A new Canaccord Wealth survey shows that residents in Jersey, Guernsey and the Isle of Man are reviewing their UK tax exposure ahead of the UK Budget on 26th November 2025.
Across all three jurisdictions, around two in five respondents have already taken steps to safeguard their wealth or are preparing to do so, despite the majority reporting low levels of UK tax exposure.
Jersey
In Jersey, two in five respondents have taken or are considering protective steps in light of possible UK tax changes.
Key findings include:
- 31% are considering moving assets out of the UK, and 12% have already done so
- 92% have low UK tax exposure
- 54% own UK property and 46% hold UK pension assets
Charles Cohen (pictured), Head of Wealth Management, Canaccord Wealth said: “These findings show that even clients with relatively low exposure are thinking carefully about their UK connections and we’ve seen a noticeable increase in conversations about asset movement and wealth planning.
“We’re on the front line of this, supporting our clients through every step of that process and it’s unfortunate that so many people feel forced into this position. Despite the strong concern that people are expressing to us, our role is to help clients make informed decisions, not reactive ones, so they can protect their wealth without unnecessary risk.”
Guernsey
In Guernsey, nearly 40% of respondents have already taken steps or plan to take action in response to anticipated UK tax rises.
Key findings include:
- 29% are considering moving assets out of the UK, and 10% have already done so
- 81% have low UK tax exposure
- 57% own UK property and 43% hold UK pension assets
Chris Colclough, Head of Wealth Management, Canaccord Wealth said: “Clients in Guernsey are clearly concerned about the direction of UK tax policy. We’ve seen a surge in requests for advice on how to manage exposure and safeguard wealth.
“We’re on the front line of this, supporting our clients through every step of that process and it’s unfortunate that so many people feel forced into this position. Our message is clear though: planning is essential, but decisions should be measured and based on facts, not speculation.”
Isle of Man
The survey found that 43% of Isle of Man respondents have acted or are preparing to act in response to expected UK tax rises.
Key findings include:
- 36% are considering moving assets out of the UK, and 7% have already done so
- 86% have low UK tax exposure
- 50% own UK property and 50% hold UK pension assets
Tom Richards, Head of Wealth Management, Canaccord Wealth said: “In the Isle of Man, we’re seeing growing unease about UK tax changes. We’re on the front line of this, supporting our clients through every step of that process and it’s unfortunate that so many people feel forced into this position. Clients are asking whether now is the time to act, and our advice is to take a strategic approach. Wealth planning should be proactive and thoughtful, not driven by headlines or uncertainty.
“More people are contacting us with serious intent to move away from the UK and this should concern a Chancellor who desperately needs to create growth, but is scaring away the growth creators.”
