Coates and Done families among the four largest UK taxpayers
The Times Tax List reveals bet365 trio slip one place while the Betfred brothers moved up to fourth as families pay more than £580m combined to the Treasury
Denise, John and Peter Coates, the owners of bet365, were the third-highest taxpayers in the UK last year, according to the latest edition of The Times Tax List.
The trio paid a total of £375.9m to the Treasury in 2023, falling one place in the rankings having paid £460.2m in 2022.
CEO Denise Coates – Britain’s richest self-made woman – was among 18 women to feature in this year’s tax rundown.
The Coates’ position in the list comes after recent filings with Companies House showed the online giant reported a 19% spike in revenue in the 52 weeks to 26 March 2023.
Revenue landed at £3.4bn for the reporting period, although administrative costs soared by £585.2m.
Topping the list once again is Moscow-born billionaire Alex Gerko with a tax bill of £664.5m, and who, according to The Times, has doubled his net worth in just one year.
Splitting Gerko and the Coates family for second place is Formula One tycoon Bernie Ecclestone, who stumped up £652.6m in tax after settling with HMRC over a long-running tax-related dispute on his overseas earnings.
Behind the Coates family, in fourth place, albeit some distance away in figures, is Betfred founders Fred and Peter Done.
The Done family paid £204.6m to the Treasury in 2023, which moved them up one place in the rankings after handing over £136.8m in tax in 2022.
Elsewhere, accountant, bookmaker and racehorse owner William Roseff, who has a 6.7% stake in bet365, fell to 46th from 41st in the list after paying £26.9m in tax.
In total, The Times Tax List comprised 100 individuals and/or families that paid taxes totalling £5.4bn, up 3% compared to last year.
The government also raised the top tax rate on dividends by 1.25 percentage points to 39.35% for the 2022-23 tax year.
This year marks the sixth edition of the tax list, with The Times noting the rankings take in corporation tax, dividend tax, capital gains tax, income tax, payroll taxes as well as gambling and alcohol duties.
The news of the Coates’ third-place finish follows last May’s report by The Sunday Times that placed the family at 16th in its annual Rich List.
The trio are estimated to have a collective fortune of more than £8.79bn.
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