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It didn't. It was a gradual process spanning the late 19th and 20th centuries. World War 2 left Britain weakened internationally and still less capable of controlling a vast empire. Britain withdrew from most of the Middle East in 1946-48. India was granted independence in 1947, Ghana and Malaya in 1957, Most of Britain's African colonies weren't freed until the 1960s: Hong Kong remained a colony until 1997, the Falkland Islands to this day.

Where possible, the British sought to hand power to traditionally-minded rulers who would respect British business in the former colonies. Decolonisation was complicated in some territories by the presence of privileged white settler minorities: British failure to bring about majority rule resulted in uprisings in Kenya in the 1950s and Rhodesia (whose white regime had proclaimed independence rather than share power) in the 1970s.

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Q: How did the British Empire break up in the 1950?
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