In the intricate landscape of UK taxation, the names Fred and Peter Done, the minds behind Betfred, and Denise, John, and Peter Coates, the proprietors of bet365, stand tall as two of the nation’s top five highest taxpayers.
Sitting firmly in the fourth position, the Done brothers exhibit a commendable financial commitment, surpassing renowned figures such as Sir James Dyson and the Westons. Their tax payment of £204.6 million is a testament to their substantial contribution to the UK’s fiscal reservoir.
In the esteemed third place, the Coates family, with Denise, John, and Peter at the helm, outpaces even the owner of JD Wetherspoons, Sir Tim Martin. Their remarkable £375.9 million tax payment places them among the elite in the nation’s tax landscape.
The synergy between Betfred and bet365 is evident in their combined tax payment of £580.5 million, a staggering financial dedication to the UK Government. Fred and Peter Done’s £204.6 million and the Coates family’s £375.9 million exemplify a harmonious collaboration in contributing to the nation’s welfare.
Denise Coates, the driving force behind bet365, earned the prestigious title of Britain’s highest taxpayer in 2019, having paid an impressive £276 million in taxes. Her consistent presence among the top taxpayers underscores the Coates family’s enduring commitment. Despite a significant pay cut of £170 million in 2021, Denise Coates retained her prominent position as one of the highest taxpayers, showcasing resilience and unwavering dedication to fiscal responsibilities.
Even though bet365 has stepped down from its top taxpayer position, the company continues to wield significant financial influence, boasting an impressive profit of £3.39 billion in 2023. This signifies a noteworthy year-on-year growth of 19%. Nevertheless, the disclosed operating loss of £24.5 million has sparked conjecture regarding the contributing factors, with increased expenditures throughout the fiscal year emerging as a plausible explanation.
While Betfred’s 2023 earnings are yet to be officially disclosed, the company experienced notable growth throughout the year. Initiatives such as the launch in the US state of Virginia and the introduction of a new sportsbook in collaboration with Mohegan Sun in Vegas underscore Betfred’s strategic expansion efforts. In an exclusive conversation featured in Gambling Insider, CEO Joanne Whittaker shared insights into her vision for the company and her collaborative journey with Fred Done.
Beyond the realm of business magnates, the UK’s top taxpayers list boasts familiar faces such as JK Rowling and Ed Sheeran. Their substantial contributions of £40 million and £36 million, respectively, secure them positions as the 31st and 32nd highest taxpayers in the country, demonstrating the diverse backgrounds of those contributing to the nation’s financial well-being.
The inclusion of Betfred and bet365 owners among the UK’s highest taxpayers reflects not only their financial prowess but also their commitment to national fiscal responsibilities. The collective impact of these contributions from industry leaders shapes the nation’s economic landscape.
