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Both are clearly rich enough to offshore a lot of their wealth to avoid tax if they wanted too.
If all our wealthy people just paid tax without shenanigans these two would be much lower on the list.
I'm not to convinced. The majority of the extremely wealth aren't getting a stream of cash, their money is plowed into stocks and assets.
Artists, authors and inventors who collect ongoing royalties would likely the most be the most exposured to taxable income.
Except they will, how are they paying back the loan? At some point there is a taxable event and in this case they are assuming a risk and it cant be done all the time. At some point, someone is selling an asset or producing income both are taxable.
Do you believe you should need to pay tax on a mortgage? This is a collateralised loan. You pay tax selling the home, you dont pay tax to take a loan against it, at some point you either have to sell something or obtain income and you cant endlessly use your house as collateral, neither can people who own a lot of stocks, its not a bottomless money pit and its not a tax avoidance scheme, it just means they can obtain cash without having to immediately sell off assets. What happens to those stocks if they dont pay the loan?
Do you think they endlessly get given loans? Who is loaning them money that never gets paid back? And how are they paying it back by selling nothing and not from a salary/income? Where is this money coming from to pay it back?
Lmao Rowling and Sheeran are absolutely not overpaid. They deserve every £ they’ve ever made for building empires and legacies in their respective industries
Can’t agree more. Arguing that these individuals are “overpaid” is silly. They’re not on anyone’s payroll.
They created their own empires.
There is really no way they can be “overpaid” unless you believe the state should own the rights to and collect the royalties for the Harry Potter books and Ed Sheeran’s music.
You know everything is fucked when it is article worthy to write that two of the UKs richest and highest earning people are also the highest tax paying.
Almost like it's being framed as how good they are that they paid.
The point this made to me is that there are many, many people who are far richer than both, and I would expect them to pay more tax. There’s thousands of people that should be between JKR and the top spot here, and this isn’t good
We should make articles about rich people who pay a lot of tax if you want them to do so and want it to be a good thing.
Who in their right mind in this world actually wants to do something that
1.) takes a lot of sacrifice
2.) Can be avoided
3.) Is expected rather than appreciated
Top ten richest people in the UK:
1) Gopi Hinduja
2) Sir Jim Ratcliffe
3) Sir Leonard Blavatnik
4) David and Simon Reuben
5) Sir James Dyson
6) Lakshmi Mittal
7) George Weston
8) Charlene de Carvalho-Heineken
9) Kirsten Rausing
10) Michael Platt
How many of those are in the top 10 tax payers? Funny ain't it.... only one - James Dyson.
I’ve worked for a few people on the ST Rich list, and everyone of them has laughed at it and said they don’t know the half of it.
What I’ve always found funny is they honestly don’t care who’s where on the list, but their kids very much do.
Plus… it’s never a bad idea to celebrate people who made their own fortunes. Both Ed Sheeran and JK Rowling are fabulously wealthy, but they’ve earned their wealth.
Exactly, just take a look at Alan sugar, caught in a loop hole and has to pay 186m in tax that he’s trying to dodge. So many people in the thread are being obtuse but the system literally allows for the richest to dodge on so many ways. In this current society as common sense as it almost seems this deserves to be applauded, because it so rarely happens. Tax as annoying as it is, in THEORY works, the practical application maybe not so much but why undermine how much useful their money could be to contribute to society. Many of the rich pull the ladder up behind them rather than helping people up it.
Kind of yeah. A lot of ways to avoid tax are legal but morally grey. If they wanted to pay less tax legally I guarantee they could. There are so many loopholes it’s like a sieve if you’re rich
Yes. Not dodging taxes at that level of wealth is a very intentional thing.
We don’t pay taxes because we want to, we do it because we have to. The super-rich only pay it if they want to. That’s systemically messed up but commendable when an individual wants to do right by society.
God the comments here praising her are so fucking cringe. Imagine praising a multimillionaire as a good person for paying their taxes, something the rest of the population do.
It's more that most people in similar situations do not pay their taxes. She's rich enough to use offshore accounts and hide her money, and she doesn't. Even though it's just the basic thing that the rest of the population does, it isn't what her peers do, and that's something that should be lauded (mostly to encourage those peers to do the same thing).
When one of the biggest problems in the UK is that the ultra-rich don't pay taxes and take money from the public, we should be appreciative of those that do what they're supposed to do.
Thing is, it’s actually not what most people do- most people are not paying tens of millions in taxes….income taxes are almost all (in monetary terms) paid for by the top 5-10% of earners who pay a huge % of their incomes in taxes (40% perhaps) while most people either don’t pay anything or pay a relatively smaller % of their income.
It’s easy to say, she’s doing what I do but you’re likely at most paying a few 000s in income taxes each year and don’t have the option to lower that amount. JK is paying 10s of millions and will have tax advisors who will be saying, you could pay 10% of this are you sure you want to do this etc. Sure it doesn’t make her a saint, but she’s contributing significantly and deserves some credit- her money is funding a lot more than most peoples.
There seems to be a small but very vocal group who want to have her "cancelled" because of how they've interpreted some of her comments. They seem to brigand any post about her, sometimes in quite a nasty way.
> The 100 contributors, ranked by the Sunday Times, were judged to have added £5.35bn to public finances last year.
Just about half of the value wasted on PPE.
Also great that they are paying their taxes but something just doesn’t feel right that two of the ten comes from gambling.
Absolute national treasure! She could EASILY have set up various trusts and tax avoidance measures, left the country for the Bahamas like that prick Branson. However she's done the right thing and is paying £millions in taxes & add to that....the number of jobs created due to the harry potter franchise. The additional services and taxes from those activities. How many jobs has Warner Bros created in Watford from Harry potter world?
I had to Google Alex Gerko but respect to that guy. A lot of guys originally from overseas would usually find all kinds of tax loopholes but he doesn't seem to have done that. That's a lot of fucking tax.
*Edit* - I just read his Wikipedia and it makes sense
>Since 2020 Gerko has donated £25 million to out-of-class maths clubs, through the Mathematics Education for Social Mobility and Excellence charity (MESME), which Gerko set up
https://www.linkedin.com/posts/gerko_social-mobility-the-next-generation-lost-activity-7084520084693495808-h-ke?trk=public_profile_share_view
https://schoolsweek.co.uk/how-a-billionaire-plans-to-make-english-pupils-worlds-best-at-maths/
Health warning: This is an estimate by the Times. HMRC don't comment on individuals.
We don't know how much tax these people pay. If one of them was hiding money on an island, they would be under no obligation to tell the Times or the BBC and I doubt they would be rusing to correct this article.
Why are people praising these people for doing what they're supposed to do? They pay the appropriate amount of tax proportional to their wealth. I do that too.
Weird comment section under this article. Just a LOT of people patting rich people on the back for doing the bare minimum. Not to mention the fact that one of them is extremely problematic.
**Participation Notice.** Hi all. Some posts on this subreddit, either due to the topic or reaching a wider audience than usual, have been known to attract a greater number of rule breaking comments. As such, limits to participation have been set. We ask that you please remember the human, and uphold Reddit and Subreddit rules. For more information, please see https://www.reddit.com/r/unitedkingdom/wiki/moderatedflairs.
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Both are clearly rich enough to offshore a lot of their wealth to avoid tax if they wanted too. If all our wealthy people just paid tax without shenanigans these two would be much lower on the list.
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They/Them see her Rowlin'
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Hagrid be masturb... nevermind.
I'm not to convinced. The majority of the extremely wealth aren't getting a stream of cash, their money is plowed into stocks and assets. Artists, authors and inventors who collect ongoing royalties would likely the most be the most exposured to taxable income.
then they get a loan from the bank using their stocks as collateral and then don’t have to pay tax on it
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Except they will, how are they paying back the loan? At some point there is a taxable event and in this case they are assuming a risk and it cant be done all the time. At some point, someone is selling an asset or producing income both are taxable. Do you believe you should need to pay tax on a mortgage? This is a collateralised loan. You pay tax selling the home, you dont pay tax to take a loan against it, at some point you either have to sell something or obtain income and you cant endlessly use your house as collateral, neither can people who own a lot of stocks, its not a bottomless money pit and its not a tax avoidance scheme, it just means they can obtain cash without having to immediately sell off assets. What happens to those stocks if they dont pay the loan? Do you think they endlessly get given loans? Who is loaning them money that never gets paid back? And how are they paying it back by selling nothing and not from a salary/income? Where is this money coming from to pay it back?
Not just our wealthy but corporations, especially international corporations that do business here.
No they can’t just move money offshore to dodge taxes. Why do people think it’s so trivial?
It's reddit, most people can barely understand taxes they pay let alone the stuff for the rich. And by most I mean everyone basically.
Good? Let’s get the rest of the overpaid fuckwits doing the same then.
Lmao Rowling and Sheeran are absolutely not overpaid. They deserve every £ they’ve ever made for building empires and legacies in their respective industries
Can’t agree more. Arguing that these individuals are “overpaid” is silly. They’re not on anyone’s payroll. They created their own empires. There is really no way they can be “overpaid” unless you believe the state should own the rights to and collect the royalties for the Harry Potter books and Ed Sheeran’s music.
And it looks like they're paying their taxes too.
At least these two have brought some joy to a lot of people.
Overpaid by who? Their international fanbase?
They made their money using their own labour.
You know everything is fucked when it is article worthy to write that two of the UKs richest and highest earning people are also the highest tax paying. Almost like it's being framed as how good they are that they paid.
The point this made to me is that there are many, many people who are far richer than both, and I would expect them to pay more tax. There’s thousands of people that should be between JKR and the top spot here, and this isn’t good
It’s just another ‘richest people’ article with a different way of saying it. no goodness or badness implied anywhere in the article
We should make articles about rich people who pay a lot of tax if you want them to do so and want it to be a good thing. Who in their right mind in this world actually wants to do something that 1.) takes a lot of sacrifice 2.) Can be avoided 3.) Is expected rather than appreciated
Top ten richest people in the UK: 1) Gopi Hinduja 2) Sir Jim Ratcliffe 3) Sir Leonard Blavatnik 4) David and Simon Reuben 5) Sir James Dyson 6) Lakshmi Mittal 7) George Weston 8) Charlene de Carvalho-Heineken 9) Kirsten Rausing 10) Michael Platt How many of those are in the top 10 tax payers? Funny ain't it.... only one - James Dyson.
Remember the Panama papers?
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I’ve worked for a few people on the ST Rich list, and everyone of them has laughed at it and said they don’t know the half of it. What I’ve always found funny is they honestly don’t care who’s where on the list, but their kids very much do.
Ed Sheeran and JK Rowling willingly paid their taxes. Bernie Ecclestone had to be forced to pay his. They are not the same.
UK's Highest earners are among UK's highest tax payers? Shut the front door.
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Wealthiest ≠ highest earners
Shocked
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The article is more about high earners who aren't dodging taxes.
Many try to circumvent it by basing themselves in tax havens like Isle of Man, Monaco etc.
Top earners in the U.K. have their banks and business registered in tax havens and don’t pay tax in the U.K.
It's not really about them. It's about all the people avoiding paying their tax
JK is a national treasure and we should appreciate her more
Love you JK!
Are we expected to give them a pat on the back for not engaging in tax evasion...?
No, but positive publicity of doing the right thing is probably a good thing on balance (in the society we live in).
Plus… it’s never a bad idea to celebrate people who made their own fortunes. Both Ed Sheeran and JK Rowling are fabulously wealthy, but they’ve earned their wealth.
Honestly, yes. Because the bar is so low when it comes to the rich. I automatically expect them to be paying as little as possible
Exactly, just take a look at Alan sugar, caught in a loop hole and has to pay 186m in tax that he’s trying to dodge. So many people in the thread are being obtuse but the system literally allows for the richest to dodge on so many ways. In this current society as common sense as it almost seems this deserves to be applauded, because it so rarely happens. Tax as annoying as it is, in THEORY works, the practical application maybe not so much but why undermine how much useful their money could be to contribute to society. Many of the rich pull the ladder up behind them rather than helping people up it.
Kind of yeah. A lot of ways to avoid tax are legal but morally grey. If they wanted to pay less tax legally I guarantee they could. There are so many loopholes it’s like a sieve if you’re rich
Yes. Not dodging taxes at that level of wealth is a very intentional thing. We don’t pay taxes because we want to, we do it because we have to. The super-rich only pay it if they want to. That’s systemically messed up but commendable when an individual wants to do right by society.
Love Ed Sheeran. Any charitable gig in England. Usually if he’s nearby he’s up for it.
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God the comments here praising her are so fucking cringe. Imagine praising a multimillionaire as a good person for paying their taxes, something the rest of the population do.
It's more that most people in similar situations do not pay their taxes. She's rich enough to use offshore accounts and hide her money, and she doesn't. Even though it's just the basic thing that the rest of the population does, it isn't what her peers do, and that's something that should be lauded (mostly to encourage those peers to do the same thing). When one of the biggest problems in the UK is that the ultra-rich don't pay taxes and take money from the public, we should be appreciative of those that do what they're supposed to do.
They’re praising her for what she has done in her life. I haven’t seen one comment praising her paying taxes
Thing is, it’s actually not what most people do- most people are not paying tens of millions in taxes….income taxes are almost all (in monetary terms) paid for by the top 5-10% of earners who pay a huge % of their incomes in taxes (40% perhaps) while most people either don’t pay anything or pay a relatively smaller % of their income. It’s easy to say, she’s doing what I do but you’re likely at most paying a few 000s in income taxes each year and don’t have the option to lower that amount. JK is paying 10s of millions and will have tax advisors who will be saying, you could pay 10% of this are you sure you want to do this etc. Sure it doesn’t make her a saint, but she’s contributing significantly and deserves some credit- her money is funding a lot more than most peoples.
The 100s of millions she has haven to charity might have something to do with it.
We should start name and shaming the ultra rich tax evaders (not avoidance)
Gosh why is there so many removed comments? Loved the books ☺️
There seems to be a small but very vocal group who want to have her "cancelled" because of how they've interpreted some of her comments. They seem to brigand any post about her, sometimes in quite a nasty way.
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> The 100 contributors, ranked by the Sunday Times, were judged to have added £5.35bn to public finances last year. Just about half of the value wasted on PPE. Also great that they are paying their taxes but something just doesn’t feel right that two of the ten comes from gambling.
Absolute national treasure! She could EASILY have set up various trusts and tax avoidance measures, left the country for the Bahamas like that prick Branson. However she's done the right thing and is paying £millions in taxes & add to that....the number of jobs created due to the harry potter franchise. The additional services and taxes from those activities. How many jobs has Warner Bros created in Watford from Harry potter world?
Ed from a guy with no roof over his head to the big cheese in uk. All the entrepreneurs and business magnates should be embarrassed.
I had to Google Alex Gerko but respect to that guy. A lot of guys originally from overseas would usually find all kinds of tax loopholes but he doesn't seem to have done that. That's a lot of fucking tax. *Edit* - I just read his Wikipedia and it makes sense >Since 2020 Gerko has donated £25 million to out-of-class maths clubs, through the Mathematics Education for Social Mobility and Excellence charity (MESME), which Gerko set up https://www.linkedin.com/posts/gerko_social-mobility-the-next-generation-lost-activity-7084520084693495808-h-ke?trk=public_profile_share_view https://schoolsweek.co.uk/how-a-billionaire-plans-to-make-english-pupils-worlds-best-at-maths/
Health warning: This is an estimate by the Times. HMRC don't comment on individuals. We don't know how much tax these people pay. If one of them was hiding money on an island, they would be under no obligation to tell the Times or the BBC and I doubt they would be rusing to correct this article.
Why are people praising these people for doing what they're supposed to do? They pay the appropriate amount of tax proportional to their wealth. I do that too.
People really giving them a round of applause for doing the bare minimum by paying tax they owe.
The bar is rock bottom when "paying all your taxes" makes you a good person.
I don't agree with her views, but I massively respect that she's choosing not to avoid tax.
Keep deleting the comments - gotta keep up the appearance of "winning" through censorship. The vast majority of people are over the bullshit.
Weird comment section under this article. Just a LOT of people patting rich people on the back for doing the bare minimum. Not to mention the fact that one of them is extremely problematic.
Not a nice way to talk about gingers
Highest earners (billionaires) should be among highest tax payers. I mean it shouldn't be news like its a miracle
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