Britain's Richest Gypsy Alfie Best Moves to Monaco Citing Hostile UK Tax Environment

Alfie Best, Britain's wealthiest gypsy with an estimated net worth exceeding £1 billion, has relocated to Monaco. Best attributes his departure to the UK's unfriendly climate for entrepreneurs and the high tax rates.

Alfie Best's move to Monaco highlights the growing discontent among wealthy entrepreneurs in the UK regarding the tax system. This could prompt further debate on the UK's approach to taxation and business policies, potentially leading to changes in the country's economic environment.

Best, 54, claims his net worth has surpassed £1 billion as a result of his business interests, although the Sunday Times Rich List estimates it at £947 million. He has faced numerous HMRC enquiries into his personal and business tax affairs, which he cites as a major reason for his move.

Best has been vocal about his reasons for leaving. He stated, 'It is no longer Great Britain but Broken Britain. If you are a successful businessman, you are punished by the taxman and I have had enough of that.' He also emphasized his intention to start a new business in Monaco and not return to the UK.

Best predicts that more wealthy individuals from the gypsy and traveller communities will reveal their identities. He believes there are many gypsy billionaires in Britain who have hidden their identities because of historical stigma. *'There will definitely be many more gypsy billionaires in Britain because gypsies and travellers are true entrepreneurs that have been held back through stigma,'* he said.

Best's move to Monaco is seen as a significant blow to HMRC and Chancellor Jeremy Hunt. Monaco is known for being a tax haven for the wealthy, including figures like Sir Lewis Hamilton and Sir Philip Green. Best plans to moor his £10 million superyacht in Monaco's harbour and is searching for an apartment with ample parking for his £500,000 Rolls-Royce Spectre.

While Best will not pay UK income tax, he will continue to pay corporation tax on his UK businesses. His main business, Wyldecrest Parks, has been highly successful, building numerous mobile home parks across Britain.

Born in a caravan in Leicester, Best has built his fortune from scratch, overcoming poverty and negative equity. His success story has been featured in the Sunday Times Rich List, and he is known for his flamboyant lifestyle, including luxury cars and a personal helicopter.

Best's departure highlights the growing discontent among wealthy entrepreneurs in the UK regarding the tax system. As he settles into his new life in Monaco, the implications of his move may prompt further debate on the UK's approach to taxation and business policies.

Key Takeaways

• Alfie Best, Britain's wealthiest gypsy, relocates to Monaco due to UK's unfriendly climate for entrepreneurs.
• Best cites high tax rates and HMRC enquiries as reasons for his departure.
• He predicts more wealthy gypsies will reveal their identities, overcoming historical stigma.
• Best's move to Monaco is seen as a blow to HMRC and Chancellor Jeremy Hunt.
• He will continue to pay UK corporation tax on his businesses, but not income tax.