20% decline in UK millionaire population by 2028 due to high taxes and non-dom tax changes.

An analysis by the Adam Smith Institute predicts the UK will experience the largest global exodus of millionaires, with their population expected to decrease by 20% by 2028. High taxes and proposed changes to non-dom tax status are driving wealthy individuals away, contrasting with growth in countries like Germany and France. Concerns arise that this trend could significantly impact UK tax revenue and overall economic investment.

October 07, 2024
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