Analysis by the CBI of data published by the Office for National Statistics has found that businesses paid £186bn in taxes in 2017/18, amounting to 27% of all tax revenue.
Analysis by the CBI of data published by the Office for National Statistics has found that businesses paid £186bn in taxes in 2017/18, amounting to 27% of all tax revenue.
Corporation tax revenues accounted for 31% (£57.2bn), employer’s NIC for 32% (£60.3bn), business rates for 15% (£27.4bn), fuel duties for 6% (£12.1bn) and other business taxes for 16% (£28.9bn).
For statistical purposes, the business tax contribution includes: employer’s NICs; corporation tax; business rates; fuel duty; IPT; PRT; CGT; SDLT; stamp duty on shares; CCL; bank levy; vehicle excise duty paid by business; EU ETS auction receipts; and other minor taxes.
Annie Gascoyne, CBI’s head of economic policy, said: ‘Corporation tax revenue continues to go from strength to strength, highlighting the importance of maintaining a competitive and stable tax environment.’
‘Britain’s firms are continuing to make a strong tax contribution, despite relatively subdued economic growth in 2017/18’, Gascoyne added.
Analysis by the CBI of data published by the Office for National Statistics has found that businesses paid £186bn in taxes in 2017/18, amounting to 27% of all tax revenue.
Analysis by the CBI of data published by the Office for National Statistics has found that businesses paid £186bn in taxes in 2017/18, amounting to 27% of all tax revenue.
Corporation tax revenues accounted for 31% (£57.2bn), employer’s NIC for 32% (£60.3bn), business rates for 15% (£27.4bn), fuel duties for 6% (£12.1bn) and other business taxes for 16% (£28.9bn).
For statistical purposes, the business tax contribution includes: employer’s NICs; corporation tax; business rates; fuel duty; IPT; PRT; CGT; SDLT; stamp duty on shares; CCL; bank levy; vehicle excise duty paid by business; EU ETS auction receipts; and other minor taxes.
Annie Gascoyne, CBI’s head of economic policy, said: ‘Corporation tax revenue continues to go from strength to strength, highlighting the importance of maintaining a competitive and stable tax environment.’
‘Britain’s firms are continuing to make a strong tax contribution, despite relatively subdued economic growth in 2017/18’, Gascoyne added.
