HMRC figures appear to indicate departure of high net worth people is in line with OBR predictions, report says
Claims of an exodus of wealthy “non-doms” in response to tax rises may be overblown, according to a report that suggests the number leaving the country is in line with official forecasts.
In April the chancellor, Rachel Reeves, scrapped the non-domiciled tax status, which allowed wealthy individuals with connections abroad to avoid paying full UK tax on their overseas earnings.
Since then a wave of reports has suggested that changes to the status and other tax policies are triggering an exodus of high net worth individuals.
However, early monthly payroll data from HM Revenue and Customs appears to indicate that the number of non-dom departures is in line with official predictions, according to sources cited by the Financial Times
