Beverley Hills of Britain strengthens position as the UK’s tax hotspot

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
2 Windsor (Berks) 14,000 55,300
3 Beaconsfield (Bucks) 13,900 55,400
4 Chesham and Amersham (Bucks) 13,800 54,800
5 Sevenoaks (Kent) 13,200 52,700
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
11 Maidenhead (Berks) 11,200 48,300
12 Reigate (Surrey) 11,200 48,300
13 Henley (Oxfordshire) 10,700 47,500
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
17 Guildford (Surrey) 10,300 45,500
18 Tunbridge Wells (Kent) 10,300 44,700
19 Aberdeen South 10,200 46,100
20 North East Hampshire (Fleet, Hook) 9,860 44,300
21 East Surrey (Caterham, Oxted, Godstone) 9,780 43,800
22 London* 9,760 43,300
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
27 Woking (Surrey) 9,230 43,100
28 The Cotswolds 9,160 42,300
29 Tonbridge and Malling (Kent) 9,010 41,400
30 West Aberdeenshire and Kincardine 9,000 42,800
UK Average 4,820 29,600

*Tax year 2013?/14?, most recent data available

**Aggregated figures