Tyson Fury Moves Much of £160million Fortune Abroad Following Labour’s “Cash-Grab” Budget
Tyson Fury in Riyadh, Saudi Arabia, in May 2024. Fury and his family have quit the UK and moved to the Isle of Man
Chancellor Rachel Reeves during last month’s budget. The Chancellor targeted high earners in November’s tax-rising budget which slapped a mansion tax on properties worth over £2million
Fury and Paris in April 2022. Locals have already spotted the island’s new famous residents with the family reportedly spending £60 on jacket potatoes at Terry’s Tatos in Douglas last week.
Boxing champion Tyson Fury and his family have reportedly left the UK, relocating to the Isle of Man in the wake of Chancellor Rachel Reeves’ controversial tax-rising budget. The move comes as Fury, who shares seven children with his wife Paris, secures a six-bedroom £8million home near the island’s capital, Douglas. Previously based in Morecambe, Lancashire, Fury’s family is said to be “very fond of the Isle of Man,” a self-governing Crown Dependency offering significantly lower taxes and no capital gains or inheritance taxes — key considerations for the £160million fortune of the heavyweight champion.
The November budget introduced a mansion tax on properties over £2million and increased income taxes for high earners, pushing Fury to consider relocation. On the Isle of Man, the higher income tax rate is capped at 21%, compared to 40% on the UK mainland, and a ceiling of £220,000 limits annual personal tax. Fury’s move was confirmed via Companies House documents, highlighting his official change of residency.
Locals have already spotted the new high-profile residents, with the Fury family reportedly enjoying a casual £60 meal at Terry’s Tatos in Douglas. A source told The Sun: “Tyson has been telling friends he’s moved here and is very fond of the Isle of Man. The couple are checking out schools for their youngest children and are looking forward to making it their home.”
