The social contract in numbers
Top 1% share of Income Tax liabilities: 26.6% (2026-27).
HMRC Income Tax liabilities statistics, Tables 2.1 to 2.6, 15 July 2026.
Data
Official numbers, fiscal context and data explainers, with sources, dates and limits.
Departure figures and fiscal context
UK emigration statistics: departures board
246,000 British nationals left in the year ending December 2025.
ONS, Long-term international migration, provisional: year ending December 2025, 21 May 2026.
Budget 2026 tracker
2026-27: personal allowance £12,570; higher-rate threshold £50,270; additional rate above £125,140 in England, Wales and Northern Ireland. Scotland has separate bands.
GOV.UK: Income Tax rates and allowances, 25 October 2026.
How many
How many billionaires are in the UK?
The Sunday Times counted 157 in May 2026; Katadata reported a Forbes UK count of 56 on 25 January 2026. The lists measure different groups, not just current UK residents.
Sky News, reporting The Sunday Times, 15 May 2026.
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.
Tax Policy Associates, 27 July 2025.
Who pays income tax in the UK?
In 2023-24, the top 1% of UK Income Tax payers paid 27.2% of the total, the top 10% paid 59.1% and the top 50% paid 90.1%, according to HMRC.
HMRC, 15 July 2026.
Tax and leaving
Do high earners leave when taxes rise? The evidence
10% to 12% more likely to leave: HMRC relative estimates for affected condition B taxpayers, not percentage point increases.
HMRC, Evaluation of the 2017 change to UK Deemed domicile policy, 30 October 2024.
Wealth tax UK: proposals, rates and revenue claims
UK wealth tax proposals need a defined tax base and a separate revenue forecast. Campaign estimates are not official costings.
Patriotic Millionaires UK, 24 October 2026.
Norway wealth tax: thresholds, rates and worked bills
Norway charges wealth tax above NOK 1.9 million for a single person on the published schedule. State and municipal charges apply to taxable net wealth.
Norwegian Tax Administration, 25 October 2026.
UK tax burden compared with other countries
UK tax revenue was 34.4% of GDP in 2024, against an OECD average of 34.1%, according to OECD Revenue Statistics 2025.
OECD, December 2025.
What is a stealth tax? UK examples explained
The personal allowance is £12,570 and the main higher-rate threshold £50,270 until 5 April 2031; the latter earnings threshold applies in England, Wales and Northern Ireland. Scotland sets its own earnings bands.
HMRC: Income Tax and equivalent National Insurance thresholds to 5 April 2031, 26 November 2025.
Mansion tax: what is announced for English homes?
An announced charge on high-value English homes, with consultation details still to be settled.
HM Treasury: High Value Council Tax Surcharge, 26 November 2025.