Another billionaire leaves the UK

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleRevolut co-founder Nik Storonsky has switched his place of residence to the United Arab Emirates.The move follows the abolition of the UK's non-dom tax status by Rachel Reeves in April. Storonsky, a billionaire with a net worth currently valued at $14.3bn, is among several ultra-wealthy individuals leaving the UK due to these tax changes. The non-dom regime previously allowed individuals to avoid paying UK tax on foreign income and capital gains. Revolut, which recently moved its global headquarters to London, is also expanding its operations in the UAE and seeking a full UK banking licence. In fullBanking billionaire becomes latest ultra-rich lister to leave UKThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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