The Centre for Economics and Business Research reveals that just 0.87% of UK adults are responsible for 38% of income tax revenue, contributing £125 billion this year. This small group, pivotal to the nationâs tax system, is increasingly questioning their future in the UK due to shifting fiscal policies and the potential abolition of non-dom status. Many high-net-worth individuals are exploring options abroad for better financial prospects, as they feel the growing tax burden may diminish their skills and contributions to the economy.
The latest Budget measures, including the planned abolition of non-dom status, have accelerated discussions among top earners about their future in the UK.
As the UK becomes less competitive in terms of personal taxation, many internationally mobile individuals are reassessing where their wealth and businesses will thrive.
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