Ferrari cut UK supply after Labour’s tax raid on wealthy Wealth The boss of Ferrari has blamed the Labour government’s crackdown on wealth for its decision to cut the number of cars it sells in the UK, saying that a “stabilisation” in demand was happening in the country. Chief executive Benedetto Vigna told the Financial Times that his firm had reduced allocations of its supercars to [...]
Non-dom U-turn would keep South African billionaire in UK Wealth 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, [...]
The high-profile non-doms that have quit Britain since the Budget Wealth 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 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 [...]
Exclusive: Goldman Sachs International boss joins non-dom exodus April 24, 2025 Goldman Sachs’ most senior banker outside America is joining the growing ranks of wealthy foreigners leaving the UK to avoid the government’s crackdown on non-doms, City AM can reveal. Richard Gnodde, the investment banking juggernaut’s vice chairman, is moving to Milan to avoid changes the Chancellor made to the non-dom regime and foreign-held trusts in [...]