Betfred Founders Fred and Peter Done Top UK Taxpayer List
The founders of BetFred, Fred and Peter Done, have topped the list of UK taxpayers, as reported by the Sunday Times Tax List. Their tax contribution for the past year reached £400.1 million, marking a significant increase from £273.4 million the previous year.
Significant Tax Contributions
The surge in the Done brothers’ tax bill reflects recent changes in the tax landscape. The increase was primarily driven by rising corporation tax rates implemented by the Labour Government, aimed at enhancing welfare spending.
- Total tax contribution by Fred and Peter Done: £400.1 million
- Previous year’s tax contribution: £273.4 million
Top Taxpayers in the UK
The Sunday Times Tax List highlighted an array of high-profile taxpayers. Along with the Done brothers, notable figures include:
- JK Rowling: £47.5 million
- Harry Styles: £24.7 million
- Ed Sheeran: £19.9 million
- Mohamed Salah: £14.5 million
- Erling Haaland: £16.9 million
In total, the top 100 taxpayers contributed £5.758 billion, an increase from £4.985 billion the previous year. This reflects the evolving makeup of the list, which now includes not only business owners but also sports stars and entertainers.
Shifts in Tax Residency
Interestingly, several individuals on the list have relocated outside the UK. Six taxpayers, including prominent figures, chose to leave, allegedly to avoid the increased tax burden. These individuals include:
- Nik Storonsky (Revolut founder)
- Malcolm Healey (Wren Kitchens founder)
- Eddie Hearn (sports promoter)
According to Robert Watts, who compiled the list, nearly one in nine people on the tax list no longer reside in the UK. They have moved to locations like Morocco, Dubai, and the United States.
Conclusion
The significant tax contributions by Fred and Peter Done, along with the influx of new entrants to the top taxpayer list, underline the financial strength of high earners in the UK. The impact of government tax policies continues to influence the fiscal landscape, prompting discussions on residency and tax obligations.
