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Ohelemapit

Sir Richard Branson Defends Farewell

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Sir Richard Branson, who has spent decades flying the flag for British business through his Virgin brand, has said he decided to move a Caribbean tax haven for his health.

The entrepreneur has reportedly sold his Oxfordshire estate and will spend his sixties living on Necker - the island he bought in the 1970s and recently rebuilt after a devastating fire.

The Sunday Times reported that the move meant the entrepreneur would not be required to pay any tax on personal income made outside Britain, although he would still be taxed on UK earnings.

His companies, which include airlines, balloon flights and health clubs, will also pay a significant amount of corporation tax.

However, in a blog posted on Sunday, Sir Richard stressed he had lived in the British Virgin Islands for seven years and would not live somewhere he did not want to simply in order to pay less tax.

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Don't blame him one bit. I'd probably do the same given his assets. I know he says it's not for tax reasons but why would anyone willingly hand over 40% of everything they earn to a government (of any political persuasion) that spends it how they see fit without any reference to the people they take it from. Good for him.

Edited by itsnotoutthere
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Is it really so unfair that he would not be required to pay any tax on personal income made outside Britain? If it's made outside Britain, surely it's no business of Britain what he does with it.

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Is it really so unfair that he would not be required to pay any tax on personal income made outside Britain? If it's made outside Britain, surely it's no business of Britain what he does with it.

Especially then when he also does not live in Britain... unless Britain imitates the US again and starts taxing its citizens regardless of their residence.

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Do not blame him, we got China moving in soon at Manchester, no doubt they will be looking to buy out Vitgin airlines one day, thats what has happened to this country over the years, everyone is buying a piece of England and keeping the profits well off our shores.

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Well, Virgin Atlantic has been 49% owned by Singapore Airlines since 1999, and now Delta Air Lines have bought Singapore's stake.

http://en.wikipedia.org/wiki/Virgin_Atlantic#Ownership.

Edited by Colonel Rhuairidh

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Bloke owns an island.

I know that if I owned an island that's where I'd be living.

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Bloke owns an island.

I know that if I owned an island that's where I'd be living.

Well, I am living on an island, I can assure you that it is not all that glorious people make it out to be.

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Well, I am living on an island, I can assure you that it is not all that glorious people make it out to be.

I'm living on the largest island in the world, and with the excpetion of the d********s who also live here, it's marvellous.

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A Caribbean tax haven for his health? Bwahahaha

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Well, I am living on an island, I can assure you that it is not all that glorious people make it out to be.

depends which island, I suppose.

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i'd love to own a private Island in the British Virgin Islands. on the next Island - his neighbour is Sir Cliff Richards, Dale Winton and Celia Black.

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depends which island, I suppose.

They all have the same systemic shortcomings.

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Do not blame him, we got China moving in soon at Manchester, no doubt they will be looking to buy out Vitgin airlines one day, thats what has happened to this country over the years, everyone is buying a piece of England and keeping the profits well off our shores.

They buy a piece of Britain, what do they do with it? Take it back to China?

I remember when the Japanese bought the Pebble Beach Golf Club in Monterrey, California, and all the Americans worried the Japanese were taking over America. The golf club is still in California last I checked.

The Vietnamese government here is really bad about that; they won't let foreigners own land and can have only a fifty year lease on any house they build here. Now what are those foreigners going to do if they bought a house here? Move it? If they misbehave you can still kick them out.

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They buy a piece of Britain, what do they do with it? Take it back to China?

I remember when the Japanese bought the Pebble Beach Golf Club in Monterrey, California, and all the Americans worried the Japanese were taking over America. The golf club is still in California last I checked.

The Vietnamese government here is really bad about that; they won't let foreigners own land and can have only a fifty year lease on any house they build here. Now what are those foreigners going to do if they bought a house here? Move it? If they misbehave you can still kick them out.

With all the money this country gives away in aid, we should not have to rely on other countries to build an airport. And thats another story!!

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i'd love to own a private Island in the British Virgin Islands. on the next Island - his neighbour is Sir Cliff Richards, Dale Winton and Celia Black.

Can you imagine living next to those 3?? No... just give me Rockall Island, no more re-runs of Supermarket Sweep, Surprise, Surprise, and "Summer Holiday"... bliss, pure bliss :w00t:

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i'd love to own a private Island in the British Virgin Islands. on the next Island - his neighbour is Sir Cliff Richards, Dale Winton and Celia Black.

And i couldn't think of a better place to put them.

Well, actually I could, but Alcatraz and Robben Island are no longer in business.

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I have just incinerated my vinyl copy of Never Mind The B0ll0cks!

Money-grabbing beardy weirdo.

.

Edited by acute

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I have just incinerated my vinyl copy of Never Mind The B0ll0cks!

Money-grabbing beardy weirdo.

.

...who has given well - paid employment to thousands, if not 10´s of thousands of folk.... he has earned his retirement from the limelight, brought a lot of Kudos to UK Entrepreneurialism, and inspires a generation of wannabees to follow in his footsteps.

I have nothing bad to say about Richard Branson, he is about as self - effacing as anyone that I know.

Edited by keithisco

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