Former British boxer Tyson Fury has moved to the Isle of Man from the UK mainland after the chancellor’s budget in November targeted high earners with higher taxes.
The boxing champion, who previously lived in Morecambe, Lancashire, has an estimated fortune of around £160million.
The 37-year-old and his wife, Paris, with whom he shares seven children, now live in a six-bedroom home close to the island’s capital, Douglas.
The two-time world heavyweight champion moved to the self-governing British crown dependency after the chancellor introduced a mansion tax on properties worth more than £2m and raised the income tax rate to 45 per cent for those earning more than £125,140.
Also, taxes in the UK mainland are much higher than those in the Crown Dependency:
- Isle of Man: 21 percent tax
- Mainland UK: 40 percent tax
Fury gets another advantage by moving to the island, as he will not have to pay capital gains tax or inheritance tax.
This was told by a source close to the boxer The sun: “Tyson is very fond of the island and has told friends he’s moved there,” adding, “The couple have also checked out schools in the area for their youngest children.”
Fury announced his fifth retirement in January; But after a recent call from Anthony Joshua, it remains unclear whether Fury will accept the challenge and return to the ring.
