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16 April 2012

How much tax do the super-rich pay?

Never-before-published data reveals the extent of tax avoidance.

By George Eaton

As Samira noted earlier, in an attempt to defend its cap on tax relief, the Treasury has released new figures revealing the extent of tax avoidance among the super-rich. No government has ever published data of this kind before, so I thought Staggers readers might like to see the full chart. As it shows, 12 [6 per cent] of the 200 taxpayers earning over £10m pay less than 10 per cent in tax, while 58 [29 per cent] pay 40 per cent or less.

The debate on tax transparency has accelerated so fast that it would no longer be surprising if one of the main parties called for the UK to follow the Nordic countries and make all tax returns public.

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