How much do the UK’s largest businesses pay in tax?

The Total Tax Contribution (TTC) of the 100 Group for 2018

  • £84.1bn

    In 2018, the TTC of the 100 Group increased for the 8th consecutive year

  • 15.8%

    The increase was largely driven by a 15.8% increase in corporation tax

  • 58.7%

    Retail and FS companies account for 58.7% of total taxes borne

Total Tax Contribution of the 100 Group Survey Results 2018

Welcome to the fourteenth PwC Total Tax Contribution annual survey of the 100 Group. This report presents the analysis of data received from 97 companies, displaying the TTC and wider economic contribution for 2018, along with the trend analysis over the fourteen years of the survey.

Download the full report Total Tax Contribution of the 100 Group

The Total Tax Contribution of the 100 Group increased for the eighth consecutive year in 2018, reaching £84.1bn

This includes both taxes borne of £27.2bn and taxes collected of £56.9bn, and represents 12.3% of total government receipts.   

 

 

The increase in total taxes borne was driven by a 15.8% increase in corporation tax

Mainly driven by the insurers, followed by oil & gas, retailers, real estate and banks.

The 100 Group continues to support the UK economy through a period of uncertainty:

  • Employment: the 100 Group employ 2 million people, 6.3% of the total UK workforce, and account for 9.2% of all UK employment tax receipts.

  • UK suppliers: On average, each 100 Group participant supported 5,112 UK suppliers, including SMEs.

  • Capital investment: Survey participants spent £25.6bn on capital investment in 2018, 13.3% of total UK business investment.

  • R&D expenditure: Survey participants spent £10.3bn on research and development in 2018.

The trend in taxes borne since the survey began reveals a shift from profit taxes towards other business taxes based on property and employment

Retailers and financial services companies have been particularly impacted by this shift in tax policy. In 2018, retail and FS account for 58.7% of total taxes borne.

Explore the Total Tax Contribution of the 100 Group over the last fourteen years

Our tool below allows you to explore the data from our Total Tax Contribution survey in more detail, comparing the change in profile between different years and different taxes.

The survey collects data from 100 Group members on the contribution made in all taxes borne - the taxes that represent a cost to the company such as corporation tax, employers’ NIC, business rates, irrecoverable VAT, and bank levy.

The changing profile of taxes borne between 2005 and 2018

Over the fourteen years of the survey, a major finding is the change in profile of taxes borne. The contribution made to total taxes borne by taxes other than corporation tax is greater in 2018 when compared with 2005. This changing profile for the 100 Group suggests that tax revenues contributed by this group of companies have become materially less dependent on corporation tax. There has been a consistent trend away from a tax based on profits to taxes based on people, production and property.

Trends in taxes between 2005 and 2018

Over fourteen years, the TTC survey has collected an extensive bank of data on tax payments by the 100 Group members. Twenty-seven companies have provided data in all the surveys we have undertaken. This enables us to look at the trends in their results on a like for like basis, taking 2005 as 100% for each tax.

Press on dot for figure

Trends in taxes between 2005 and 2018

Over fourteen years, the TTC survey has collected an extensive bank of data on tax payments by the 100 Group members. Twenty-seven companies have provided data in all the surveys we have undertaken. This enables us to look at the trends in their results on a like for like basis, taking 2005 as 100% for each tax.

year,Corporation tax,Employers' NIC,Business rates,Irrecoverable VAT,Petroleum revenue tax,Bank Levy,Other
2005,50,20,11,9,4.1,0,5.9
2006,52.1,16.9,12.6,8.3,5.8,0,4.3
2007,55.9,15.2,11.5,7.8,5.7,0,3.9
2008,46.8,20.2,14.1,9.7,4,0,5.3
2009,44,21.4,14.5,9.4,6.5,0,4.3
2010,33.7,27.4,20.3,10.6,2.8,0,5.2
2011,39.5,23.3,15,10.7,2.5,0,8.9
2012,32.8,25.2,16.9,13.8,3.1,3.2,5
2013,25.9,27.5,18.9,14.1,3.1,5.2,5.3
2014,23.4,28.2,19.5,15,1.3,5.9,6.6
2015,18.3,29.4,21,15.6,0.4,8.1,7.2
2016,19.7,27.7,20.9,15.1,0,9.6,7
2017,25.2,27.3,18.9,14,0,8.3,6.3
2018,26.5,25.8,18.5,13.3,0,8.1,7.8
year,Corporation tax,Other taxes borne,Taxes borne,Irrecoverable VAT,Business Rates,Employers' NIC
2005,100,100,100,100.0,100.0,100.0
2006,129.5,114.9,114.2,95.7,127.0,102.2
2007,145.9,119.5,129.1,93.1,144.7,106.4
2008,101.1,127.1,115.1,104.2,145.5,114.9
2009,90.4,129.8,112.5,105.9,131.1,103.0
2010,29.1,124.9,84.7,107.4,142.7,102.7
2011,80.7,147.4,123.0,145.7,148.3,117.0
2012,84.0,158.4,114.1,184.1,161.4,149.3
2013,54.9,171.6,107.7,193.1,171.9,147.7
2014,49.7,172.6,101.2,217.3,178.2,146.2
2015,39.6,176.8,98.7,210.2,185.7,148.1
2016,44.9,179.5,103.1,211.1,192.9,148.1
2017,61.1,176.3,107.4,198.4,191.4,154.9
2018,80.2,184.6,117.9,197.2,190.9,158.5

Notes about the survey

  1. Total taxes borne in 2018 are higher than in 2005.
  2. Charts are based on data from survey participants in each survey.
  3. PwC has anonymised and aggregated this data to produce the survey results.
  4. All fourteen TTC surveys with the 100 Group use the same PwC TTC methodology which enables the results to be compared.
  5. PwC has not verified, validated or audited the data and cannot give any undertakings as to the accuracy of the survey results in that respect.

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Andrew Packman

Total Tax Contribution and Tax Transparency leader, PwC United Kingdom

Tel: +44 (0)189 552 2104

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