UK Expects Bigger Non-Dom Tax Take Despite Billionaire Exodus

The UK government is expecting a bigger windfall from major reforms to a preferential tax system for wealthy residents, despite a growing number of ultra-rich individuals relocating to other territories.

The changes for non-domiciled individuals who lived in Britain but originally hail from overseas are expected to bring in £39.5 billion ($52.1 billion) over coming years following “re-costings” from the nation’s tax authority, the UK Treasury said in its 2025 Budget, without explaining the reassessment. That marks a rise of almost 20% from a 2024 to 2030 forecast previously disclosed in January by the UK’s fiscal watchdog, the Office for ...