Brexit and the half-a-decade of political tumult that followed it took the froth out of top-tier London prices first, but beyond that it’s ongoing hits to wealth – capital gains and dividend tax increases and swingeing stamp duty hikes, as well as the changes to the non-dom regime – that has seemingly put the boot in.
The hard data is debated. But the non-dom flight appears to be real:
True, that Guardian article goes into why it’s hard to quantify exactly how many non-doms have left – as well as what the hit to GDP and the subsequent tax receipts might be.
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