Income Tax Table: 'Stockbroker Belt' Top UK Highest Tax Payers' List

Almost all of the top 30 areas of the UK that are paying the highest average income tax are 'stockbroker belt' towns, according to a report.

Research from accounting and auditing firm UHY Hacker Young shows that 28 of the top 30 areas are scenic towns situated within commuting distance of London, nicknamed 'stockbroker belt' towns because of the high number of residents who work in the financial sector.

Residents of Elmbridge, Surrey, dubbed the Beverly Hills of Britain, home to stars such as Andy Murray and Sir Elton John, contribute the highest income tax, with each of them on average paying £16,600 ($28,336, €20,954) to the taxman annually, almost twice that of London residents and three times the amount an average Briton pays.

South Buckinghamshire residents are the second highest tax payers, contributing on average £13,600 per annum, closely followed by those who live in Chiltern Hills, Hertfordshire, who pay £12,700 a year.

"The Government is increasingly reliant on the wealthiest parts of the South Eastern commuter belt and London for income," said Mark Giddens, UHY head of private client services.

"The Government has gradually increased the tax burden on high earners since the credit crunch. Higher taxation of wealthy individuals in the South East has proven to be an effective means to boost tax receipts, but these numbers will not make for pleasant reading for those affected."

The two areas which don't fall into the stockbroker belt are London, which sits in 14<sup>th, and the Cotswolds, which covers areas of Gloucestershire and Oxfordshire, sitting in 29<sup>th.

At the other end of the scale, residents of northern seaside town Blackpool pay the least amount of tax of the 401 areas surveyed by UHY, handing out just £2290 to HMRC a year.