U.K.’s wealth exodus has only just begun, as the effects of dismantling its multi-billion dollar non-dom tax regime kick in

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Official data suggests some 74,000 people claimed non-dom status in 2023, accounting for £8.9 billion in tax revenues for the U.K.

Critics of the non-dom structure argue that it gives wealthy people more leeway with taxation rules while staying in the U.K.for a long time.

It’s one of only two cities in the ranking with a net loss of millionaires over the last decade, the other being Russia’s capital of Moscow.

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Article Details

Author / Journalist: Prarthana Prakash

Category: EconomyBusiness

Markets: United States

Topics: Millionaires Wealth inequality Editor's Picks Wealth U.K. Europe Immigration

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-08 @ 13:10:32 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 650 words

Reading Time: 4 minutes read

Sentences: 4 lines

Sentence Length: 163 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27727979

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