Whitehall in talks with City for non-dom reform after exodus

cityam01-11

Chancellor of the Exchequer Rachel Reeves and Business and Trade Secretary Peter Kyle PA Photo. Steve Welsh/PA Wire Whitehall is locked in talks with City bigwigs as the Labour government seeks to ...

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Steve Welsh/PA Wire Whitehall is locked in talks with City bigwigs as the Labour government seeks to ...</p>\n\n<a href=\"https://www.cityam.com/whitehall-in-talks-with-city-for-non-dom-reform-after-exodus/\">Source Link</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Whitehall in talks with City for non-dom reform after exodus</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhitehall in talks with City for non-dom reform after exodus\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-01-11 18:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cityam.com/whitehall-in-talks-with-city-for-non-dom-reform-after-exodus/><strong>cityam</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chancellor of the Exchequer Rachel Reeves and Business and Trade Secretary Peter Kyle  PA Photo. Steve Welsh/PA Wire Whitehall is locked in talks with City bigwigs as the Labour government seeks to ...</p>\n\n<a href=\"https://www.cityam.com/whitehall-in-talks-with-city-for-non-dom-reform-after-exodus/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4211","symbol_name":"区域性银行","start_time":0,"source_url":"https://www.cityam.com/whitehall-in-talks-with-city-for-non-dom-reform-after-exodus/","article_id":"2602714555","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/01/01KCP9D7S2WJ5SBVDY0Z6PT4NB.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/whitehall-in-talks-with-city-for-non-dom-reform-after-exodus/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2602714555","pubTimestamp":1768128874,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Chancellor of the Exchequer Rachel Reeves and Business and Trade Secretary Peter Kyle  PA Photo. Steve Welsh/PA Wire Whitehall is locked in talks with City bigwigs as the Labour government seeks to attract wealthy investors to the UK following the tumultuous fallout to the scrapping of the non-dom regime.The non-dom status was changed by Chancellor Rachel Reeves in the Autumn Budget 2024 and was swapped for a residence-based system that taxes all long-term residents on their worldwide income.The Treasury shifted to a four-year “grace period” model after axing the tax status, but according to the Sunday Times, Reeves is already reviewing the impact of the changes.Ministers are understood to be in talks around an extension to the current grace period alongside a “pay-to-play” visa for the ultrawealthy. This follows reports that the Chancellor has already kicked off her formal review to stem the damage caused by non-dom reforms","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4211":"区域性银行","CHCO":"City Holding Company"},"translate_title":"白厅正在与曼城就人口外流后的非本土改革进行谈判","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CHCO":1.5},"content_text":"Chancellor of the Exchequer Rachel Reeves and Business and Trade Secretary Peter Kyle  PA Photo. Steve Welsh/PA Wire Whitehall is locked in talks with City bigwigs as the Labour government seeks to attract wealthy investors to the UK following the tumultuous fallout to the scrapping of the non-dom regime.The non-dom status was changed by Chancellor Rachel Reeves in the Autumn Budget 2024 and was swapped for a residence-based system that taxes all long-term residents on their worldwide income.The Treasury shifted to a four-year “grace period” model after axing the tax status, but according to the Sunday Times, Reeves is already reviewing the impact of the changes.Ministers are understood to be in talks around an extension to the current grace period alongside a “pay-to-play” visa for the ultrawealthy. This follows reports that the Chancellor has already kicked off her formal review to stem the damage caused by non-dom reforms\n\nA number of high profile Britain’s entrepreneurs made up the fleeing list of the wealthy exiting the UK including the boss of London-born fintech juggernaut Revolut, who abandoned his main residency in the UK in favour of the United Arab Emirates. \n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNik Storonsky’s updated residency was posted in fresh Companies House filings on the fintech chief’s family company in October.   Lobbying for non-dom reformBusiness Secretary Peter Kyle, who was appointed to the brief following the reshuffle after Angela Rayner’s bombshell resignation, has led calls to attract wealth creators to the UK.The Department for Business and Trade has established a “global talent taskforce” in a bid to make Britain more attractive to entrepreneurs as Kyle sets his sights on the UK forging its own $1tn company.\n\nPressure groups have seized on recent Treasury climbdowns on inheritance tax for farmers and business rates to lobby for a pivot, with lobby group Foreign Investors for Britain said to have submitted a proposal to MPs for a “global investor visa.”This visa would target stopping the exodus of non-doms and lure in new wealth creators who would pay a fee of £200,000 a year and commit to invest £2.5m in the country.But this would allow them to skirt being taxed on their foreign income for up to 15 years and exempt them from inheritance tax, according to the Sunday Times.A government spokesperson said: “The UK remains a highly attractive place to live and invest. Our main capital gains tax rate is lower than any other G7 European country and our new residence-based regime is now simpler and more attractive, while also addressing tax system unfairness so every long-term resident pays their taxes here.”","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.1","shortVersion":"4.36.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2602714555","isCrawlerRequest":true}