Tyson Fury 'permanently leaves UK’ with his family

Tyson Fury and his family have allegedly ditched England for another country for one specific reason.

The boxing champion, who has been the face of heavy weight success for years now, was always known as a true Northern soul. Having grown up in Manchester, the 37-year-old and his wife Paris, have famously made the area their home.

With seven children and a £2 million mansion on Lancashire, it seems like they’re living the dream and could easily enjoy a quiet life up north.

However, it turns out they might prefer the coastal views and perks that come with the Isle of Man.

According to the Daily Mail, the Fury family have packed up and moved to the tiny island off the coast of England, after the boxer changed his place of residence on Companies House documents.

Tyson Fury has allegedly packed up and left England (Photo by Matt McNulty/Getty Images)

On documents dated 1 December, the form claims his place of residence is ‘Country/State Usually Resident: Isle of Man’. However, in his July documents, the place of residence was listed as ‘England’.

But why have they decided to move?

As it turns out, it could be a way to get more for their money.

Chancellor Rachel Reeves recently increased income tax prices to controversial levels. According to a source that spoke to The Sun, it might have been this change that led to the fighter to purchase a six-bedroom £8 million mansion near to the capital of Douglas. They claimed that the boxer packed up and moved and is excited for the future.

They 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 source added: “The couple have also been checking out schools in the area for their youngest kids.”

When it comes to the Isle of Man, its tax is set at a different rate than the rest of the UK because it is a self-governing nation under the British Crown.

He has reportedly moved to the Isle of Man (Getty Stock Images)

So, while the UK faced an additional £26 billion in taxes in the November Budget, Fury was weeks away from moving to a location that has a ceiling of £220,000 on the amount of personal income paid by a person each year.

Even though the Isle of Man has a higher tax rate of 21 per cent, 40 per cent for higher rate taxpayers on the mainland, and 45 per cent for those who earn over £125,140, they don’t pay capital gains or inheritance tax, per its government website.

Inheritance tax could take a good bit of money off your family if you decide to pass down assets in your will for after you pass away.

It’s something that farmers were raging about just this year when the changes to the tax amount were announced.

But according to Locate Isle of Man, if you have lived in the Isle of Man for around six months or more than 90 days per tax year on average over the course of four years, you can establish tax residency and enjoy its income tax is cap at £220,000 for single occupants and £440,000 for couples who are married or in a civil partnership per year.

So, it seems like a good choice for those who want to save some pennies off their tax bill.

LADbible has reached out to Tyson Fury’s representatives for comment.