Picture: HM Treasury

As expected UK Chancellor Jeremy Hunt has announced reform of non-dom rules that will raise £2.7 billion per year by 2028-29, which is in addition to the current £8.5 billion which non-doms pay in UK tax each year.

Mr Hunt told MPs that the reform removes preferential tax treatment based on domicile status for all new foreign income and gains (FIG) which arise from April 2025. Th...