Business: Tax Yields

Treasury written question – answered on 9th October 2018.

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Photo of Graham Brady Graham Brady Chair, Conservative Party 1922 Committee

To ask the Chancellor of the Exchequer, what estimate he has made of the proportion of revenue to the Exchequer raised from businesses with (a) 0-9 employees, (b) 0-49 employees and (c) a turnover of £1 million or less.

Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General

It is not possible to estimate the proportion of revenue raised from businesses with (a) 0-9 employees, (b) 0-49 employees as the information is not held.

It is not possible to estimate the proportion of revenue raised from businesses with (c) a turnover of £1 million or less as the information is not readily available and could be provided only at disproportionate cost. It is possible to identify tax liabilities for businesses with a turnover of £1 million or less for corporation tax and value added tax.

We estimate corporation tax liabilities for 2016-17 was £50 billion of which around £12 billion (24%) was contributed by companies with turnover of £1 million or less.

We estimate Home VAT liabilities for 2016-17 was £100 billion of which around £16 billion (16%) was contributed by companies with a turnover of £1 million or less.

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