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)
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.
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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 May 17, 2022, 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 May 17, 2022. 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: May 17, 2022. 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 May 17, 2022)
