Rachel Reeves is to water down plans to scrap her non-dom tax rules amid concerns about the number of wealthy individuals deserting the UK. It must be true, because it’s being repeated everywhere – complete with a bland non-denial from the Treasury: “The government will continue to work with stakeholders to ensure the new regime is internationally competitive and continues to focus on attracting the best talent and investment in the UK.”
A key item under discussion is said to be the proposal to make non-doms’ worldwide assets liable to inheritance tax, or IHT, including those held in foreign trusts.
