
- OBR: Non-domicile reforms: supplementary costing information, .
- OBR: Updates to the costing of reforms to the non-domicile regime, .
- Socio-Economic Review: Wealthy residents and migration interviews: July 2025 issue, .