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 [...]
Tories vow to rip up workers’ rights package June 26, 2025 The Conservative Party will rip up Labour’s contentious workers’ rights overhaul if they are elected in a bid “once again” to convince voters it is the party of business. In a speech to business leaders on Thursday, shadow business secretary Andrew Griffith will warn attendees the Employment Rights Bill will hand “enormous power” to trade [...]
Millionaires on the move? Britain can’t afford this wealth flight. June 24, 2025 All around the world, money is on the move. Millionaire migration might seem like a niche narrative, but it sparks serious debate and can lead to major policy changes. No individual dataset can be taken as flawless, but a number of different sources can be pooled that, taken together, paint a picture of where wealth [...]
‘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 [...]
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 [...]
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 [...]
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 [...]
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 [...]