Corporation Tax
(asked on 5th February 2018) - View Source
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many corporation tax payers submitted a corporation tax return to HMRC in respect of an accounting period ending in the tax years (a) 2012-13, (b) 2013-14, (c) 2014-15, (d) 2015-16 and (e) 2016-17; how many of those tax payers declared profits giving rise to corporation tax liability in each such year; what the combined (i) monetary value of such profits and (ii) associated liability for corporation tax was in each such year; how many returns declared a loss in each year; what the combined monetary value of such losses was in each such year; if he will provide that information by parliamentary constituency based upon the registered address of the company for 2015-16; and if he will make a statement.
The information in respect of the number of returns submitted is not centrally collated and could be provided only at disproportionate cost.
The table below sets out the number of companies declaring gross taxable trading profit, the monetary value of gross taxable trading profit, the number of companies with Corporation Tax payable and the monetary value of Corporation Tax payable for 2012-13 to 2015-16. The latest year for which figures are available is 2015-16.
| 2012-13 | 2013-14 | 2014-15 | 2015-16 |
Number of companies with Gross taxable trading profit | 1,159,805 | 1,259,504 | 1,386,764 | 1,515,709 |
Monetary value of Gross taxable trading profit (£m) | 309,373 | 332,247 | 365,720 | 378,602 |
Number of companies with Corporation Tax payable | 1,030,748 | 1,115,416 | 1,229,502 | 1,369,397 |
Corporation tax payable (£m) | 40,270 | 39,563 | 42,833 | 43,419 |
These figures are available in Table 11.3 of the Corporation Tax National Statistics publication: https://www.gov.uk/government/statistics/corporation-tax-number-of-companies-income-allowances-tax-liabilities-and-deductions
The table below sets out the number of companies declaring gross trading losses for 2012-13 to 2015-16. The latest year for which figures are available is 2015-16.
| 2012-13 | 2013-14 | 2014-15 | 2015-16 |
Number of companies with no income or just Gross trading losses | 305,269 | 324,182 | 335,000 | 358,802 |
Monetary value of Gross trading losses (£m) | 91,514 | 82,511 | 67,433 | 78,093 |
The table attached sets out the number of companies declaring gross taxable trading profit, the monetary value of gross taxable trading profit, the number of companies with gross trading losses, the monetary value of gross trading losses, the number of companies with Corporation Tax payable and the monetary value of Corporation Tax payable by parliamentary constituency for 2015-16.