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Rachel Reeves is set to make a change to the UK government’s crackdown on non-residents in an attempt to ease concerns about the tax reforms announced in October’s Budget.

The chancellor told a fringe event at the World Economic Forum in Davos on Thursday that the government would soon table an amendment to its own finance bill.

This will enable easy access to the temporary repatriation facility, allowing non-doms to bring foreign income and gains made before April 2025 into the UK and pay tax at a discounted rate of 12 percent in the 2025-26 and 2026-27 tax years, rising to 15 percent in 2027-28 – compared to the maximum income tax rate of 45 percent.

The change planned by the government will make it easier for some funds to access the facility’s flat tax rates. But while the scale may be useful for some non-doms, it may not be possible to move the dial for most.

Reeves said at The Wall Street Journal’s Davos event on Thursday that the government was “listening to the concerns raised by the non-dom community”, responding to a question about the increase in the net number of millionaires leaving the UK in the bag -oh months. .

Jonathan Reynolds, business secretary, later confirmed the planned change, first reported by The Times, told reporters at the Swiss mountain resort: “There is a change in the finance bill . . . when you change a tax regime, people want to know, and there is some uncertainty there, so we need to get that message out.

Reeves announced in the Budget that he was abolishing the non-dom regime, which allows UK tax residents whose permanent home or “domicile” is abroad to avoid paying British tax on their foreign income or capital gains for 15 years.

It will be replaced from April 6 2025 in four years residential-based plan to offer “internationally competitive arrangements for people coming to the UK on a temporary basis”.

Downing Street said the change would not lead to a fall in tax from replacing the non-dom regime, and the Treasury still expects to raise £33.8bn over the next five years from the reforms .

Non-doms are very concerned about the changes to the inheritance tax on existing trusts, with the issue often cited as the main reason driving them to leave the country.

Rachel de Souza, tax partner at RSM UK, said that while the increase in the temporary repatriation facility was a “good step” it was “not nearly enough” to stop wealthy non-doms from leaving the UK .

“The way to prevent this exodus is to maintain the exemption from IHT to offshore trusts but also reverse the proposed changes to agricultural and business property relief that affect farmers and businessmen.”

Robert Brodrick, a partner at the law firm Payne Hicks Beach, said: “It is reassuring to see that they have finally responded to the concerns of many people affected by this, but I do not think it is enough to stem the tide. . . It helps but the inheritance tax exposure is the biggest nail in the coffin.”

The chancellor also said on Thursday that he wanted to allay concerns from countries including India that the changes to the rules would not affect double taxation agreements: “That is not the case: we will not change the double taxation conventions.”

A Treasury figure said: “We are always interested in hearing ideas for making our tax regime more attractive to talented entrepreneurs and business leaders from around the world to help create jobs and wealth of the UK.”