Toffshore accounts

A baron, a viscount and six knights among third of UK billionaires to quit country

MANY members of high society are among nearly a third of The UK’S billionaires who have left and moved to tax havens, it is claimed.

At least one viscount, a baron, six knights and one dame are said to be among those who have made the move.

Some have continued to fund political parties while living abroad.

One name on the list is Sir Jim Ratcliffe, Britain’s richest man, worth £21billion, who is moving to Monaco.

Reports say the founder of chemicals giant Ineos is working with accountants on legal plans that could save him up to £4billion in tax. In 2013, the firm announced cuts to employees’ benefits at its Grangemouth refinery in Scotland.

Workers voted to strike, but Ineos then threatened to shut the plant, so they agreed to the terms.

The probe, by The Times, found 28 of 93 British billionaires have moved to tax havens or are in the process of doing so. They are among 6,800 Britons controlling 12,000 UK companies from low-tax jurisdictions.

It is claimed the Treasury is denied billions of pounds a year.

Shamed tycoon Sir Philip

Green commutes from Monaco, where wife Lady

Green is based, to the UK by private jet. Lady Green is the sole owner of the family’s firm Taveta, based in Jersey. According to The Times, Green has declared in company accounts that he is “usually resident” in Monaco four times since 2013. However, his representatives have said that he remained resident in the UK for tax purposes.

Labour’s Dame Margaret Hodge

LABOUR MP

said: “It is obscene that some of the superwealthy think it is fine to avoid paying UK tax for the common good. It is even more obscene if people living in tax havens are funding and influencing politics.”

A spokeswoman for the Green family said Lady Green did not move to Monaco for tax purposes and she had no business interests when she left Britain.

ON THE MOVE

BILLION DOLLAR DRAIN Many super-rich have moved to tax havens such as Monaco