Britain’s highest earners are paying record sums in tax, according to the latest Sunday Times Tax List, but concerns are growing that tougher fiscal policies could encourage more wealthy individuals to leave the UK.
The annual ranking estimates that the country’s top 100 taxpayers contributed a combined £5.758 billion to the Treasury last year, a sharp rise from £4.985 billion the previous year.
Among those featured were musicians Harry Styles and Ed Sheeran, author J.K. Rowling, and boxer Anthony Joshua. Footballers Erling Haaland and Mohamed Salah also appeared on the list, reflecting the increasing presence of Premier League stars among the country’s biggest contributors.
Ed Sheeran performing at the official launch of the HMV Empire Coventry in 2021.At the top of the table for the first time were brothers Fred and Peter Done, founders of betting firm Betfred, who are estimated to have paid £400.1 million in tax over the past year. The Warrington-based business was launched in 1967, and the siblings are reported to have left school at 15 before building their gambling empire.
Their contribution marked a significant increase on the previous year’s £273.4 million and formed part of a broader trend: 45 of the top 100 paid more tax than in the last list.
Manchester City striker Haaland, aged 25, was the youngest name to appear, ranking 72nd with a projected £16.9 million payment, while Liverpool forward Salah was estimated to have paid £14.5 million. Rowling placed 36th with a £47.5 million bill, Sheeran ranked 64th after paying £19.9 million, and Joshua came in at number 100 with £11 million. Styles was among the new entrants, contributing an estimated £24.7 million.
Pub chain JD Wetherspoon founder Sir Tim Martin was eighth with a projected £199.7 million payment.
Robert Watts, who compiled the list, said much of the increase reflected recent changes in taxation, including the rise in corporation tax from 19 to 25 per cent and higher rates on dividends.
“This is an increasingly diverse list,” he said. “Premier League footballers and world-famous pop stars are appearing alongside aristocrats and business owners selling everything from pies to baby milk.
“This year there’s been a big jump in the amount of tax we’ve identified, largely because of higher corporation tax rates.”
Financial trader Alex Gerko placed second with a £331.4 million bill, narrowly ahead of hedge fund manager Chris Rokos on £330 million.
The top 10 contributors were:
• Fred and Peter Done and family, Betfred — £400.1m
• Alex Gerko, trader — £331.4m
• Chris Rokos, bond trader — £330m
• Stephen Rubin and family, Pentland Group — £325.6m
• Denise, John and Peter Coates, Bet365 — £227.1m
• Peter Hargreaves, Hargreaves Lansdown — £210m
• Tom Morris and family, Home Bargains — £209.1m
• Sir Tim Martin, JD Wetherspoon — £199.7m
• Mike Ashley, retail — £175.9m
• Dame Mary, Douglas Perkins and family, Specsavers — £121.7m
However, the list also highlights reports of wealthy individuals relocating overseas. Six of those named are said to have moved abroad in the past year, amid speculation that higher taxes and the planned end of non-dom status have played a role.
Those reportedly leaving include Revolut founder Nik Storonsky, Wren Kitchens entrepreneur Malcolm Healey and boxing promoter Eddie Hearn.
Economists and commentators note that the UK relies heavily on high earners to fund public services, and argue that policymakers face a delicate balance between raising revenue and maintaining the country’s appeal to investors and entrepreneurs.
With the UK Government under scrutiny over its tax proposals, some analysts suggest that uncertainty alone could prompt further departures, while others stress the importance of long-term stability in shaping future decisions.
HMRC does not comment on individual taxpayers, meaning this newspaper cannot independently verify the Sunday Times estimates.
Main Image: For illustration purposes only.
