06 December 2016
Download Total tax contribution of UK financial services report - ninth edition (1MB)
Download Total tax contribution of UK financial services leaflet (270KB)
Please note there is a more recent edition of this report. The 2018 report The total tax contribution of UK financial services - eleventh edition
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.
For the 2017 report Total tax contribution of UK financial services - tenth edition