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might the UK's wealthy foreigners be
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given a reprieve by Rachel Reeves before
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the controversial changes to the Nom
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laws come into force her latest comments
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at the world economic Forum suggest they
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might though some experts are skeptical
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speaking at the annual business jambur
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in Davos the chancellor committed to
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removing some of the more contentious
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elements from the upcoming reforms to
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non-dom taxation answering a question
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from The Wall Street Journal reev said
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that the government had been listening
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to the concerns rais by the Nom
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community and confirmed two changes to
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the previous plans in her maiden budget
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in October she opted to plow ah head
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with the labor party's long-standing
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promise to abolish the n-dom status a
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centuries old regime allowing wealthy
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foreigners to live in the UK without
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paying taxes on their overseas assets
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and income in its place she announced a
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contentious new residence-based scheme
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that would incentivize wealthy
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foreigners to come to the UK temporarily
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but the move was given short drift by
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those in the Nom community and triggered
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warnings of an exodus of the country's
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Ultra Rich high- net worth individuals
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before the new regime's introduction in
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April in an attempt to stem these
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departures the government is now
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expected to increase the amount of money
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that wealthy foreigners who previously
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claimed n-dom status can bring into the
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UK and also clarify questions around
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double taxation in the wake of Reeves's
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comments C spoke to several people who
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have been leading the rear guard action
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against the measures in the Autumn
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budget and while they largely welcomed
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the attention ree was giving it they
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said the changes announced so far were
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not enough Leslie McLoud Miller the
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chief executive of the non-dom lobby
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group foreign investors for Britain said
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the chancellor would need to go further
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if she wanted to stem The Exodus of
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wealthy foreigners and David lesr a
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respected tax adviser was rather more
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blunt telling Cam that if labor is
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really interested in making the UK tax
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rate regime more attractive to talented
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entrepreneurs they better come up with
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something better and quickly do you
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think Reeves should be trying to keep
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Noms from leaving the UK and if so will
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these changes be enough let us know your
2:15
thoughts in the comments
