UK to soften tax rules for wealthy foreigners after millionaire exodus, Rachel Reeves says

The U.K. will soften some planned changes to its non-dom tax rule following concerns of a millionaire exodus, allowing non-doms to bring money to the UK without significant taxes. Finance Minister Rachel Reeves confirmed the amendment to the Finance Bill at the World Economic Forum in Davos, reassuring overseas investors that double-taxation agreements will not be affected. The Treasury stated that the tweaks aim to encourage non-doms to bring funds to the U.K. while ensuring the reforms do not impact tax revenue forecasts.

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