Non-Dom Change Risks Costing UK Taxpayers, Study Warns (1)

The UK’s tax overhaul for wealthy foreigners will start costing more than it raises if one in four of those affected leaves the country, according to the Centre for Economics and Business Research.

The think tank said the end of the non-domiciled resident status, which was abolished last month, risks becoming a fiscal headache rather than a revenue-raising measure for the Treasury.

The Office for Budget Responsibility, Britain’s fiscal watchdog, has estimated that closing the loophole could generate billions more in taxes annually, while cautioning that forecasts are “very uncertain” for this wealthy and internationally-mobile cohort. The OBR has also ...