BOXING champ Tyson Fury has quit the UK for the tax-friendly Isle of Man – after Chancellor Rachel Reeves’ knockout financial blows to his wealth.
The heavyweight boxer, 37, who shares seven children with wife Paris, 36, is living in a six-bedroom £8million mansion near to the capital of Douglas after Reeves hiked taxes here to crippling levels.
Income tax rates in the self-governing British Crown Dependency are less than half of those in the UK.
The Isle of Man higher tax rate is set at 21 per cent, against 40 per cent for higher rate taxpayers on the mainland – and 45 per cent for those like Tyson earning over £125,140.
And they have a ceiling of £220,000 on the amount of personal income paid by an individual each year.
The boxer, reputed to be worth more than £160mln, has just changed his residency status on Companies House documents to the Isle of Man, as has wife Paris on her business documents.
A source said: “Tyson has been telling pals that he has moved to the island.
“He is very fond of the Isle of Man and has been telling residents that he is looking forward to making it his home.
“The couple have also been checking out schools in the area for their youngest kids.”
The two-time world heavyweight champion’s move comes after Reeves targeted the rich in her budget last month – including slapping a new tax on mansions worth over £2mln.
Tyson and Paris and their family have been living for some years in Morecambe, Lancashire, where their property is valued higher than £2mln.
According to a 2024 report by wealth management company Equiom, Isle of Man tax residency can be established by spending ‘six months on the Isle of Man in any tax year or more than 90 days per tax year on average over any four consecutive years.’
Crucially for the couple and their fortune there is no capital gains tax or inheritance tax.
Meanwhile income tax is capped at £220,000 per year for single occupants and £440,000 for couples who are married or in a civil partnership.
The Gypsy King is listed as the director of his firm Tyson Fury Ltd.
Their move has been reported at Companies House, on documents dated December 1, which say for him: ‘Country/State Usually Resident: Isle of Man.’
And the same insertion has been made on her firm Paris Fury Ltd.
In Companies House filings in July the couple had reported their place of residence as England.
It comes as fans have posed for selfies with Tyson on the Isle of Man.
The boxer was spotted on the Manxman ferry from Heysham, Lancashire, earlier this month.
This week he also posed with a Click and Collect driver for a selfie.
Gary Christian shared the snap on Facebook, captioned: “I had the privilege of meeting and chatting with this amazing guy and his family on the Manxman this morning.”
And Tyson and Paris spent £60 on jacket potatoes at Terry’s Tatos in Douglas last week.
Director Rachel Marsland, 47, said: “I turned around and saw Paris Fury walk through the door and I recognised her instantly – then I turned and saw Tyson ducking in the door.
“He was like: ‘Have you got enough spuds for us?’ I said: ‘How many of you are there?’
“He said: ‘Nine of us.’ At that point I was shutting in 15 minutes so there were nine potatoes left in the oven.’
“He was like: ‘Brilliant – there are nine of us so we will buy the lot.”
In June it was revealed that the boxer had £162million in cash and investments in his firm Tyson Fury Ltd.
His firm was up by £82million from 2023 – but Tyson paid himself just £100,000.
Tyson stepped up his career at the start of the decade by twice beating Deontay Wilder in world title fights, having drawn with the explosive American in their thrilling first fight back in 2018.
We approached Tyson and Paris’s agent for comment.
