The number of wealthy non-dom taxpayers shrank by 1,200 last year amid warnings that Labour's tax rises could push even more rich people offshore.
New figures from HMRC reveal that 9,000 non-doms – foreign investors living in Britain – left the country or changed their tax status in the financial year ending April 2025.
Meanwhile, the number of non-doms arriving in the country dropped 14pc to 8,600. A further 800 "deemed-domicile" taxpayers – former non-doms who have since become British tax residents – also quit the UK, for an overall net reduction of 1,200.
Leslie MacLeod-Miller, the chief executive of Foreign Investors for Britain, a pressure group, warned that government inaction could push more investors and entrepreneurs to leave, reducing their £13.6bn annual tax contribution to the public finances.
"Britain is losing internationally mobile wealth at an accelerating pace," he said. "The exodus of wealth will only get worse if the Government does not introduce a competitive tax regime to restore Britain's place in the world."
#investors #government
New figures from HMRC reveal that 9,000 non-doms – foreign investors living in Britain – left the country or changed their tax status in the financial year ending April 2025.
Meanwhile, the number of non-doms arriving in the country dropped 14pc to 8,600. A further 800 "deemed-domicile" taxpayers – former non-doms who have since become British tax residents – also quit the UK, for an overall net reduction of 1,200.
Leslie MacLeod-Miller, the chief executive of Foreign Investors for Britain, a pressure group, warned that government inaction could push more investors and entrepreneurs to leave, reducing their £13.6bn annual tax contribution to the public finances.
"Britain is losing internationally mobile wealth at an accelerating pace," he said. "The exodus of wealth will only get worse if the Government does not introduce a competitive tax regime to restore Britain's place in the world."
#investors #government
2 months ago
