Non-dom Tax Regime Abolished

31st October 2024

Reeves says she will abolish the non-dom tax regime and remove the "outdated concept" of domicile from the tax system from April 2025.

Applies to a UK resident whose permanent home - or domicile - for tax purposes is outside the UK. It means they do not pay UK tax on money they make elsewhere in the world.

She says she will introduce a new, residence-based scheme with "internationally competitive arrangements" for those coming to the UK on a temporary basis.

The Office for Budget Responsibility says this package of measures will raise £12.7bn over the next five years.