Posted By LambChop
Forbes flashy billionaire (and Britain’s 6th wealthiest man), Sir Richard Branson, has permanently taken up residence in a Caribbean. It’s not just because of the weather, either. The owner of Virgin Atlantic Airline sold his Oxfordshire (England) estate and will officially reside on his island in Necker.
According to The London Sunday Times, Branson’s new primary residence allows that he will no longer pay taxes on personal income tax on earnings outside Britain, provided that he spends less than 183 days in the U.K. in any one year. He will still be taxed on U.K. earnings.