TaxCorporate TaxTop corporates pay 13% of the UK’s tax bill

Top corporates pay 13% of the UK's tax bill

Analysis by the Hundred Group shows that blue chip businesses pay £60bn in taxes annually

UK blue chip business is paying the Treasury £60bn in taxes annually, which
amounts to 13% of total government income, a study by the
Hundred
Group
of finance directors has shown.

The study, conducted in conjunction with
PricewaterhouseCoopers
, showed that for every £1 paid in corporation tax, Hundred Group members
collected £3.70 in other taxes, including PAYE and National Insurance.

The study found that over the last three years total taxes had climbed by
close to 22%.

Hundred Group chair
Philip
Broadley
said the data from the research, known as the Total Tax
Contribution survey, had been made available to the government, who had
responded positively to the findings.

‘The response from government is also very encouraging with its recognition
of the increasing scope and quality of the data, and now the availability of
trend information generated about the amount of tax paid by The 100 Group
members,’ Broadley said.

Further reading:

Hundred Group next on Balls charm offensive

Hundred Group and Varney enter tax reporting row

Philip Broadley: power through influence

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