'Pay 50% tax? I'd rather be in Guernsey....'

CO-FOUNDER of financial services firm Hargreaves Lansdown and chairman of Bristol City FC Stephen Lansdown (right) is the latest to turn his back on the UK to avoid the new 50% rate.

A spokesman for Hargreaves Lansdown confirmed that Mr Lansdown, who is worth an estimated £452m., has bought a house in Guernsey.

It was co-founder Peter Hargreaves who first threatened to exit the UK in light of Labour's new tax strategy – before doing a U-turn on his plan to leave in September.

Mr Lansdown must now fly in on match days, and limit overnight stays in the UK to just 90 a year.

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