https://www.wsj.com/world/uk/the-u-k-closed-a-tax-loophole-for-the-global-rich-now-theyre-fleeing-f078cce4 Skip to Main Content Explore Our Brands * WSJ * ----------------------------------------------------------------- * Barron's * ----------------------------------------------------------------- * MarketWatch * ----------------------------------------------------------------- * IBD * ----------------------------------------------------------------- * * ----------------------------------------------------------------- Buy Side from WSJ WSJ Logo The U.K. Closed a Tax Loophole for the Global Rich. Now They're Fleeing. 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Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/uk/ the-u-k-closed-a-tax-loophole-for-the-global-rich-now-theyre-fleeing-f078cce4 Bassim Haidar used a centuries-old loophole in the U.K. that catered to wealthy foreigners. The U.K. Closed a Tax Loophole for the Global Rich. Now They're Fleeing. Instead of paying up, wealthy expats are getting out--sparking questions about whether the move will raise any money at all Share Resize --------------------------------------------------------------------- Listen (2 min) Bassim Haidar used a centuries-old loophole in the U.K. that catered to wealthy foreigners. LAURA PANNACK FOR WSJ By Chelsey Dulaney and Natasha Dangoor 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." Copyright (c)2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8