Investing
Labour’s crackdown on UK non-doms boosts Irish attractiveness, tax experts predict
Labour has said it will close remaining ‘loopholes’ in the Tory’s promised reforms
A Labour pledge to close "loopholes' in the Conservative crackdown on non-dom tax benefits could prompt some wealthy individuals to leave the UK, with Ireland poised to benefit.
Tax advisers believe that Ireland may look increasingly attractive after Rachel Reeves, who will become Chancellor if Labour wins the next UK election, set out plans to further tighten the current tax system for non-domiciled individuals.
It comes after Jeremy Hunt, the Conservative chancellor, used his budget speech earlier this year to announce plans to scrap the non-dom tax regime and replace it with a "simpler" system from April 2025.
