Rachel Reeves Reconsiders Non-Dom Tax Changes to Halt Exodus
18th June 2025
Rachel Reeves is considering watering down plans to scrap the non-dom tax regime amid concerns about an exodus of wealthy individuals.
Oh noes! The sheep are no just haning around waiting to be fleeced! Who could have predicted tha?!
The chancellor is weighing up reversing her decision to charge inheritance tax on the global assets of non-domiciles: UK residents whose permanent home is abroad.
All of your money belongs to the government, unless they benevolently allow you to keep some.
The new rules are due to take effect in April but there are concerns that it will lead to wealthy people leaving the UK for regimes with lower taxes.
Oh, ya think?
The imposition of inheritance tax is viewed as particularly onerous.
As indeed it is. That money has already been taxed once, and you’re going to tax it again just because you can. “Oh, you died. Well, then, give us half.”