In a fresh revelation from the Sunday Times Tax List, the Done brothers, founders of the Betfred gambling empire, have topped the ranks as the UK’s highest taxpayers for the first time, contributing a staggering £400.1 million in taxes over the last year. This notable list also features prominent figures from the realms of entertainment and sports, including musician Harry Styles, boxer Anthony Joshua, and author J.K. Rowling.
Betfred Brothers Lead the Charge
Fred and Peter Done have seen their tax contributions nearly double from £273.4 million in the previous year, a significant leap attributed to recent changes in corporation tax rates implemented by the Labour government to bolster welfare spending. The brothers, who began their betting shop business in Warrington in 1967, have transformed their lives from humble beginnings to amassing a billion-pound fortune.
Their impressive tax bill places them at the forefront of the list, which collectively saw the top 100 taxpayers contribute £5.758 billion, up from £4.985 billion in the prior year.
Rising Stars and Established Icons
Harry Styles, once a member of One Direction and now a successful solo artist, made his debut on the tax list with a contribution of £24.7 million. He joins other notable entrants, including Manchester City striker Erling Haaland, who, at just 22 years old, ranks 72nd with a tax payment of £16.9 million. Liverpool’s Mo Salah follows closely behind, contributing £14.5 million.
Also making headlines is J.K. Rowling, who ranked 36th with a tax bill of £47.5 million, and musician Ed Sheeran, who paid £19.9 million, placing him at 64th. Anthony Joshua rounds out the list at number 100 with a payment of £11 million.
Changing Landscape of Taxation
The landscape of UK taxation is undergoing a significant transformation, with six individuals on the list having relocated abroad in the past year to evade rising tax liabilities and the cessation of non-domicile statuses. This trend includes notable figures such as Nik Storonsky, the founder of Revolut, and Malcolm Healey of Wren Kitchens.
The overall tax figures reflect ongoing economic adjustments, with financial trading entrepreneur Alex Gerko and hedge fund manager Chris Rokos following the Done brothers with tax contributions of £331.4 million and £330 million, respectively. This year’s list showcases a diverse array of contributors, spanning Premier League athletes to renowned pop stars, alongside traditional business magnates.
Expert Commentary
Robert Watts, the compiler of the Sunday Times Tax List, highlighted the increasing diversity of taxpayers, noting the impressive jump in identified tax contributions, largely driven by heightened corporation tax rates. “This year there’s been a big leap in the amount of tax we’ve identified,” he stated. However, HM Revenue and Customs (HMRC) typically refrains from commenting on individual tax cases, leading to an inability to verify these figures independently.
Why it Matters
The annual tax list not only sheds light on the financial obligations of the UK’s wealthiest individuals but also serves as a barometer for the nation’s economic climate. The significant increase in tax contributions illustrates the impact of government policy changes and highlights the evolving makeup of high-income earners in the UK. Understanding who contributes to the national coffers can inform discussions on fiscal responsibility, economic equity, and the social contract between individuals and the state.
