Treasury collects £10bn extra in Business taxes
Newsletter issue – May 2024
It has been revealed that companies across the UK have paid £95.2 billion in Business taxes in the financial year just finished (23/24) - a rise of £10.3 billion compared to the year before.
These taxes include receipts from Corporation Tax, Petroleum Revenue Tax, Bank Levy, Bank Surcharge, Diverted Profits Tax, Digital Services Tax, Residential Property Developer Tax, Energy Profits Levy, Electricity Generator Levy and Economic Crime Levy.
For all taxes across the board, total HMRC receipts for April 2023 to March 2024 were £827.7 billion, which is £39.1 billion higher than the same period last year. The figures were revealed by HMRC in one of its latest statistical round ups.
The latest data also contained information on PAYE income tax receipts, which were seen to grow by 11.4% year-on-year. But receipts from income tax collected via self-assessment declined slightly by 1% year-on-year.
If you need any advice on business tax at your organisation, do please get in touch.
Saving money on your Mileage and Tax Bill
Are you like many of our clients, somewhat struggling at keeping track of your mileage to offset... Read More
Posted on Wed, 19 Aug 2015
TWITTER
Tweets by @OWSupportYou’ve probably heard a fair bit about tax so far in this General Election campaign, with many claims and counter-claims thrown around by the...
Once the votes are all counted and we know who the winners and losers are in this year’s General Election on 4 July, minds will start turning to...
Whilst the main focus of the nation in terms of tax talk has all been about the General Election, some very interesting figures have been published...
Whilst many of you will have been tuned in to watch Europe’s top footballing nations battle it out in Euro 2024 in Germany, back in the UK there...
I'm a business owner. I've recently purchased new equipment for my business costing £74,000. Specifically, could you explain how the...
6 July – final deadline for businesses for filing P11Ds for employees...