Reeves ‘flying blind’ on non-doms as ultra-rich couple move to Milan Wealth Rachel Reeves will go into next month’s budget “flying blind” over the number of non-doms that have left the UK, a new report has warned on the day that a high-profile couple relocated to Milan in response to the Chancellor’s crackdown last autumn. The study, which was compiled by former Treasury economist Chris Walker, found [...]
Rachel Reeves told to ‘get out of the way’ ahead of Autumn Budget Business Chancellor Rachel Reeves has been told to “let businesses get on with it and get out of the way” ahead of delivering her second Autumn Budget in the coming months. A group of 1,500 private business leaders surveyed by KPMG said the Chancellor should focus on promoting higher wages and lower costs for companies. They [...]
Reeves’ non-dom crackdown is unwittingly driving rich Brits away too Wealth The hordes of wealthy foreigners leaving Britain to escape the government’s non-dom crackdown are being joined by high-net-worth Brits capitalising on an arcane element of the policy that has made it easier for them to avoid paying inheritance tax (IHT). Several wealth advisers and tax lawyers have reported a “second wave of interest” from middle-aged [...]
Non-dom tax take jumped to £12bn before Labour crackdown July 17, 2025 The overall tax take from wealthy foreigners who once claimed the now obsolete non-dom status rose to £12bn the year before Labour and the Conservatives announced their respective crackdowns against the regime. Data from HMRC released on Thursday showed the amount of capital gains tax, income tax and national insurance contributions paid by the cohort [...]
Is it high time to buy in super-prime London? July 15, 2025 London’s super-prime market has been suffering from a glut of supply in the wake of damaging decision-making from successive governments. Ali Lyon asks, is the tide beginning to turn? To take a walk down Mayfair’s historic Upper Grosvenor Street is to be confronted by a quiet, but dramatic, changing-of-the-guard afoot in one of London’s most [...]
How to solve the UK’s non-dom conundrum July 1, 2025 After industry experts poured cold water on Reform’s ‘Britannia Card’, and amid rumours the Chancellor is examining options to row back on elements of her non-dom reforms, Ali Lyon asks what policies might be on the table – and whether they will work. As Nigel Farage stepped up to a mundane-looking podium in a stuffy [...]
‘Way too cheap’ – Tax experts question Reform’s £250K non-dom plan June 23, 2025 Reform UK’s new ‘Robin Hood’-style non-dom policy has been given a cool reception by top UK tax experts, who have branded it as “too cheap” and warned it could even cost the UK £34bn in lost tax revenue. Nigel Farage’s party, which currently tops the opinion polls, unveiled plans for a £250,000 flat tax regime [...]
Non-dom U-turn would keep South African billionaire in UK June 18, 2025 South Africa’s richest self-made woman would cancel her plans to leave Britain if Rachel Reeves goes ahead with a change to non-dom inheritance tax rules said to be under consideration by the Treasury. Magda Wierzycka, the billionaire entrepreneur behind UK venture capital fund Braavos, had intended to join the wave of rich foreigners departing Britain, [...]
Billionaire tech entrepreneur joins non-dom exodus May 28, 2025 The billionaire founder of one of Britain’s top fintechs has quit the UK for Monaco, becoming the latest super-rich foreigner to flee the government’s crackdown on non-doms. Guillaume Pousaz, who started payments firm Checkout.com in 2012, changed his country of residence to the France-adjacent tax haven in April, according to Companies House filings, to avoid [...]
Reeves’ tax hikes are ‘death blow to London,’ Britain’s richest warn May 18, 2025 Chancellor Rachel Reeves is under renewed pressure as Britain’s top business leaders and entrepreneurs blasted her economic agenda following The Sunday Times Rich List revealing a record drop in the country’s number of billionaires. Reeves’ crack down on “non-dom” status has accelerated an exodus of leading business bosses fleeing the UK to avoid the Chancellor’s [...]