Stephen Lansdown departs UK for Guernsey

Stephen Lansdown, the Hargreaves Lansdown co-founder and one of the UK's richest individuals, has left Britain for Guernsey.

Lansdown, who has built up a £452m personal wealth, departed the UK to avoid the 50p tax rate.

It was acutally Hargreaves Lansdown co-founder Peter Hargreaves who first threatened to exit the UK, before doing a u-turn on his plan to flee in September.

Lansdown, the chairman of Bristol City football club, now he must fly in on match days, and limit overnight stays to just 90 a year, the BBC reports.