What would happen if the UK’s non-dom tax status was scrapped?

Jeremy Hunt is believed to be weighing up whether to remove the non-dom tax breaks enjoyed by some of the UK’s wealthiest residents. Photograph: Stefan Rousseau/Stefan Rousseau / PA

With less than a week to the budget, the chancellor is mulling whether to poach one of Labour’s headline policies and scrap non-dom status, which gives generous tax breaks to some of the UK’s wealthiest residents. Who would actually be affected, and what would happen if he went ahead?

Who are the non-doms?