We all hear how much tax is avoided, well estimated avoidance because by its very nature if its avoided its not actually calculable with any accuracy, but have you ever wondered how much tax is actually collected?
Well here are the details, just click here.
What strikes me about these figures is how small the corporation tax figure is compared to income tax, national insurance contributions and VAT.
You would have thought with all those big businesses here in the UK we would see larger corporation tax receipts?
Technorati Tags: HMRC, Tax collected, Corporation Tax, National Insurance Contributions, VAT
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8 Comments
why would you think that? Surely individuals make up the vast proportion of those taxed, either through earnings or small businesses.
Think about it another way - what is the payroll total on which payroll taxes are calculated - and don’t forget the BIKs? I bet it is a lot bigger than net profits earned by companies.
Jason
I think there will be rather more to discuss in this issue within a fortnight
Consider that a trailer……
Richard Murphy
Alastair, big business have some very expensive and complex structures in place, now do you really think they do this to pay their fair share of tax?
It is the smaller business, and those who are under PAYE that pay the biggest share of taxes, as detailed in the link.
As you rightly say, individuals/small business do make up the majority in number, but not wealth/earnings/profits, look at Tesco as one example!
Richard, a trailer? I hope that you post a trackback here when you post.
To take Tesco as an example misses the point, and wealthy individuals are equally capable of having expensive and complex structures. I don’t claim to have the numbers, but I would guess that if you looked at them then individuals income subject to income tax is the bigger pot.
The issue of where corporations pay tax is surely totally separate, and fairness is not the issue - what is the issue is the ability of HMRC to apply the rules.
Actually you are quite right that we do hear lots of nonsense about tax avoidance - but remember that this is quite legal.
Alastair
Ethics, dear boy, ethics.
Remember them?
Richard
Richard, if you are not prepared to engage in discussion with me on your own site then it seems somewhat unethical to post cryptic comments at me on someone else’s site.
Alastair
You are not barred from my site at all - so long as what you say is useful, non-repetitious and is intended to be constructive.
As such, your suggestion that I am not willing to debate is not true at all. I am just not willing to waste my time or my other reader’s on comments that do not take things forward.
Richard
Gentlemen, thank you for your comments.
I find blogs, as with life and personal views in general, result in conflicting views which lead to spirited and sometimes heated discussions, which I enjoy as much as the next.
As we all have our own views, sometimes they will accord and others not, but in the spirit of this blog being informative and useful I will now be closing this particular thread to further comments.
You are both more than welcome to post relevant comments on other postings.
Once again, thank you both for your participation
Jason