Indian-origin retail brothers Simon, Bobby and Robin Arora have been ranked Britain’s 24th highest taxpayers in a top-50 list compiled by ‘The Sunday Times’.
The B&M chain of discount stores owned by the Arora family, paid 25.6 million pounds towards their 2017-18 tax bill against wealth estimated at 2,300 million pounds.
Stephen Rubin becomes UK’s next highest tax payer on the list who is a sportswear businessman, who paid 181.6 million pounds in tax in 2017-18 against a wealth estimate of 2,820 million pounds.
“These are the taxman’s best friends those who make the inaugural ‘Sunday Times Tax List’ based on the taxes due on their business profits, share sales, dividend income, house purchases and, where known, personal income through their salaries,” noted the Sunday Times Magazine.
The Arora brothers, who built the business, own just 15 per cent of it, with 49-year-old Simon as its chief executive.
“We ascribe to them a share of the business and dividend taxes on this basis, together with tax due on the GBP 1.3 million pay package of chief executive Simon Arora,” the report noted.
As UK’s January 31 income tax return filing deadline nears, the newspaper released its first-ever list ranking top 50 tax contributions. The country’s top three taxpayers are Bet365 owned by Denise, John and Peter Coates and vacuum clean entrepreneur Sir James Dyson who make up GBP 156 million and 127.8 pounds million respectively.
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Also on the list are the owner of Home Bargains, Tom Morris and his family (39.2 million pounds); Sports Direct owner Mike Ashley (30.4 million pounds); well-known bakers the Warburton family (14.5 million pounds); and footballer David and wife Victoria Beckham in the 49th place (12.7 million pounds).