Boxing legend Tyson Fury has ditched the UK for the tax-friendly Isle of Man, just weeks after Rachel Reeves’s Budget. The heavyweight boxer, 37, is understood to be living in an £8million mansion outside the island’s capital, Douglas, with wife Paris, 36 and their seven children.

The Isle of Man is known for its generous tax rates, with income tax currently at 21% compared to a 40% higher tax rate in the UK. The former boxing world champion is currently liable for a 45% tax due to his earnings exceeding the £125,140 threshold. Companies House filings dated December 1 confirm the boxer has officially changed his country of residence to the self-governing Crown Dependency.

His wife has also done the same in her own business records.

The boxer is estimated to be worth approximately £160million, with the island often appealing to high-net-worth individuals due to its lack of inheritance tax.

Fury has not publicly commented on the move, but a source told The Sun: “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 couple have also been checking out schools in the area for their youngest kids.”

It comes just weeks after the Chancellor Rachel Reeves introduced a new levy on properties exceeding £2million in value, a value the couple’s family home in Morecambe comfortably exceeds.

Fury was spotted earlier this year travelling by ship to the island, which is serviced by crossings from Liverpool and Heysham, close to the Fury family home in Morecambe.

One traveller said on Facebook: "I had the privilege of meeting and chatting with this amazing guy and his family on the Manxman this morning."

The former world champion was seen in a Terry’s Tatos in Douglas last week, where he was reported to have spent around £60.

Director Rachel Marsland, 47, said: “I turned around and saw Paris Fury walk through the door, and I recognised her instantly – then I turned and saw Tyson ducking in the door.

“He was like: ‘Have you got enough spuds for us?’ I said: ‘How many of you are there?’

“He said: ‘Nine of us.’ At that point I was shutting in 15 minutes so there were nine potatoes left in the oven.’

“He was like: ‘Brilliant – there are nine of us so we will buy the lot.”

In June, it emerged that the boxer’s company, Tyson Fury Ltd, held £162 million in cash and investments. The firm’s value had increased by £82 million since 2023, yet Tyson paid himself only £100,000.

The Daily Express has approached Fury's representatives for comment.