About 205,000 people living in London or the south-east paid more than £150,000 a year, according to the latest data from HM Revenue & Customs). The number of highly paid individuals in the capital and surrounding area equates to 64% of all the 321,000 people who received more than £150,000, according to HMRC figures that were collated by the personal finance site easyMoney. The figures were rounded to the nearest thousand.
The London boroughs of Kensington & Chelsea and the City of Westminster are both home to more than 12,000 people being paid more than £150,000. This means that about 8% of the population in Kensington and Chelsea, the borough that includes the site of Grenfell Tower, are among the highest paid group.Only two places outside of London and the south-east made it into the list of the top 25 local authority areas for people paid more than £150,000: Edinburgh 16th with 4,000 residents, and Cheshire East 17th with 3,000.
Other HMRC data showed that 31,000 people in the UK were paid more than £1m last year. Tax receipts for the top 0.1% of employees show an average pay increase of 6% between April and September last year. The average pay growth of all taxpayers during the same period was 3.7%.
The 0.1% paid tax of £22.6bn – roughly 8% of all PAYE income tax and national insurance receipts in 2017-18. Each of the 31,000 highest paid handed over an average of £730,000 each in tax.