UK’s Top Taxpayers: From J.K. Rowling to Harry Styles

According to the latest Sunday Times Tax List, J.K. Rowling, Mo Salah, and Harry Styles are among the UK’s top taxpayers for the year. The spotlight this time shines on the Done brothers, founders of Betfred, who topped the rankings with a substantial tax contribution.

Top Tax Contributors in the UK

The billionaire siblings, Fred and Peter Done, have set a record by contributing approximately £400.1 million in taxes over the past year. This is a significant increase, as their tax bill rose nearly 46% from £273.4 million the previous year.

Overview of Tax Contributions

The total tax collected from the top 100 taxpayers amounted to £5.758 billion, an increase from £4.985 billion the prior year. This increase can be attributed to revised corporation tax rates implemented by the Labour Government, aimed at funding enhanced welfare services.

Notable Figures on the List

• Alex Gerko: Financial trading entrepreneur, second on the list with £331.4 million in tax.
• Chris Rokos: Hedge fund manager, third with a contribution of £330 million.
• J.K. Rowling: The famed author ranked 36th with a tax bill of £47.5 million.
• Harry Styles: Former One Direction member, debuted on the list with £24.7 million.
• Ed Sheeran: Also made the list at 64th position with £19.9 million.

New Entrants and First-time Taxpayers

This year, two football stars joined the tax list for the first time. Erling Haaland from Manchester City appeared at 72nd place with a tax payment of £16.9 million. Meanwhile, Liverpool’s Mo Salah recorded a lesser contribution of £14.5 million.

Migration of Taxpayers

Interestingly, six individuals on the list are no longer UK residents. High-profile figures like Nik Storonsky, Malcolm Healey, and Eddie Hearn have relocated to avoid escalating taxes under the current regime. According to Robert Watts, compiler of the list, one in nine top taxpayers have chosen to live in countries like Morocco, Dubai, and the United States.

Despite their move offshore, these individuals continue to contribute substantial amounts through their businesses. However, it is suggested that the UK Treasury could collect more if they remained and paid personal taxes.

In summary, the Sunday Times Tax List highlights the diverse array of individuals contributing significantly to the UK economy, from entertainment stars to business moguls.