The new Sunday Times Tax List shows that only one of the UK’s top ten taxpayers derives their income principally from property investment.
The list looks at the top 50 UK taxpayers, how much they pay, and at where they earn their taxable income from. It reveals that Baroness Howard de Walden was the only property investor in the top ten, paying £44.1m in tax last year.
The list is topped by Stephen Rubin, owner of the Pentland Group and majority shareholder in JD Sports who paid £181.6m in tax. Second on the list were Denise, John and Peter Coates, owners of bet365 who paid £156m.
The Howard de Walden estate is the freehold owner of most of the buildings in Marylebone, central London, an area of 92 acres.
That only one of the UK’s top ten taxpayers is a property investor may surprise some would-be property moguls. Of course, it could be the case that some of the others in the list have substantial but secondary incomes from property investment. It’s also likely to be the case that a lot of big UK property owners simply aren’t UK taxpayers.