On 6 March 2024, then-Chancellor of the Exchequer Jeremy Hunt announced an overhaul of the non-dom regime. Hunt’s successor Rachel Reeves, has since indicated that Labour will further tighten the rules in her Budget on 30 October.  

However, reports now suggest that Labour’s proposed changes to the non-dom regime may not be as far-reaching as originally planned, after Office for Budget Responsibility projections revealed the Chancellor’s proposals could end up costing the Exchequer, rather than raising revenue.  The resulting uncertainty has sparked a series of reports that the UK is set to see an exodus of non-doms in pursuit of more favourable non-dom regimes. For those affected by the forthcoming changes, there are several factors to bear in mind when considering a move away from the UK.