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71.4bn in tax paid by UK finance sector
Reports compiled by PriceWaterhouseCoopers on behalf of the city of London delivered record findings with the figure accounting for 11.5% of the UKs tax receipts.
Furthermore the report said that these figures were due to corporate tax reforms which account for a further £8.4bn, and the bank levy resulting in £3.4bn of lender payouts.
Contributions will remain up in the air until the results of Brexit negotiations with the EU become clearer, but Andrew Kail, head of financial services at PwC questions whether the current level of tax contribution is sustainable.
Post Date: December 6th, 2016
Furthermore the report said that these figures were due to corporate tax reforms which account for a further £8.4bn, and the bank levy resulting in £3.4bn of lender payouts.
Contributions will remain up in the air until the results of Brexit negotiations with the EU become clearer, but Andrew Kail, head of financial services at PwC questions whether the current level of tax contribution is sustainable.
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Post Date: December 6th, 2016
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