UK Tax Exodus Fears Return as £330m Taxpayer Chris Rokos Leaves Britain Under Labour

Fears of a UK tax exodus have returned after billionaire hedge fund manager Chris Rokos, Britain's third-highest individual taxpayer, reportedly prepared to move his tax residency to Greece.

Rokos, who paid around £330 million ($446 million) to the Treasury last year, is expected to establish an office in Athens as Labour Chancellor John Healey prepares his first budget.

The September move comes amid a wider political debate over whether Britain's tax policies are encouraging wealthy residents and business figures to relocate, although official figures have so far painted a more mixed picture.

Chris Rokos Moves Tax Residency From UK to Greece

Rokos' decision could represent a significant loss to the Treasury given the scale of his recent tax contribution.

The Sunday Times Tax List 2026 ranked the hedge fund founder third among Britain's highest individual taxpayers, reporting that he paid approximately £330 million ($446 million).

Greece has become an increasingly attractive destination for wealthy foreigners. Its tax regime allows qualifying high-net-worth individuals who transfer their residency to pay a flat €100,000, around £86,000 ($116,000), annually on foreign income for up to 15 years.

Participants are also required to make a qualifying investment of at least €500,000 (£430,000 or $580,000) in Greek assets.

A spokesperson for Rokos reportedly declined to comment on his claimed relocation.

Who Is Chris Rokos?

The London-born billionaire is the founder of Rokos Capital Management, a macro hedge fund he established in 2015.

Educated at Eton College and Oxford University, Rokos built his career in finance and has an estimated fortune of between £2 billion and £2.6 billion ($2.7 billion and $3.5 billion). His investment firm has expanded internationally and manages assets reported at around $20 billion to $22 billion (£14.77 billion to £16.24 billion).

Rokos has also made substantial contributions to charitable and educational causes in Britain, making his departure particularly notable for critics concerned about losing wealthy taxpayers.

Labour Faces Fresh UK Tax Exodus Debate

Rokos' planned move comes after several tax changes affecting wealthy residents and businesses under Labour.

The government overhauled the non-domiciled tax regime, ending longstanding advantages that allowed qualifying residents to limit UK tax liabilities on foreign income and gains. Other measures have included changes affecting capital gains, private equity, employer National Insurance and inheritance tax.

Steel billionaire Lakshmi Mittal is among other wealthy figures reported to have moved their tax residency away from Britain.

Meanwhile, Shadow chancellor Andrew Griffith seized on Rokos's departure, warning that another 'wealth and job creator leaving Britain is bad news for all of us.'

However, Work and Pensions Secretary Pat McFadden defended Britain's economic environment, describing the country as a 'great place to build, grow business.'

Healey Faces Tax Questions Ahead of Autumn Budget

The timing also puts attention on Chancellor John Healey, who has refused to rule out further tax increases ahead of his first budget.

Healey said this week that responding to individual speculation would only 'fuel more speculation,' adding that his tax and spending plans would be set out at the budget.

Whether Britain is experiencing a genuine mass wealth exodus remains disputed.

Private wealth migration estimates have predicted substantial millionaire departures, while high-profile relocations have provided ammunition for Labour's opponents. Official HMRC data, however, showed only a relatively small net fall in non-dom taxpayers during the immediate period following the reforms.

Rokos' move alone therefore cannot establish that Labour's tax policies are causing a widespread exodus. But the departure of a billionaire who contributed £330 million ($446 million) in a single year ensures the question of whether Britain can retain its biggest taxpayers will remain firmly on the political agenda.