Yeah, Daniels was selling watches for low 7 figures so VAT or other forms of purchase tax would have been a significant chunk of change. And income tax of course.

"Daniels claimed that there was little money to be made in watchmaking, but his lifestyle suggested otherwise. In 1982 he moved, for tax reasons, to the Isle of Man, where he bought a substantial Georgian house complete with tradesmen’s entrance and sweeping drive."

https://www.telegraph.co.uk/news/obituaries/8846796/George-D...