Non-doms threaten to leave the UK over changes to inheritance tax that could see their overseas assets subject to government levy

The jet set currently non-domiciled in the UK are threatening to leave over changes to inheritance tax.

‘Non-doms’ – UK residents whose permanent homes are elsewhere – have been exempt from inheritance tax on their overseas assets and wealth. 

But Labour has warned that individuals who have been resident in the UK for ten years will now be subject to the levy.

They will also remain liable for a decade after leaving Britain.

The jet set currently non-domiciled in the UK are threatening to leave over changes to inheritance tax. Pictured: Prime Minister Sir Keir Starmer

‘Non-doms’ – UK residents whose permanent homes are elsewhere – have been exempt from inheritance tax on their overseas assets and wealth (Stock image)

There are about 74,000 non-doms in the UK, most of whom are internationally mobile – meaning they can leave overnight, taking their money with them.

Hungarian Gabor Futo, co-founder of the Futureal real estate group, said: ‘I will stay in the UK to get my kids educated, but once I reach this ten-year period… I am planning to leave.’