The top 100 taxpayers in the UK paid £3.9 billion in tax for 2022/23, averaging £39 million each. This underscores the economy's reliance on a small group.
Wealth Club's study reveals the top 1,000 taxpayers contributed over 4% to HMRC's total annual income, highlighting significant disparities in tax contributions.
Davies warns that the ultra-wealthy are highly mobile, with 9,500 millionaires expected to leave the UK, which could significantly impact tax revenues.
Historically, taxation remains about maximizing revenue with minimal economic disruption, indicating a long-standing challenge for governments in policy formulation.
Collection
[
|
...
]