The statistic shows the total tax contributions made by the United Kingdom's financial services industry to the Exchequer between 2007 and 2019. In the 2007 financial year, the industry paid approximately 68 billion British pounds in tax to the Exchequer. This value decreased post-recession, but then grew again and amounted to 75.5 billion GBP in 2019, the highest amount during this time period. Of the 75.5 billion British pound tax contribution, approximately 33.4 billion GBP were of taxes borne and a further 42.1 billion British pounds in taxes collected.
Total tax contribution of the United Kingdom (UK) financial services industry from 2007 and 2019
(in billion British pounds)
Tax year
Tax contribution in billion GBP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Exclusive Premium Statistic
To access all Premium Statistics, you need a paid Statista Account
Financial year to 31st of March. * Data not provided for 2008.
The source adds further comments: "This ninth study has been carried out using data provided by 45 financial sector companies on all their UK tax payments. These companies include retail banks, investment banks, insurers, asset managers, real estate companies and other FS sector companies." ** estimated.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
City of London. (January 7, 2020). Total tax contribution of the United Kingdom (UK) financial services industry from 2007 and 2019 (in billion British pounds) [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/264594/tax-contribution-of-the-united-kingdom-financial-services-industry/
City of London. "Total tax contribution of the United Kingdom (UK) financial services industry from 2007 and 2019 (in billion British pounds)." Chart. January 7, 2020. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/264594/tax-contribution-of-the-united-kingdom-financial-services-industry/
City of London. (2020). Total tax contribution of the United Kingdom (UK) financial services industry from 2007 and 2019 (in billion British pounds). Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/264594/tax-contribution-of-the-united-kingdom-financial-services-industry/
City of London. "Total Tax Contribution of The United Kingdom (Uk) Financial Services Industry from 2007 and 2019 (in Billion British Pounds)." Statista, Statista Inc., 7 Jan 2020, https://www.statista.com/statistics/264594/tax-contribution-of-the-united-kingdom-financial-services-industry/
City of London, Total tax contribution of the United Kingdom (UK) financial services industry from 2007 and 2019 (in billion British pounds) Statista, https://www.statista.com/statistics/264594/tax-contribution-of-the-united-kingdom-financial-services-industry/ (last visited July 27, 2024)
Total tax contribution of the United Kingdom (UK) financial services industry from 2007 and 2019 (in billion British pounds) [Graph], City of London, January 7, 2020. [Online]. Available: https://www.statista.com/statistics/264594/tax-contribution-of-the-united-kingdom-financial-services-industry/
