This publication was covered in City AM, The Guardian and Daily Telegraph on 3 May 2016.
- Amount of Income Tax paid up by 5% in just a year
- 26 of Top 30 constituencies in ‘Stockbroker Belt’
According to our research, residents in Elmbridge in Surrey are paying the highest amount of Income Tax in the UK.
The average Income Tax payment in Elmbridge had increased to £17,800 this year*, up 5% from £16,900 last year.
Elmbridge’s average income has hit £64,500, up 8% from £59,600 in 2012/13 and over double the UK average of £29,600.
Elmbridge has become a hub for the UK’s high net worth’s and sporting and entertainment stars. Dubbed as the ‘Beverley Hills of Britain’, it has been home to a number of high profile celebrities including Elton John, Sir Cliff Richard, Frank Lampard and Andy Murray.
Strong transport links with London and the proximity to Heathrow Airport opens up Elmbridge to international investment, a popular area for wealthy Russian entrepreneurs including the late Boris Berezovsky and Alexander Perepilichnyy.
Elmbridge is also home to the esteemed The American School in England and other international colleges which draws in high earning US bankers and executives into the area. Our research shows that the areas surrounding London, also known as the ‘Stockbroker Belt’, made up 26 out of the Top 30 constituencies, paying the highest amount of Income Tax.
The rest of the top five highest Income Tax paying areas are:
- Windsor, £14,000, up 14% from £12,300;
- Beaconsfield, 13,900, up 13% from 12,300;
- Chesham and Amersham, £13,800, up 5% from £13,200; and
- Sevenoaks, £13,200, up 20% from £11,000.
London** held the same position as last year, at number 22 in the Top 30, despite an increase of 9%, from £8,980 to £9,760.
Mark Giddens, head of private client services, says: “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.”
Constituencies surrounding Manchester ranked high in Top 30
Only four out of the Top 30 were constituencies outside of the South East of England, with two of these surrounding the city of Manchester. These included Altrincham and Tatton, both of which have good transport links with Manchester and are well-known celebrity hotspots, home to many Premiership footballers and managers including Sir Alex Ferguson, Peter Crouch and Rio Ferdinand.
The average Income Tax bill in Altrincham is £10,400 with a gross income of £45,900, whilst in Tatton the average Income Tax is bill is £10,600 with a gross income of £46,000.
Mark Giddens says, “Manchester is growing in importance to the UK economy and is seen as a good alternative business hub to London. The rising incomes in these areas indicate that Manchester’s economy is going from strength to strength.”
Top 30 parliamentary constituencies with the highest average Income Tax bills per taxpayer (key town/county names in brackets)
|Area||Average Income Tax (£)||Average Gross Income (£)|
|1||Elmbridge (Esher and Walton, Surrey)||17,800||64,500|
|4||Chesham and Amersham (Bucks)||13,800||54,800|
|6||South West Surrey (Farnham, Godalming)||12,900||52,700|
|7||Mole Valley (Surrey: Dorking & Leatherhead)||12,700||52,100|
|8||South West Hertfordshire (Chorleywood, Tring, Berkhamstead)||12,000||49,700|
|9||Runnymede and Weybridge||11,900||48,600|
|10||Hitchin and Harpenden (Herts)||11,700||49,600|
|14||Tatton (Cheshire: Alderley Edge, Wilmslow, Knutsford)||10,600||46,000|
|15||Hertsmere (Hertfordshire: Elstree, Potters Bar, Bushey)||10,400||46,000|
|16||Altrincham and Sale West (Greater Manchester)||10,400||45,900|
|18||Tunbridge Wells (Kent)||10,300||44,700|
|20||North East Hampshire (Fleet, Hook)||9,860||44,300|
|21||East Surrey (Caterham, Oxted, Godstone)||9,780||43,800|
|23||Epping Forest (Essex: Waltham Abbey, Epping, Chigwell)||9,730||43,400|
|24||Brentwood and Ongar (Essex)||9,720||44,000|
|25||St Albans (Herts)||9,600||44,000|
|26||Saffron Walden (Essex)||9,480||42,800|
|29||Tonbridge and Malling (Kent)||9,010||41,400|
|30||West Aberdeenshire and Kincardine||9,000||42,800|
*Tax year 2013?/14?, most recent data available