27 April 2017

Press release

UK businesses contributed 30% of all tax revenues in 2016

New CBI analysis of data published by the Office for National Statistics today (27 April) has found that businesses paid £205 billion in taxes in 2016/17. The total business tax contribution amounts to over 30% of all tax revenue.

Businesses’ tax contribution increased by 10.2% during the last financial year, led by a 21.9% increase in Corporation Tax receipts. 

Annie Gascoyne, CBI Head of Economic Policy, said:

“The CBI’s analysis shows Britain’s firms are making a record tax contribution and shows the importance of having a competitive corporate tax environment.

“With the UK benefitting from the lowest rate of Corporation Tax in the G20,that is helping to retain and attract business activity in the UK and deliver more tax revenue through economic growth.

“Firms will now be looking for reassurance and certainty from all of the political parties on tax policy. Whoever the next Government, they must prioritise stability in the tax system for the short-term and work with business to create a modern tax system that reflects the economy over the longer-term.” 

See our interactive business tax contribution chart to see how the tax contribution UK businesses make breaks down.