top of page

Channel Islands In Focus As Wealthy Families Reassess UK Ties



Wealthy UK-based families are increasingly considering the Channel Islands as a “near-shore, offshore” option as they reassess where they live, work and structure their affairs following the abolition of non-dom status, according to Rathbones’ offices in Jersey and Guernsey.


New statistics from HMRC this week, the final publication under the old regime, showed a fall in the number of non-domiciled and deemed domiciled taxpayers, down to 81,900 in 2024/26, with combined tax and National Insurance liabilities of £13.6 billion, a 9% year-on-year increase, underlining the economic significance of this internationally mobile group.


The prospect of higher taxation and greater complexity is prompting some high net worth individuals to look again at where they plan, manage and preserve their wealth. Research by Rathbones earlier this year showed that nearly 6,000 entrepreneurs left the UK between 2024 and 2026.


Rathbones Investment Management International, part of Rathbones Group, said the data release should be seen in the context of a broader shift in global wealth planning.


Tax remains important, but families are also weighing political stability, legal certainty, safety, education, healthcare, connectivity and quality of life.


Marc Nightingale, Senior Investment Director in Jersey, said:

“The latest non-dom statistics are a useful moment to take stock of how international wealth is moving, but they are not the full story. The end of the UK’s non-dom regime has sharpened conversations about mobility, but tax is only one part of the decision."

“Families are thinking more broadly about resilience, optionality and where they can build a secure base for themselves and the next generation. For some, that may be the Channel Islands; for others, it may be another international hub. The common theme is the need to bring tax, investment, succession, governance and lifestyle considerations together.”


While a number of destinations have become known for welcoming the internationally mobile, Jersey actively seeks to attract entrepreneurs, business owners and investors who can make a long-term contribution to the island. Through its High Value Residency programme, applications are assessed not only on financial criteria but also on the prospective economic and social contribution individuals can make to the community.

 

Rob Broughton, Senior Investment Director in Jersey, said:

“Jersey is a good example of how priorities are changing. Clients expect a well-regulated international finance centre, but what often matters just as much is connectivity, schools, safety, lifestyle and access to high-quality professional services."

“We are seeing entrepreneurs, business owners and investment professionals who want to remain internationally active while building a better long-term base for their families. The decision is rarely about one factor; it is about how wealth, work, family and future plans fit together.”


Most Read

New Wellbeing Programme Sees Aberdeenshire Business Branch Out

New Wellbeing Programme Sees Aberdeenshire Business Branch Out

Two former teachers from Banchory, Aberdeenshire have built a horticultural design and care business, turning an idea into a full-time venture, with Business Gateway.

Black Talent Awards Unveils 2026 Finalists

Black Talent Awards Unveils 2026 Finalists

The Black Talent Awards (BTA) has unveiled its 2026 finalists as the national platform prepares to mark its fifth anniversary, celebrating five years of recognising Black professional achievement, leadership, entrepreneurship and impact across the UK.

Rising Costs And Work-Life Balance Are Driving Britain’s Home Business Boom

Rising Costs And Work-Life Balance Are Driving Britain’s Home Business Boom

New research from garden building specialists Dunster House explored the booming backyard business economy, with surveying exclusively people who operate from their garden or home.

Categories

Jul 31
2 min read


Wealthy UK-based families are increasingly considering the Channel Islands as a “near-shore, offshore” option as they reassess where they live, work and structure their affairs following the abolition of non-dom status, according to Rathbones’ offices in Jersey and Guernsey.


New statistics from HMRC this week, the final publication under the old regime, showed a fall in the number of non-domiciled and deemed domiciled taxpayers, down to 81,900 in 2024/26, with combined tax and National Insurance liabilities of £13.6 billion, a 9% year-on-year increase, underlining the economic significance of this internationally mobile group.


The prospect of higher taxation and greater complexity is prompting some high net worth individuals to look again at where they plan, manage and preserve their wealth. Research by Rathbones earlier this year showed that nearly 6,000 entrepreneurs left the UK between 2024 and 2026.


Rathbones Investment Management International, part of Rathbones Group, said the data release should be seen in the context of a broader shift in global wealth planning.


Tax remains important, but families are also weighing political stability, legal certainty, safety, education, healthcare, connectivity and quality of life.


Marc Nightingale, Senior Investment Director in Jersey, said:

“The latest non-dom statistics are a useful moment to take stock of how international wealth is moving, but they are not the full story. The end of the UK’s non-dom regime has sharpened conversations about mobility, but tax is only one part of the decision."

“Families are thinking more broadly about resilience, optionality and where they can build a secure base for themselves and the next generation. For some, that may be the Channel Islands; for others, it may be another international hub. The common theme is the need to bring tax, investment, succession, governance and lifestyle considerations together.”


While a number of destinations have become known for welcoming the internationally mobile, Jersey actively seeks to attract entrepreneurs, business owners and investors who can make a long-term contribution to the island. Through its High Value Residency programme, applications are assessed not only on financial criteria but also on the prospective economic and social contribution individuals can make to the community.

 

Rob Broughton, Senior Investment Director in Jersey, said:

“Jersey is a good example of how priorities are changing. Clients expect a well-regulated international finance centre, but what often matters just as much is connectivity, schools, safety, lifestyle and access to high-quality professional services."

“We are seeing entrepreneurs, business owners and investment professionals who want to remain internationally active while building a better long-term base for their families. The decision is rarely about one factor; it is about how wealth, work, family and future plans fit together.”


Most Read

New Wellbeing Programme Sees Aberdeenshire Business Branch Out

New Wellbeing Programme Sees Aberdeenshire Business Branch Out

Two former teachers from Banchory, Aberdeenshire have built a horticultural design and care business, turning an idea into a full-time venture, with Business Gateway.

Black Talent Awards Unveils 2026 Finalists

Black Talent Awards Unveils 2026 Finalists

The Black Talent Awards (BTA) has unveiled its 2026 finalists as the national platform prepares to mark its fifth anniversary, celebrating five years of recognising Black professional achievement, leadership, entrepreneurship and impact across the UK.

Rising Costs And Work-Life Balance Are Driving Britain’s Home Business Boom

Rising Costs And Work-Life Balance Are Driving Britain’s Home Business Boom

New research from garden building specialists Dunster House explored the booming backyard business economy, with surveying exclusively people who operate from their garden or home.

Categories

Cobham Literary Festival Celebrates Successful Inaugural Weekend

Cobham Literary Festival Celebrates Successful Inaugural Weekend

Cobham came alive with the sound of stories, ideas and conversation this weekend as the inaugural Cobham Literary Festival took place from 11–13 September.

Shepherd Neame Village Pub Crowned UK Community Hero

Shepherd Neame Village Pub Crowned UK Community Hero

Shepherd Neame licensees Julia and Michael Foxwell, who run The Old House at Home in Dormansland, are adding another award to their shelf.

Accessible Clothing Project Receives Funding Boost

Accessible Clothing Project Receives Funding Boost

People living with disabilities and age-related mobility challenges will be able to enjoy improved independence thanks to a project that adapts everyday clothing to meet their individual needs.

Recent Posts

bottom of page