skip to navigationskip to main content

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.

Working with you

Whether you're starting from scratch or have been in business for years you'll benefit from working with John Murphy & Company (Scotland) Limited advice on how to take you to the next level.

fixed-quote-man.jpg

About us

We work closely with our clients and act for a broad range of business....

business-advice-couple.jpg

Get in touch

Simple way to contact us. Just fill in a simple form.

free-consultation-couple.jpg

Our services

Find out details about what we can do
for you.