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LONDON DAILY ARCHIVE

UK Faces Mass Exodus of Millionaires Amid Tax Crackdown

Non-dom reform blamed for projected 16,500 departures

27 July 2025 · 00:01 UTC

Britain is projected to lose 16,500 millionaires in 2025, a record high driven by rising taxes and changes to the non-domicile status policy.

Analysts say the exodus underscores growing concern among the wealthy over fiscal instability and the future competitiveness of the UK economy.