There are fewer millionaires in the UK than at any time since the global financial crisis in 2008, shows estimates from the Adam Smith Institute thinktank with wealthier taxpayers leaving for a variety of reasons including changes to non dom rules and tax policy.

Their latest millionaire tracker based on an annual estimate for the number of millionaires in the country is based on data from the Office of National Statistics (ONS).

Adam Smith Institute defines a millionaire as a UK resident who has at least £1m in individual net worth, across all real and financial asset classes, including pensions and property.

 But this is not the HMRC definition of high net worth individuals (HNWI), which it categorises as people with a net worth exceeding £10m, a threshold lowered from £20 million in 2016. T