Warning non-dom tax scrap would only dent UK economy troubles

Suggestions of plans for a scrap have been circling in multiple reports

Hope Coumbe
clock • 2 min read

Abolishing the non-dom tax system in the UK would be a ‘significant risk’ for chancellor Jeremy Hunt with little lasting impact, Alvarez & Marsal says.

The business management consultancy said the estimated £3.5bn-£3.6bn yield for the government from a scrap was a "meagre sum" that would not go far to impacting the UK's broader financial picture. The comments from managing director Victoria Price come after multiple reports this morning that Hunt is considering wiping out the historically Conservative-favourite tax to bring some much needed money back into the government. Price warned however that "potential economic implications" of the wider picture need full consideration. "It might prompt ultra-high net worth individuals, who ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Will the Budget be enough to halt the UK's high-net-worth exodus?

Will the Budget be enough to halt the UK's high-net-worth exodus?

'People are not buying into the chancellor's message that the UK is pro-business'

Stephen Kenny
clock 01 December 2025 • 4 min read
Budget 25: Key takeaways from Autumn Budget 2025

Budget 25: Key takeaways from Autumn Budget 2025

Eight key takeaways

Linus Uhlig
clock 27 November 2025 • 4 min read
Partner Insight: Inheritance Tax, pensions and the waiting game: Conversations to have now

Partner Insight: Inheritance Tax, pensions and the waiting game: Conversations to have now

With Inheritance Tax expanding and pensions coming into scope, now is the time for advisers to engage clients. Discover how to turn uncertainty into opportunity with strategic estate planning conversations.

Nick Priest Partner and Head of Strategic Partnerships, Downing
clock 26 November 2025 • 9 min read