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, Morning Wire 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 [...]
Come back non-doms, all is forgiven April 10, 2025 I write this sitting in the morning sunshine in a cafe in central Milan, where I’m one day into my new life as a beneficiary of their special tax regime for high net worth individuals, meaning that in exchange for a mere €200,000 a year I can protect my overseas sources of wealth and income [...]
How to navigate the UK tax landscape in 2025 April 9, 2025 Happy new tax year! To celebrate, Liz Ritchie is here to tell you how to navigate the UK's tax landscape in 2025.
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] [...]
Aston Villa’s non-dom owner leaves UK for Italy April 2, 2025 The billionaire co-owner of Aston Villa football club has become the latest wealthy foreigner to leave the UK in response to the government’s decision to abolish the non-dom regime. According to registry filings, Nassef Sawiris, Egypt’s richest man, is now a resident of Italy. He previously lived in the UK and claimed the country’s generous [...]
Labour’s non-dom tax raid forces Castle-owning fintech founder out of the UK February 14, 2025 The owner of a £6m castle in Kent would have set up a credit fintech employing dozens of UK workers had the reforms to the non-dom status made by “Reckless Reeves” not meant she could “no longer stay in the UK”. Reality television star Ann Kaplan Mulholland has claimed non-dom status with her cosmetic surgeon [...]
How much does tax really affect your decision making? January 22, 2025 From VAT on school fees to business taxes, we’re living through a live experiment with the effects of tax on people’s choices. Evidence suggests the results could be far from clear-cut, says Tim Sarson Last week, I was lucky enough to be on the panel for the Women in Tax network’s annual debate. The question [...]
Reeves employer NIC tax plans raise wind-up fears for football clubs January 7, 2025 A total of 24 professional football clubs are in arrears to HMRC over PAYE debt, with experts fearing that number could rise due to Rachel Reeves’s budget. Clubs including Championship side Reading and National League Southend United are among those who received winding-up petitions from HMRC in 2024. But business experts have warned that changes [...]
Private clubs and boarding schools: Abu Dhabi’s plan to attract ultra-wealthy December 10, 2024 Abu Dhabi is targeting the ultra-wealthy with private clubs, elite schools, and revamped banking, aiming at those considering leaving the UK
Will the world’s super wealthy still buy in London? November 7, 2024 The abolition of non-dom status and stamp duty on second homes may sound like bad news for super-prime property, but the reality is more nuanced, says Trevor Kearney The delivery of Rachel Reeves’ first Budget marks a significant shift in the UK’s fiscal landscape, especially for London’s super-prime property market. While headlines focus on the [...]