The ongoing debate on the non-dom tax regime shows a significant response from wealthy investors, with 63% indicating plans to leave the U.K. in reaction to potential changes.
Finance Minister Rachel Reeves argues that scrapping the non-dom tax could generate £2.6 billion for the government, yet conflicting research suggests it might cost taxpayers £1 billion by 2029/30.
We are ringing out the alarm bell that this is a perilous time. If the government doesn't listen they'll put at risk revenues for generations, warns Macleod-Miller.
With U.K. alterations on the horizon, Monaco, Dubai, and Switzerland emerge as appealing alternatives for the country’s wealthy elite, eager for more favorable tax conditions.
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