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Chancellor Reevaluates Non-Dom Tax Amid Wealthy Exodus

6/20/2025

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Summary

Story summary

Chancellor Rachel Reeves is rethinking her non-dom tax reforms amid fears that affluent individuals are fleeing the UK. The Treasury is now evaluating the 40% inheritance tax on non-doms, spurred by notable exits like Lakshmi Mittal. Pressure from City leaders is mounting, pushing for adjustments to keep the UK attractive to global investors.

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Story summary

Chancellor Rachel Reeves is rethinking her non-dom tax reforms amid fears that affluent individuals are fleeing the UK. The Treasury is now evaluating the 40% inheritance tax on non-doms, spurred by notable exits like Lakshmi Mittal. Pressure from City leaders is mounting, pushing for adjustments to keep the UK attractive to global investors.