Nearly 3,800 company directors have left the United Kingdom since the Labour government abolished the longstanding ‘non-dom’ tax regime, according to Financial Times analysis of Companies House filings. The departures, recorded between the October 2024 Budget and June 2025, represent a 40% jump from the same period a year earlier when 2,712 executives relocated. The exodus accelerated in April, when the reform formally took effect, with 691 departures logged that month alone. The United Arab Emirates, particularly Dubai, has emerged as the most popular destination, followed by Spain, the United States and Monaco. The Treasury expects the change to raise £33.8 billion over five years, though the Office for Budget Responsibility warns the yield depends on how many high earners ultimately leave. Some UK companies are responding by hiring contractors rather than full-time staff to reduce tax exposure, adding to concerns about the policy’s long-term impact on investment and revenue.