JK Rowling and Ed Sheeran among UK’s highest tax payers

Confidence UbaniJanuary 26, 20241 Mins read303

JK Rowling and Ed Sheeran have emerged as some of the United Kingdom’s highest taxpayers. The Sunday Times recently revealed that these two icons have significantly bolstered public finances with their substantial tax contributions in 2023.

JK Rowling, the celebrated author of the Harry Potter series, stands out with a net worth of £875 million. She contributed a substantial £40 million to the UK’s tax coffers, securing the 31st position on the list.

Just a notch below, at 32nd place, is the globally acclaimed musician Ed Sheeran, with a net worth of £52 million. He paid over £36 million in taxes in 2023, a testament to his soaring career and ethical approach to earnings. Sheeran’s philosophy towards money, as he revealed in an interview with OK! Magazine centers around generosity and support for those in need.

“It is ‘earn a penny, spend a penny’ with me. As soon as it comes in, it goes out. I don’t have that much value on it. I place more value on my friends and family being OK,” he said. “A lot of my money goes to charity or to children’s hospitals near where I live. I have enough to be comfortable and the rest goes to help people.”

These contributions by Ed Sheeran and JK Rowling are part of a larger £5.35 billion added to public finances by the top 100 taxpayers, according to The Sunday Times.

Other famous folks on The Sunday Times list include Anthony Joshua, the heavyweight boxer, who snagged the 88th spot out of 100.

At the tippy-top of the list is Alex Gerko, a Russian-born money whiz, who shelled out around £664.5 million in taxes for the 2023 financial year – that’s like coughing up more than £1.8 million every single day! Meanwhile, Bernie Ecclestone, the ex-chief of Formula 1, secured the second spot by paying £650 million in taxes and penalties to HMRC. The 93-year-old made headlines when he didn’t spill the beans on £400 million stashed in a trust in Singapore back in 2015. As reported by BBC, his hefty tax payment likely helped him dodge time behind bars.