Increasing numbers of wealthy foreigners say they are leaving the UK in response to the abolition of the “non-dom” regime that allowed them to avoid paying tax on overseas income.
The change — backed by both the Conservative and Labour parties — has contributed to a relative decline in the UK’s attractiveness, according to over a dozen interviews with wealthy foreigners and their advisers. Other deterrents cited include Brexit, fiscal and political instability, and concerns around security.
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