Live EventsThe UK government is reviewing its recent move to impose inheritance tax on global assets of non-domiciled residents , following a wave of departures among high-net-worth individuals and lobbying from the City of London . According to one City financier familiar with Reeves’ stance, the government is seeking a way to “backtrack without backtracking” on the inheritance tax changes . Another City executive said, “There will most likely be some tweaks to inheritance tax to stop the non-dom exodus.”The abolition of the non-dom tax regime and the closure of offshore trust loopholes have already triggered relocations to lower-tax destinations such as the UAE, Italy, and Switzerland. Alongside the non-dom issue, the removal of VAT exemptions for private school fees and inheritance tax amendments have raised alarm among financial professionals. Legal experts have flagged this as a fresh cause for business owners to leave the UK.

Source: The Times June 17, 2025 08:11 UTC