Imagine a list that reveals who’s truly footing the bill for the UK’s public services—a list that highlights the unsung heroes of the economy. Two Northern Irish families have just been named among the top 100 UK taxpayers, contributing a staggering £35 million to the public purse. But here’s where it gets even more intriguing: these families, the Barnetts and the Montgomerys, are rubbing shoulders with the likes of popstar Harry Styles, football legends Mo Salah and Erling Haaland, and business titans like Wetherspoon’s chairman Tim Martin, who paid nearly £200 million in taxes last year. And this is the part most people miss—these contributions aren’t just about personal wealth; they’re a testament to the success of businesses that employ thousands and drive economic growth.
William Barnett and his family, ranked 58th, run a fourth-generation business, W&R Barnett, with interests spanning grain, animal feed, packaging, oils, and molasses. Their tax contribution of £23 million is no small feat, especially when you consider their pre-tax profits soared to nearly £67 million in the year ending July 2024. Meanwhile, Harold Montgomery and his family, ranked 96th, contribute £11.8 million through their logistics empire, Montgomery Transport, which employs over 2,000 people. But here’s the kicker: despite selling their trailer company, Montracon, last year, their success continues to fuel public finances.
The Sunday Times Tax List, published annually, doesn’t shy away from controversy. It boldly names Fred and Peter Done of Betfred as the top taxpayers, contributing over £400 million in just 12 months. But what’s truly eye-opening is the diversity of this list. From aristocrats to pie sellers, Premier League stars to hedge fund managers, it’s a snapshot of modern wealth. Yet, one in nine of these taxpayers no longer reside in the UK, opting for tax-friendly havens like Monaco or Dubai. This raises a provocative question: Are we losing out on potential tax revenue by not keeping these high-net-worth individuals on home soil?
The list also highlights the impact of policy changes. With corporation tax jumping from 19% to 25% in 2023-24, the top 100 taxpayers paid 15.5% more than the previous year. But is this sustainable? And what does it mean for businesses and the economy? Robert Watts, the list’s compiler, notes that these individuals and families are ‘hidden heroes,’ quietly plugging vast sums into public finances. But as the debate over tax fairness heats up, one has to wonder: Are we doing enough to keep these contributors—and their businesses—rooted in the UK?
As you ponder this, consider this final thought: If these families and individuals are the backbone of our public services, how can we ensure their contributions continue to thrive? Let’s hear your thoughts in the comments—do you think more should be done to retain these taxpayers, or is their departure an inevitable part of a globalized economy?
