Unpaywalled: https://archive.vn/ydujI Paywalled: https://www.wsj.com/world/uk/the-u-k-closed-a-tax-loophole-for-the-global-rich-now-theyre-fleeing-f078cce4

LONDON—The U.K. is trying to tax the superrich. It’s off to a bumpy start. “I’m on my way out,” said Bassim Haidar, a Nigerian-born Lebanese businessman who moved here in 2010. “There comes a time when you don’t feel welcome anymore, and it’s time to just start packing and leaving.” Haidar is one of the estimated 74,000 who used a centuries-old tax loophole, abolished in April, that catered to the global rich. The nondomiciled—or non-dom status, as it is known—allowed foreigners living in the U.K. to pay tax only on what they earned domestically. Profits made abroad were ignored unless brought into the U.K.

Love to hear this:

But instead of paying up, wealthy expats are rushing for the exits, sparking questions about whether the effort will raise any money at all.