The annual Sunday Times Tax List 2021 also showed that Betfred founders Fred and Peter Done paid the third highest tax in the country.
The majority of those featured on the list paid less in tax than they did the year before. However, Denise, John and Peter Coates — Bet365’s co-chief executives and chairman, respectively — saw their tax bill more than double from £276m when they first topped the list in the 2018–19 fiscal year to £573m in 2019–20.
This, the newspaper said, was partly due to a change in methodology, with betting duty now also included among the taxes measured.
That change also saw Betfred founders Fred and Peter Done jump from 22nd on last year’s list with a £44.5m tax bill to third this year with £191m.
For Coates, corporation and payroll taxes made up more than £200m of the total paid, with General Betting Duty and taxes and salaries and dividends making up most of the remainder.
Denise Coates CBE (born 26 September 1967) is a British billionaire businesswoman, the founder and joint chief executive of online gambling company Bet365. In October 2019, Forbes magazine estimated Coates’s net worth at $12.2 billion. Get the latest odds and sports information from bet365’s sports betting team. Read the latest news, keep up-to-date with scores and prices, and view the great range of promotions on offer at bet365. The £100 worth of free bets (called ‘Bet Credits’) is added within 1 hour after your trigger bet is settled. The free bets expire within 30 days. You can split up the £100 worth of free bets e.g. Place 5 x £20 free bets. Just use them before they expire. We now repeat Steps 1 to 3 as we did in the trigger bet part with one change in each step.
The Sunday Times noted that Coates’ wealth would be enough to pay 67,725 state pensions for a year.
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The Done brothers, on the other hand, paid £127.2m in various gambling duties including General Betting Duty, Machine Gaming Duty and Gaming Duty. Phil ivey age. They paid a further £25.6m in corporation and payroll taxes and £3.9m in taxes on dividends.
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The list also estimated the Coates family’s total wealth at £7.10bn, the fourth-highest on the 50-member list. The Done brothers, meanwhile, were estimated to have a net worth of £1.20bn.
