UK Budget 2024: Will High Earners Benefit From Property Tax, Non-Dom Changes?

UK Chancellor of the Exchequer Jeremy Hunt is looking to deliver tax cuts while keeping inflation tamed. The plans, announced in the budget Wednesday, come as his party wants to attract voters ahead of a general election this year and as Britons face the highest tax burden since World War II.

The result for high earners is a mixed picture: While a cut to the payroll tax from 10% to 8% and a new tax-free savings account could provide some benefits, the end of the non-domiciled status and of the second-home tax regime could sting more.

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