The UK Government is putting at risk more than £6 billion of tax revenue by changing rules for resident non-domiciled taxpayers, law firm Pinsent Masons has warned.

Proposals to scrap non-dom tax status for people living in the UK long-term, due to come into force in April 2017, could spark of exodus of many wealthy residents.

Fiona Fernie, partner and head of tax investigations at the firm said: “Non-doms make a highly valuable contribution to the UK economy and any substantial exodus could have serious long-term impacts. Policymakers need to consider what they might lose by placing the stat...