Boxing champ Tyson Fury moves much of his £160million net worth ABROAD following Labour’s ‘cash-grab’ budget

Tyson Fury and his family left England and moved to the Isle of Man after Rachel Reeves’ tax evasion budget.

The boxing champion and his wife Paris, with whom he shares seven children, are understood to be currently living in an £8million six-bedroom house near the island’s capital, Douglas.

The family previously lived in Morecambe in Lancashire.

Its move across the Irish sea to the Isle of Man comes after the Chancellor targeted high earners in his tax rise budget in November; It had imposed a mansion tax on properties over £2 million, which would affect Fury’s home.

Income tax rates in the self-governing British Crown Dependency are less than half those in the United Kingdom; The higher tax rate is set at 21 percent, compared to 40 percent for higher rate taxpayers on the mainland.

But for those earning over £125,140, ​​like Fury, the rate is set at 45 per cent.

On the island, the cap on the amount of personal income an individual pays each year is £220,000. Perhaps most importantly for Fury and his £160 million fortune, there is no capital gains tax or inheritance tax in the Isle of Man.

Fury’s escape to the tax haven was revealed after he changed his residence to the Isle of Man in Companies House documents.

Chancellor Rachel Reeves in last month’s budget. Fury’s move across the Irish sea to the Isle of Man comes after the Chancellor targeted high earners in his tax rise budget in November and introduced a mansion tax on properties worth more than £2 million.

Fury and his wife Paris, with whom he shares seven children, are now understood to be living in a six-bedroom house worth £8million in Douglas, capital of the Isle of Man.

Meanwhile, locals have already taken notice of the island’s new famous residents, with the family reportedly spending £60 on jacket potatoes at Terry’s Tatos in Douglas last week.

A source told Sun: ‘Tyson tells his friends he’s moving to the island.

‘He loves the Isle of Man and tells its residents he is looking forward to making it his home.

‘The couple also check out local schools for their youngest children.’

According to a 2024 report from Equiom, an asset management company, to gain tax residence in the Isle of Man, a person must spend ‘six months in any tax year in the Isle of Man or an average of more than 90 days per tax year for four consecutive years’.

Fury joins a long list of other high-profile Brits who have moved abroad in recent years, including fellow boxer Amir Khan and footballer Rio Ferdinand, both of whom now live in Dubai.

In January this year, Fury announced his fifth retirement from boxing, but that hasn’t stopped speculation he could return to the sport in the future.

Following his victory over YouTuber Jake Paul, Anthony Joshua publicly announced his intention to fight him in 2026.

Fury and Paris in April 2022. Locals have already noticed the island’s new famous residents; The family reportedly spent £60 on jacket potatoes at Terry’s Tatos in Douglas last week.

The town of Peel on the Isle of Man. Income tax rates in the self-governing British Crown Dependency are less than half those in the United Kingdom; The higher tax rate is set at 21 percent, compared to 40 percent for higher rate taxpayers on the mainland.

The Daily Mail understands the pair are lining up for Saudi top official Tukri Alalshikh’s long-awaited clash as part of the Riyadh Season.

“We’ve gotten out of the cobwebs and I can’t wait to get into 2026,” Joshua said. ‘And if Tyson Fury is as serious as he thinks he is and wants to put his Twitter fingers aside, put on some gloves and come fight one of the truest fighters to take on any challenge, step into the ring with me next.

‘If you’re a real bad guy, don’t talk ‘AJ this, AJ that’, let’s see you in the ring and let’s talk with your fists.’

The Daily Mail has approached Tyson Fury’s representatives for comment.