The amount of tax paid by UK businesses in the past year has gone up by £8 billion.
The total business tax contribution amounts to 27% of all UK tax revenue. This comes from a number of different business taxes, including:
- £60bn of corporation tax revenues (accounting for 31% of total tax revenue from businesses);
- £63bn of employer’s national insurance contributions (NICs), worth 32% of all business taxes;
- £28bn of business rates (14%);
- £12bn of fuel duties (6%);
- £33bn of other business taxes (17%).