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British Financial Firms Pay Their Highest Tax Bill Since 2007 | Tony Seruga
Dec
03

British Financial Firms Pay Their Highest Tax Bill Since 2007

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  • Industry contributed 11% of U.K. taxes, City of London says
  • Total tax take rises 1.4%; bank levy generated 23% more funds

The U.K. collected 66.5 billion pounds ($99 billion) in taxes from the financial-services industry during fiscal 2015, up 1.4 percent from a year earlier and the highest total since 2007, according to the local government body that oversees Britain’s main financial district.

The industry contributed 11 percent of total U.K. government tax receipts, the City of London Corporation and PricewaterhouseCoopers said in a report published on Friday. Employment taxes generated 30 billion pounds, the biggest share…

British Financial Firms Pay Their Highest Tax Bill Since 2007

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