Skip to main content  
 
 

 

Total tax contribution of UK financial services ninth edition

06 December 2016

Total Tax Report 2016

Download Total tax contribution of UK financial services report (1MB)

Download Total tax contribution of UK financial services leaflet (270KB)

The ninth edition of our annual Total Tax report finds that the UK's financial services sector contributed £71.4 billion in taxes in the year to March 2016.

This year's figure is £4.9 billion more than the 2015 study (2015: £66.5bn), is the highest since the survey began in 2007, and is equivalent to 11.5% of total UK government tax receipts.

The total tax contribution is estimated through a survey of financial services firms who, together, employ around half of the sector's 1.1 million employees.

For the first time this year, the report includes analysis on the tax profiles of the two biggest sub-sectors: banks and insurers. 

Further information

See the research publications page for previous reports.

Published:
01 December 2016
Last Modified:
04 October 2017

Notifications