UK sees non-dom population drop by almost 37% in 'wealth exodus'

Many HNW clients relocating to Greece

Jenna Brown
clock • 2 min read

The UK’s non-dom population declined by almost 37% between 2013 and 2023, according to analysis, as the government tightened its tax treatment of high-net-worth individuals (HNWI).

Data from Astons showed there had been a decline of 36.8% in non-dom UK residents in the decade to 2023. The total number of non-doms in the UK is estimated to be 74,000, the firm said. It pointed out that the "wealth exodus" was thought to have increased in light of last year's autumn Budget which included a further crackdown on non-doms. In January, the chancellor also revealed proposal to amend plans to abolish non-dom status to allow a more generous phase-out of tax benefits. Astons said the UK's non-dom population was relocating to foreign countries "where tax regimes and fina...

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

Treasury bags £10.3bn in CGT receipts as Budget changes bite

Treasury bags £10.3bn in CGT receipts as Budget changes bite

Likely due to lots of people triggering gains ahead of Autumn Budget

Isabel Baxter
clock 21 February 2025 • 2 min read
Gifting regime 'overhaul' feared as IHT take climbs again

Gifting regime 'overhaul' feared as IHT take climbs again

IHT receipts rise to £7bn for financial year so far

Jen Frost
clock 21 February 2025 • 4 min read
Tax exodus and the new nomads: Why entrepreneurs are weighing their options

Tax exodus and the new nomads: Why entrepreneurs are weighing their options

Tax changes see entrepreneurs mull relocation

Andrew McMillan
clock 19 February 2025 • 5 min read