Business: Tax Yields

(asked on 8th October 2018) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the tax revenue that has accrued to the public purse from businesses with (a) 0-9 employees, (b) 10-49 employees and (c) a turnover of £1 million or less.


Answered by
Mel Stride Portrait
Mel Stride
Secretary of State for Work and Pensions
This question was answered on 11th October 2018

I refer the hon member to the answer that I gave on 9 October 2018 to PQ 173981 and PQ 173982.

It is not possible to estimate the tax revenue that has accrued to the public purse from businesses with (a) 0-9 employees, (b) 10-49 employees and (c) a turnover of £1 million or less as the information is not readily available but 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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