Good on ya! Britain's richest man 'relocates to Monaco to save £4bn in tax'

A prominent Brexiteer and Britain's richest man, Sir Jim Ratcliffe, is set to quit the United Kingdom in a bid to save billions in tax, it has been reported.

Good on ya! Britain's richest man 'relocates to Monaco to save £4bn in tax' 9911044-6713413-image-a-43_1550368651556

Good on ya! Britain's richest man 'relocates to Monaco to save £4bn in tax' 9911044-6713413-image-a-43_1550368651556

The 66-year-old, who was knighted less than a year ago for his services to business and investment, is reportedly planning to save up to £4bn with a move to Monaco.

The country - famous for its yacht-lined harbour, upscale casinos and the prestigious Grand Prix motor race - is a well-known tax haven.

And Ratcliffe has been working with PwC on a tax avoidance plan, which could also benefit two senior executives at his chemicals company Ineos.

That's according to The Sunday Times, which has claimed that Ratcliffe, Andy Currie and John Reece cold all legally share between £1bn and £10bn of tax-free cash.

Should the plan go ahead, it could deprive the Treasury of between £400m and £4bn - a move which a source at the newspaper labelled 'egregious', should the upper end be chosen.

https://www.dailymail.co.uk/news/article-6713413/Billionaire-Brexiteer-Sir-James-Ratcliffe-relocates-Monaco-bid-save-4bn-tax.html

Good on ya! Britain's richest man 'relocates to Monaco to save £4bn in tax'

Good on ya! Britain's richest man 'relocates to Monaco to save £4bn in tax'

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