Charlie Sosna, Head of Private Wealth and Tax at Mishcon de Reya spoke to Bloomberg Radio about how the recent tax changes for non-doms could have unexpected consequences, with the possibility of up to 40 percent relocating to jurisdictions like Monaco, Italy, Dubai, and Switzerland.
Charlie Sosna was also interviewed for an article in The Times highlighting a significant trend of clients leaving the UK for jurisdictions like Monaco, Italy, Dubai, and Switzerland.
He comments that he anticipates the number of non-doms departing could be closer to 40 percent, exceeding initial estimates. This exodus could have broader economic implications, including a potential brain drain and reduced contributions to sectors such as the arts.
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