In the UK, there is active discussion about introducing a capital gains tax for wealthy citizens leaving the country as part of the 2025 Budget. The new tax, which could reach 20%, would apply to assets such as stocks and bonds remaining in the UK after departure. The measure aims to retain capital within the country and, according to lawmakers, could generate around £2 billion annually.
In addition, the new budget includes discussions on:
- Higher taxes on capital, savings, and dividends;
- Tax on high-value real estate — a revaluation of homes worth over £2 million (around 100,000–150,000 properties) is planned. A fixed annual surcharge will range from £2,500–£7,500 depending on the property value, indexed for inflation;
- Inheritance Tax (IHT) — the new rules could reduce the exemption period for gifts from 7 to 3 years.
Wealth Exit: Outflow of High-Net-Worth Residents
In April 2025, the UK abolished the Non-Dom regime, which had been in place for nearly a century. This triggered a wave of emigration: in 2024, 11,000 millionaires left the country. The outflow is expected to continue through the end of 2025. Since April, 1,800 non-doms have already left — 50% more than the official forecast. Among them are the highest-earning residents, who contribute tens of millions of pounds in taxes annually.
Notable emigrants include:
- Lakshmi Mittal, founder of ArcelorMittal, who changed his tax residency to Switzerland after nearly 30 years in the UK (main reason — changes to inheritance tax);
- Nikolay Storonsky, co-founder of Revolut.
The UAE, Italy, Greece and Cyprus continue to attract investors with Non-Dom regimes, which allow efficient optimisation of taxes on worldwide income. If you are considering obtaining residency in one of these countries, Astons’ specialists will support you at every step of the process.
