‘Beverley Hills of Britain’ residents pay UK’s highest income tax, say experts

Averge income in stockbroker belt twice that of rest of UK
Averge income in stockbroker belt twice that of rest of UK

People living in Elmbridge - the so-called “Beverley Hills of Britain” - are paying the highest amount of income tax in the UK, according to research.

The Surrey borough’s popularity with celebrities and the super-rich caused the average income tax payment to hit £17,800 in 2013/14, up 5% from £16,000 the year before, the study by UHY Hacker and Young found.

The research by the national group of accountants and business advisers was sourced from the most recent available figures.

The study added that Elmbridge’s average income climbed 8% to £64,500, compared with £59,600 in 2012/13, which is more than double the UK average of £29,600.

The area has become the stomping ground for high-net worth’s and sporting stars, including Frank Lampard, Andy Murray and singer Sir Elton John.

It said the top five highest income tax paying areas also included: Windsor £14,000, up 14%; Beaconsfield £13,900, up 13%; Chesham and Amersham £13,800, up 5%; Sevenoaks £13,200, up 20%.

The study comes after new figures from the Institute of Fiscal Studies revealed on Wednesday that the top 1% of earners will pay almost a third of income tax by 2020, while the proportion of adults paying income tax across the UK slipped to 56.2% last year, down from 65.7% in 2007/8.

Mark Giddens, head of private client services at UHY Hacker Young, said: “Elmbridge is a sought-after residential area for high-earning celebrities and city brokers. With a number of huge properties with large private grounds, it is a hotspot for wealthy city workers wanting to escape London.”

The research showed that areas surrounding, known as the Stockbroker Belt, made up 26 of the top 30 constituencies paying the highest amount of income tax.

But just four of the top 30 were constituencies outside of the south east of England, with two - Altrincham and Tatton - bordering the city of Manchester.