eprivateclient quotes Oliver Little on how tax clarity can help the UK regain confidence among global wealth holders
How can the UK maintain and strengthen its position as a hub for global wealth and investment?
According to Henley & Partners, in 2025 alone, the nation faced a projected loss of 16,500 millionaires and US$91.8 billion of wealth - the “largest single-year exodus of millionaires ever recorded.”
This outflow was largely accelerated by two policy reforms: the closure of the Tier 1 Investor Visa in February 2022 and the abolition of non-domiciled (non-dom) tax status in April 2025.
By way of replacement, the UK government introduced the Foreign Income and Gains (FIG) regime, which Oliver Little, Partner in our Private Client team describes as “incredibly advantageous – albeit short.”
Rumours have started to swirl that the UK government is considering initiatives to attract HNW individuals back to the UK, although Oliver thinks it is unlikely that the FIG regime will be changed anytime soon.
He shares his thoughts with eprivateclient:
HNW individuals are still seeking “stability and predictability – particularly in relation to tax policy. Following such a seismic shift in the taxation of non-resident individuals, people just want clarity – and the regime is clear, it is black-and-white. I think it is, therefore, unlikely that the government will make any substantial or immediate changes.
Read the full article in eprivateclient here.
