Increase in Brits Relocating Overseas: The Number of Britons Emigrating Has Doubled
A significant number of UK taxpayers are moving abroad, driven by economic pressures and the desire for a better work-life balance. According to data from HMRC, the average monthly number of P85 forms (used to notify HMRC of a move abroad) rose from 2,500 in 2022 to about 5,150 in 2023, indicating an accelerating departure rate.
Between 2024 and 2025 alone, submissions rose by nearly 30%, signaling a growing trend of UK residents leaving the country. This trend, often referred to as a "brain drain," reflects a generation-wide disillusionment with the UK's economic prospects.
Economic distress from rising living costs and limited job opportunities, stagnant wages, and the ability to maintain social and family connections through technology like Zoom and FaceTime, and cheaper, more efficient travel options, are key reasons cited for this emigration. Remote working also enables relocation without changing jobs, making it an attractive option for many.
The emigrants generally are not currently millionaires but have potential wealth creation prospects and desire fewer state dependencies. While reports on millionaire migration vary, the overall data confirms a significant movement of UK taxpayers abroad, emphasizing a broader economic and confidence challenge rather than just movements among the ultra-wealthy.
Spain remains the top destination for Brits looking to move abroad and work, with Australia and the US following closely. A recent poll from the Adam Smith Institute found that more than one in four 18-30 year olds are either heavily considering leaving or already making plans to emigrate.
Bryan Myrie, director at Citrus Relocation, stated that his firm is facilitating moves for a growing number of Brits with these reasons. The ease and spread of relocating are piling further scrutiny on Britain's ability to stem its brain drain and retain its brightest and most ambitious citizens.
[1] The Guardian, "UK taxpayers are moving abroad in increasing numbers, data shows," 2023. [2] The Telegraph, "More than 5,000 UK taxpayers left the country each month in 2023," 2024. [3] The Economist, "The rise of the global nomad: how technology and remote working are driving emigration," 2025.
- Some of the individuals moving abroad from the UK are choosing to do so due to factors beyond economic wealth, desiring lower reliance on state funding and seeking opportunities for wealth creation.
- As more taxpayers relocate to countries like Spain, Australia, and the US, there is growing concern among policymakers about the potential impact on sports leagues, as these individuals may contribute significantly to team sponsorships and ticket sales.
