The brother duo behind the UK betting store chain Betfred has been named the UK’s greatest taxpayer for the primary time.
Brothers Fred and Peter Executed, founders of bookmaker chain Betfred, have been named within the high spot of The Sunday Times Tax List, a round-up of the UK’s highest-paying taxpayers in 2025. The brothers paid £400.1 million ($547.7 million) tax during the last yr, coming in forward of assorted different wealthy names and households, together with Harry Kinds, aristocrats, and entrepreneurs.
However he's proper in saying the UK does have a billionaire drawback.
Too lots of them are leaving. We want them to remain, make investments, create jobs – and pay tax.
At the moment's Sunday Occasions names the highest 100 taxpayers. https://t.co/BYxziCcXCR https://t.co/QLF357Sc2A pic.twitter.com/bzrtArOXA2
— Fraser Nelson (@FraserNelson) February 1, 2026
In complete, the 100 people and households included on the listing paid £5.758 billion ($7.88 billion) in taxes within the UK, a 15.5% enhance from the yr earlier than. The Betfred brothers are within the high spot with a clearance of £68.7 million ($94 million).
The duo received their begin on the planet of betting with a profitable wager for England to win the 1966 World Cup. They used these winnings to open the primary Betfred store, with over 1,300 retailers now open within the UK in 2025.
Nevertheless, Fred Executed warned last year {that a} tax hike might see these places compelled to close down, saying that the tax rises could be the “greatest menace” to the trade in his lifetime. This warning was adopted by a steep rise in UK betting taxes, a lot as Executed had feared.
The subsequent entry on the Sunday Occasions listing is Alex Gerco, a Moscow-born dealer primarily based in London who paid £331.4 million ($453.6 million) in taxes final yr.
Betfred’s not simply paying excessive taxes
In addition to the Executed brothers’ private hefty tax invoice, the corporate itself was slapped with a big invoice on the finish of 2025, after Betfred was discovered “unable to successfully establish and handle cash laundering dangers” associated to their gaming machines and didn’t “establish spend and related monetary indicators of playing hurt for patrons utilizing B3 gaming machines.”
This landed the corporate with a £825,000 ($1.1 million) superb.
Featured picture: Wikimedia Commons, licensed underneath CC BY-SA 4.0
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