Overview

• HMRC recorded about 73,700 non-dom taxpayers for the year ending April 2024, marking a 0.5% decrease from 2022–23.
• Despite fewer claimants, revenues from non-doms rose by £107 million to reach £9 billion in the same period, driven by income tax and capital gains contributions.
• Data from the Sunday Times Rich List show the largest-ever decline in billionaire arrivals, highlighting early migration effects from tougher rules.
• The Labour Government formally abolished the centuries-old non-dom regime in April to tax foreign income under its fairness and revenue agenda.
• Former Chancellor Jeremy Hunt had estimated that ending the regime would boost Treasury receipts by £2.7 billion annually by 2028–29.