Supplementary written evidence submitted
by the Institute for Fiscal Studies
While giving oral evidence on Tuesday 25 January,
we offered to send the Committee figures on the extent to which
corporation tax payments are skewed towards a small number of
large companies.
The relevant figures are available from HMRC Statistics
(http://www.hmrc.gov.uk/stats/corporate_tax/menu.htm).
Table 11.6 shows that in 2008-09
(the latest year of data):
- A quarter of all corporation tax revenue (strictly,
liabilities arising) came from just 41 companies.
- Almost half of revenue came from the top 453
companies (0.05% of those with positive liabilities).
- 70% of revenue came from the top 1% of taxpaying
companies.
- 80% of revenue came from the top 3% of taxpaying
companies.
Table 11.3 shows that, in 2008-09,
of 915,000 companies paying corporation tax, only 46,000 (5%)
were subject to the main rate of corporation tax, yet they accounted
for 75% of taxable profits (before accounting for double tax relief).
We hope you find this helpful.
Paul Johnson
Richard Blundell
Stephen Bond
Stuart Adam
February 2011
| 
