Harry Styles and Anthony Joshua Among the UK’s Top Taxpayers
Recent reports highlight the impressive contributions of various celebrities and business magnates to the UK Treasury, marking a significant moment for high-profile taxpayers. Among them are Harry Styles, Anthony Joshua, and perennial favorite JK Rowling, showcasing a diverse array of talent and industry representation.
Key Highlights from the Taxpayer List
– Top Taxpayers: The Done brothers, Fred and Peter, founders of gambling giant Betfred, lead the annual Sunday Times Tax List for the first time, with an estimated tax contribution of £400.1 million for the past year.
– New Faces: Harry Styles, the former One Direction heartthrob turned solo artist, debuts on this prestigious list with a tax payment of £24.7 million.
– Athletic Representation: Boxer Anthony Joshua is ranked 100th, contributing £11 million to the nation’s coffers. In contrast, Manchester City’s Erling Haaland, at just 25 years old, is the youngest on the list with a projected £16.9 million tax payment, securing the 72nd spot.
– Overall Contributions: The top 100 taxpayers collectively paid £5.758 billion, up from £4.985 billion the previous year, indicating a healthy increase in contributions to the UK economy.
Notable Rankings
– JK Rowling: The author of the Harry Potter series remains a regular on the list, ranking 36th with a tax bill of £47.5 million.
– Other Notables:
– Ed Sheeran: Ranked 64th with a payment of £19.9 million.
– Sir Tim Martin: Wetherspoon founder at 8th place with £199.7 million.
The Done brothers have seen their tax contribution rise significantly from £273.4 million recorded last year, a clear indicator of their successful business model and the rising tax rates.
Factors Influencing Tax Payments
The increase in tax contributions can be attributed to several reasons:
– A hike in corporation tax from 19% to 25%, implemented in 2023 by the previous government.
– A higher tax rate on dividends.
– 45 out of the top 100 taxpayers are reportedly paying more than in the previous year.
International Trends
Interestingly, six of the top taxpayers have relocated outside the UK amidst rising tax concerns. This includes notable figures like:
– Nik Storonsky: Founder of Revolut.
– Malcolm Healey: From Wren Kitchens.
– Eddie Hearn: Prominent sports promoter.
The Top 10 UK Taxpayers
According to the Sunday Times, the following individuals are the top contributors for the year:
1. Fred and Peter Done (Betfred) – £400.1 million
2. Alex Gerko (Trader) – £331.4 million
3. Chris Rokos (Bond Trader) – £330 million
4. Stephen Rubin (Chair, Pentland Group) – £325.6 million
5. Denise, John, and Peter Coates (Bet365) – £227.1 million
6. Peter Hargreaves (Hargreaves Lansdown) – £210 million
7. Tom Morris (Home Bargains) – £209.1 million
8. Sir Tim Martin (JD Wetherspoon) – £199.7 million
9. Mike Ashley (Retail) – £175.9 million
10. Dame Mary, Douglas Perkins (Specsavers) – £121.7 million
Conclusion
The diversity in the UK’s top taxpayers—from Premier League footballers to globally recognized musicians like Harry Styles and Anthony Joshua—reflects a changing economic landscape. The significant increase in tax contributions underscores the impact of recent policy changes and highlights the importance of individual contributions to the UK economy. As the nation continues to navigate its economic challenges, the commitment of high-profile contributors remains crucial in sustaining public services and development.