Denise Coates, the founder of Bet365, has recently been ranked third in the UK’s list of top taxpayers, as per the latest Times’ Tax List. This represents a drop from her previous position, while Fred and Peter Done of Betfred have moved up to fourth place.
Leading the list for the second year in a row is Alex Gerko, founder of XTX Markets, who paid a substantial £664.5m in taxes, a significant increase from his £487.4m payment in 2022. This increase aligns with the near doubling of his net worth within a year.
Bernie Ecclestone, known for his involvement in Formula 1, secured the second position by paying £652.6m in tax. However, this figure isn’t entirely indicative of his 2023 activities, as it includes a payment of £650.0m in tax and penalties to HM Revenue and Customs (HMRC) to avoid incarceration. This payment was necessitated by Ecclestone’s failure to declare over £400.0m held in a Singapore trust in 2015.
Other notable figures in the top 10 include Sir Tim Martin, the founder of Wetherspoons, who ranked fifth with a tax payment of £167.1m. Sir James Dyson of Dyson was sixth with £156.0m, and the Weston family, associated with Primark and Fortnum and Mason, was seventh with £146.2m. Mike Ashley of Sports Direct, John Bloor of Triumph Motorcycles, and John Timpson, a cobbler tycoon, were also in the top ten, paying £139.4m, £118.1m, and £99.8m in taxes, respectively.