UK tax shake-up: Why the wealthy are looking elsewhere

The UK has long attracted high-net-worth individuals (HNWI) with its reputation as a global centre for finance, culture, and luxury living.  A major draw was the non-domicile tax regime, which let UK residents who did not see the UK as their permanent home keep foreign income and gains beyond HM Revenue & Customs' (HMRC) reach – so long as they didn't bring the money into the country.  That benefit is now gone. New tax rules and rising compliance demands are prompting HNWIs and entrepreneurs to look elsewhere. On 6 April 2025, new rules took effect that fundamentally altered how UK...