HMRC raking in £1.2bn from Surrey borough

Residents of ‘Britain’s Beverly Hills’ have the highest average income tax bills in the UK, collectively forking out almost £1.2bn to HM Revenue & Customs in the last year, an accountant says.

In fact, people residing in the borough of Elmbridge, which includes Esher, Weybridge and Walton-on-Thames in Surrey, pay an average of £16,100 in tax per year, according to UHY Hacker Young.

That means residents of the three leafy enclaves pay £11,702 more in income tax than the UK average of £4,398, and fork out more to HMRC than the residents of Newcastle and Cardiff combined, the accountancy firm said.

“People assume that foreign High-Net-Worths live exclusively in Knightsbridge and Chelsea, but actually the figures suggest many have moved out into Surrey,” said the firm’s Mark Giddens.

“Governments have attempted to boost the attractiveness of other regions in the UK to top earners…however, the pull of the South East, culturally, politically, and financially is still very strong for the highest earners.”

He added that even when the total tax payments by area are considered, tiny Elmbridge is still in the Top Ten districts for the highest average income tax bills per taxpayer (which is exclusively comprised of places in the South East), and is only out-ranked by the UK’s top cities.

Notable residents of Elmbridge, where one school charges over £30,000 in fees a year, include Elton John, Cliff Richard, Ringo Starr, Jenson Button and the late Russian billionaire Boris Berezovsky.

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Written by Simon Moore

Simon writes impartial news and engaging features for the contractor industry, covering, IR35, the loan charge and general tax and legislation.
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