Businessman William Barnett and his family have been named NI’s biggest taxpayer, with contributions of £18.8m, according to the annual Sunday Times Tax List.
Eoin McCann and his family, who own Magherafelt construction firm FP McCann, are also listed for the first time with tax paid of £14.4m.
The Barnetts are placed at number 62 in the list, with the McCanns following at number 77.
Primark’s owners, the Weston family, re-entered the list at number seven with a reported £146m in tax contributions.
Pub tycoon Sir Tim Martin, who went to school in Belfast, and the family of Wrightbus owner Jo Bamford, also made the list of top 20 UK taxpayers.
The Tax List of 2024 puts the JD Wetherspoon chairman at number five, with £167m paid in tax.
Sir Tim told The Sunday Times it was “vitally important” that more companies reported all the tax they paid.
“Without this perspective people may become more cynical about free enterprise, which is the vital engine of prosperity, and thereby freedom, for democratic societies,” he added.
Wetherspoons boss Sir Tim Martin was fifth on the list
Jo Bamford senior, Lord Bamford and their family were listed at number 17.
Equipment giant JCB, which is owned by Lord Bamford, contributed £67.8m in taxes in the last 12 months, according to The Sunday Times.
The list was again topped by Moscow-born billionaire Alex Gerko of XTX Markets, who contributed over £664m.
William Barnett and his family business W&R Barnett, which operates out of Belfast Harbour and has interests in molasses, animal feed, grain and other items, are number 62 on the overall list.
FP McCann was listed for the first time, after reporting a revenue of £387.6m during 2022. The family-run company has been in business for more than 40 years, operating in building and civil engineering, quarrying, house building and the manufacture of construction products.
In 1946, an earlier William Barnett, the co-founder of W&R Barnett, bequeathed his house and grounds close to Shaw’s Bridge in the south of the city to Belfast Corporation. It is now called Malone House and the grounds are still known as Barnett Demesne.
According to the list, 100 individuals and families have each paid £5.3bn of tax either personally or through their business. This is 3.3% more than a year ago.
Construction was the best represented sector of the economy with 12 of the individuals and companies listed owing their wealth to the sector.
Nine were from the property world, including the centuries-old dynasties led by the Earl of Cadogan and the Duke of Westminster.
The Sunday Times said that to compile the list, it had included corporation tax, dividend tax, capital gains tax, income tax and payroll taxes as well as gambling and alcohol duties.
The newspaper added: “We consider a person or family’s share of a business’s taxes to be the same as the percentage of the company they own.”
Gambling billionaire Denise Coates, Specsavers founder Dame Mary Perkins and retailer Chrissie Rucker are among 18 women to appear in this year’s rankings.
https://news.google.com/rss/articles/CBMigwFodHRwczovL3d3dy5iZWxmYXN0dGVsZWdyYXBoLmNvLnVrL2J1c2luZXNzL25vcnRoZXJuLWlyZWxhbmQvbW9uZXkvdHdvLW5pLWJ1c2luZXNzZXMtcmV2ZWFsZWQtYXMtdG9wLXVrLXRheC1wYXllcnMvYTIxMjY0ODc2ODIuaHRtbNIBAA?oc=5
2024-01-26 07:01:00Z
CBMigwFodHRwczovL3d3dy5iZWxmYXN0dGVsZWdyYXBoLmNvLnVrL2J1c2luZXNzL25vcnRoZXJuLWlyZWxhbmQvbW9uZXkvdHdvLW5pLWJ1c2luZXNzZXMtcmV2ZWFsZWQtYXMtdG9wLXVrLXRheC1wYXllcnMvYTIxMjY0ODc2ODIuaHRtbNIBAA
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