Preliminary UK Tax Data Eases Worries of Non-Dom Exodus, FT Says

The number of wealthy individuals leaving the UK in response to recent tax changes is so far in line with official predictions, the Financial Times said, citing people briefed on the findings of a HMRC analysis.

Monthly payroll data reviewed by HMRC suggest that the number of non-dom departures broadly conforms with projections from the Office for Budget Responsibility that one in four with trusts would leave, the FT reported.

The findings from His Majesty’s Revenue & Customs will offer some respite for Chancellor Rachel Reeves, whose flagship “tax the rich” policy has sparked a number of high ...