Ferrari reduces number of cars sold to the UK after non-dom tax change
Why luxury carmaker is sending less cars to UK
- Ferrari has reduced the number of luxury cars it sells in the UK, citing wealthy residents leaving the country following the scrapping of the non-dom tax status.
- Benedetto Vigna, Ferrari's chief executive, confirmed that the company began limiting vehicle allocations to the UK six months ago, noting that “some people are getting out of that country for tax reasons”.
- The reduction in sales follows Labour's abolition of the non-domiciled tax status in April, which previously allowed UK residents with foreign domicile to avoid UK tax on overseas income.
- The UK has experienced its most significant drop in billionaires on record, according to the Sunday Times Rich List 2025, coinciding with the changes to the non-dom tax status.
- Chancellor Rachel Reeves has dismissed claims of wealthy residents leaving as 'scaremongering', stating that the UK remains a desirable place to live, despite plans for increased taxation on the wealthy.