The UK’s high net worth community reacted with relief following Wednesday's Budget, after a smaller-than-feared hike in the non-dom levy and new incentives for entrepreneurs helped ease any pain from tax changes.

The Chancellor of the Exchequer George Osbourne announced several measures affecting the wealthy, including a smaller-than-expected hike on the non-dom levy, a cocktail of incentives for entrepreneurs, a pledge on tax avoidance, a tax on private jet journeys for wealthy holiday makers, and tax breaks for philanthropists.