Four in 10 entrepreneurs mulling UK exit June 13, 2025 Four in 10 UK-based entrepreneurs are considering moving their firm overseas, a fresh poll has found, in further evidence the government’s crackdown on wealth and Britain’s stagnant economy are driving people away from the country. According to audit shop S&W’s Business Owners Sentiment Survey, 39 per cent of the UK’s entrepreneurs are mulling a move [...]
The high-profile non-doms that have quit Britain since the Budget June 6, 2025 If the pleas of wealth advisers and tax lawyers are to be believed, since the Chancellor’s Autumn fiscal crackdown, non-doms have been leaving Britain in droves. We’ve listed the most high-profile departures since the Budget. Having made it almost exactly halfway through her maiden Budget, the UK’s first female Chancellor was beginning to find her [...]
Non-dom exodus could blow ‘black hole’ in public finances June 2, 2025 At least 10 per cent of the UK’s non-doms left the UK last year following Rachel Reeves’ crackdown on the tax status, new research claims, a rate which if continued into this year would wipe out the Chancellor’s fiscal headroom. According to the Chamberlain Walker study, conducted by former Treasury economist Chris Walker, a minimum [...]
Billionaire exodus shows Britain is no longer a place for wealth to grow May 21, 2025 The Sunday Times’ Rich List has revealed a sharp decline in the number of UK-based billionaires in a worrying sign of the damage Labour’s tax policies are causing, says Jon Shankland The Sunday Times’ annual Rich List, published its latest iteration last week. Amid the names of the country’s most affluent, the list also revealed [...]
Reeves must provide ‘more stable’ tax policy, finance bosses say May 20, 2025 Rachel Reeves is facing pressure to provide a “clearer, more stable tax environment,” when she delivers her growth strategy in July. The Chancellor is once again in the spotlight after a damning report from finance bosses indicated the industry was prepped to support growth ambitions, but structural barriers were holding them back. Top players in [...]
Non-dom exodus could cost the Treasury £12.2bn May 6, 2025 Chancellor Rachel Reeves’ decision to remove tax exemptions for non-doms could lead to “billions” in losses from the public purse, new research has suggested, in a blow to the Treasury’s fiscal plans. Reeves followed through with manifesto pledges by removing tax exemptions from mega-rich non-domiciled individuals at last year’s Autumn Budget, something the Office for [...]
The non-dom exodus is harming London’s housing market May 2, 2025 Punitive taxes and onerous regulation on landlords are leading the wealthy to sell up and leave London – with knock-on effects at all levels of the housing market, says James Evans As City AM’s Editor-in-Chief recently pointed out, ‘The UK only has around 70,000 non-doms, and that number is falling fast. More than 11,000 millionaires, [...]
Aston Villa’s non-dom owner quit UK due to ‘Tory incompetence’ April 21, 2025 The non-dom co-owner of Aston Villa football club has blamed the Conservative party’s mismanagement of the economy for his decision to leave the UK earlier this year. Nassef Sawiris, a chemicals magnate who is Egypt’s richest man, became one of the most high profile ultra high net worth individuals to avoid the government’s crackdown on [...]
A decade of departures: Moscow only city with worse millionaire exodus than London April 9, 2025 If Knight Frank’s inaugural Global Cities survey was anything to go by, London had the world at its feet in 2013. Respondents to the property giant’s annual poll of global wealth advisers declared the UK capital—not Singapore, Geneva, or any of America’s embarrassment of global cities—the ‘most important city in the world’ to their ultra-high-net-worth [...]
Scrapping non-doms could cost UK up to £111bn by 2035, ASI think tank claims April 5, 2025 Scrapping the non-doms tax status could cost the UK up to £111bn by 2035, the Adam Smith Institute (ASI) is warning. The UK could also lose some 44,000 jobs by 2030 if the government enacts its plans to abolish the scheme, the free-market group has suggested. These figures are based on just over half [11,050] [...]