Policy impact: Will Labour's tax changes keep bringing in more money, or will they speed up the exodus of rich people?

Labour's higher tax rates have increased short-term revenue from top earners, but experts warn that continued rises could accelerate wealthy individuals relocating to lower-tax jurisdictions like Dubai, Switzerland, Portugal, and the US, potentially reducing long-term UK tax receipts.

Migration trend: If more high-income people move abroad, what effect will that have on long-term tax receipts?

If more high-income individuals leave the UK, it could lead to a decline in personal tax revenue over time, even if their businesses continue contributing through corporation tax. This creates a debate about balancing revenue needs with making the UK attractive for wealth creators.

The list for next year: Will business owners stay on top, or will entertainers and athletes rise to the top?

Business owners currently dominate due to higher corporation tax and business profits, but rising earnings among entertainers and athletes (especially footballers and musicians) could see them climb higher next year if their income continues to grow significantly.

How the Treasury balances raising money with making the UK a good place for top taxpayers to live.

The Treasury must balance increasing revenue through higher taxes with policies that keep the UK competitive for high earners, such as maintaining attractive non-dom rules (now reformed), investment incentives, and overall economic stability to prevent wealth flight.

UK’s Richest Taxpayers Revealed as Betfred Founders Pay Record £400m

The Sunday Times has announced the UK's top 100 taxpayers, with gambling magnates Fred and Peter Done of Betfred topping the list for the first time, outperforming a slew of entertainers, businesspeople, and athletic icons. According to the annual Sunday Times Tax List, JK Rowling, Mo Salah, and Harry Styles are among the UK's top 100 taxpayers.

For the first time, the billionaire brothers behind gambling giant Betfred topped The Sunday Times Tax List 2026, beating out musicians, businesspeople, and sports stars. According to the list, Fred and Peter Done, who formed the Warrington-based company in 1967, contributed an estimated £400.1 million in taxes during the last year. According to the annual list, Fred and Peter Done, who formed the Warrington-based company in 1967, paid an estimated £400.1 million in tax last year. It came after their tax bill increased by nearly half from £273.4 million a year ago.

Why This News Matters:

This list shows who is really paying for the UK at a time when taxes are going up and the government's money is getting tighter. The fact that Fred Done and Peter Done, the founders of Betfred, are at the top of the Sunday Times Tax List shows that business owners are paying more and more taxes, not just famous people. It also shows how Labour's changes to tax policy are affecting who pays what. The fact that there are businesspeople, football players, and pop stars all in one place shows how rich the UK has become. At the same time, the fact that more and more rich people are leaving the UK adds to the debate about whether higher taxes could drive wealth out of the country.

Other High-Ranking Figures on the List

Alex Gerko, a financial trading entrepreneur, was second on the list, paying £331.4 million in taxes, followed by hedge fund head Chris Rokos, who paid £330 million. Billionaire businessman Mike Ashley ranked ninth on the list, contributing £175 million in taxes, while entrepreneur Sir James Dyson and Nik Storonsky, co-founder of payments firm Revolut, also appeared. Sir Tim Martin, 70, the founder of Wetherspoons, rated eighth on the list with a personal contribution of £199.7 million.

Meanwhile, Harry Styles joined the list in 54th place, paying £24.7 million in taxes. The former One Direction member and solo musician is slated to release his fourth studio album in March. Boxer Anthony Joshua ranked 100th and paid £11 million.

Two footballers made their debuts on the list: Manchester City's Erling Haaland in 72nd place, with an expected tax bill of £16.9 million, and Liverpool's Salah in 81st place, with an estimated bill of £14.5 million. Haaland, 25, is the youngest person to feature on the tax list.

Commentary on Diversity of Taxpayers

According to the report, the top 100 taxpayers paid a total of £5.758 billion in tax, an increase from £4.985 billion the previous year. Their higher tax payments, like many others on the list, are due to changes in corporation tax rates and other budgetary adjustments enacted by the Labour government to boost welfare expenditure.

Robert Watts, the list's compiler, underlined its growing variety, stating: "This is an increasingly varied list, with Premier League athletes and world-famous music artists standing alongside aristocrats and company owners selling pies, pillows, and 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."

Wealthy Individuals Leaving the UK

Six taxpayers appear on the list despite having left the UK in the last year, amid rumors of affluent individuals fleeing to avoid higher taxes under Labour or having their non-dom status withdrawn. These included Nik Storonsky, inventor of Revolut, Malcolm Healey of Wren Kitchens, and Eddie Hearn, a sports promoter.

According to Mr Watts, one in every nine people on the tax list no longer reside in the UK, preferring to live in Morocco, Dubai, Switzerland, Cyprus, Portugal, the United States, and the Channel Islands. "Clearly the tax listers who have moved offshore are still delivering huge sums to HM Treasury through their businesses, but the Chancellor would no doubt be raising even more money from these people had they chosen to stay put and remain liable for personal tax here."