Britain's richest with plan after Brexit - Jim Ratcliffe moves to Monaco

Britain's richest, Brexitier Sir Jim Ratcliffe, and two of his big guns at Ineos, are planning to save up to £ 4bn in taxes after moving to Monaco.

The company, estimated at around 35 billion pounds, works with tax experts at PricewaterhouseCoopers (PwC) to create a new business structure to drastically reduce the tax paid for its global revenue, according to the Sunday Times.

Ratcliffe, who lobbies for green tax cuts and reduces franchise restrictions, owns 60% of Ineos, which earned more than 2.2 billion pounds last year and hired 18,500 people. His two closest associates at Ineos, Andy Currie and John Reece own 20 percent of the company worth 7 billion pounds and are reported to be moving to Monaco and participating in the tax evasion plan.

Last year, it became clear that Ratcliffe, the founder and CEO of Ineos, was preparing to move to the Côte d'Azur duty-free principality, but recent reports show just how much they can save - putting the minimum of £ 440 million.

Ratcliffe's overseas operations come despite Brexit's voice support on the eve of the 2016 referendum when he said, "Never forget that we have pretty good cards."

Source: The Guardian

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