UK Closes Tax Loophole, Sparks Wealthy Exodus
Policy change hits global elite's residency arrangements
The UK government has closed a longstanding tax loophole that benefited global high-net-worth individuals, prompting a wave of wealthy residents to relocate to more tax-friendly jurisdictions.
Officials defend the move as a necessary step toward a fairer tax system, despite warnings of capital flight.
Officials defend the move as a necessary step toward a fairer tax system, despite warnings of capital flight.
