Terry Smith moved to Mauritius in 2014, opening his business there at the same timeTerry Smith took home £16.2 million last year and may have received even more after his investment business paid almost £116 million to a company that the star fund manager controls overseas. Pre-tax profits at his Fundsmith business rose from almost £21 million in 2018 to £26.4 million in the year to the end of March, according to accounts filed at Companies House. Mr Smith, 66, received a £16.2 million share of the UK-incorporated group’s profits, up from the £12 million he received a year earlier. His business also paid £115.8 million to Fundsmith Investment Services, a Mauritius-based company that carries out administrative and research activities for the UK group and is more than 50 per cent-owned by Mr Smith. The accounts for the Mauritian

Source: The Times January 08, 2020 00:11 UTC