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Sir Richard Branson 'quitting Britain to relax not avoid tax' as he moves toCaribbean paradise island Necker

Sir Richard Bransoninsisted today that he is quitting Britain to live life to the full and

not for tax reasons!

"t has emerged that the billionaire is to live on his paradise island of Necker# $hich has a

%ero rate of income tax and a maximum payroll tax of & ( much lo$er than the rate of upto )* Sir Richard might have to pay if he $as a +, resident!

But Sir Richard took to his official -$itter account today to defend his decision to leave

Britain for Necker# calling it his home $here my family and " are able to truly relax!

.e $rote on -$itter/ 0e are fortunate enough to live on Necker# the most beautiful place in

the $orld# because it is our home $here $e can live life to the full!

" have not left Britain for tax reasons# but for my love of the beautiful British 1irgin "slands

and in particular Necker "sland# $hich " bought $hen " $as 23 years old# 45 years ago as an

uninhabited island on the edges of the B1"!

Sir Richard sold his mansion in .olland 6ark# $est 7ondon# around seven years ago after

putting it up for sale for 89:!)million!

Non(residency rules mean Sir Richard is no$ permitted to be in Britain bet$een 5; and

9&4 days a year!

.e moved there more than seven years ago# but rather than retiring there# he spends 3*

per cent of his time starting not for profit ventures and raising millions for charity through

speeches and other charitable engagements! Since he gives 9** per cent of any monies

he earns from these to charity# it makes no difference for tax purposes $hether he is in the

+, or the B1"!

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