Ed Sheeran's eye-watering weekly tax bill after singer netted £10m pay rise

15 October 2023 , 15:44

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Ed Sheeran paid a staggering amount of tax (Image: Redferns)

Ed Sheeran paid £158,917 a week in tax last year, new figures have revealed.

The superstar gave himself a dividend of £18.3million, a £10m pay rise on 2021. But he handed over £8m to the taxman, in line with his vow to “help people” with his wealth. The Suffolk singer/songwriter, 32, makes a point of not seeking to reduce his tax burden.

Asked about his riches, he once said: “It is ‘earn a penny, spend a penny’ with me. As soon as it comes in, it goes out. I don’t have that much value on it. I place more value on my friends and family being OK. A lot of my money goes to charity or to children’s hospitals near where I live. I have enough to be comfortable and the rest goes to help people.”

E d Sheeran Ltd turned over £23.6m in 2022 and his profit for last year was £16.3m. There was no provision on the balance sheet for the well-publicised legal action taken against him over copyright issues in the US. The document sent to Companies House last week revealed Ed Sheeran Ltd will pay £3.1m in Corporation Tax.

And accounts for Ed’s touring firm revealed a £5m tax bill, while £124,000 went to the Exchequer from his property businesses. Ed is thought to be worth £250m.

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