Sir Jim Ratcliffe moved to Monaco in 2020. Everyone quotes “4 billion pounds” in tax savings — but that number is wrong, or at least incomplete. This video explains the real mechanism: full non-residency (not non-dom), INEOS’s multi-jurisdiction structure, the PwC auditor resignation, the Manchester United complication, and the one question HMRC might still win — the domicile and inheritance tax issue nobody talks about. Then: how the same structural principles apply to UK company directors at any scale.
This is education, not advice. Always take independent professional advice on your own situation.
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Chapters:
00:00 The Monaco Move
00:47 The Plan Nobody Wanted Reported
02:02 How It Actually Works
04:29 The Part HMRC Might Still Win
06:20 The Manchester United Complication
07:15 What This Means for You
Image credits:
Photo of Jim Ratcliffe: Staff photographer, CC BY-SA 3.0, via Wikimedia Commons (File: Jim Ratcliffe PET 2013)
INEOS logo: public domain, via Wikimedia Commons, shown for editorial/commentary purposes
8 Comments
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Could you do a vid on what you should do if you win the lottery.. 🤔??
Thanx Sarah!
Great vid Sarah 🎉
…have HMRC confirmed Ratcliffe non-dom status? Usually they don’t rule unless there’s a trigger eg trusts or death, and I bet they’ll challenge his non-don status then…
The trouble is when you get someone as wealthy as he is the government will give them concessions and the rules are bent, they can’t afford to chase people away who spend hundreds of millions in our country and employ so many it would cause them to move their business elsewhere and then this country gets nothing. The guy who sold phones 4 U was said to have been given a tax bill after the sale of his company and that bill was altered after he threatened to take every penny out of this country, when you become this wealthy you always have the power to negotiate and it’s been proven time and time again now that’s power.
That is so so true and I am super duper proud of you and as always you are amazing and you are always a golden shining cosmic miracle crimson star and a legend
Need to make UK more attractive for £billionaires and centri millionaires