Income Tax
(asked on 1st September 2023) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answers of 13 and 25 July 2023 to Questions 193196 and 194519 on Income tax, for what reasons summing boxes 2 and 4 on HMRC CT61 forms across all corporate taxpayers does not provide the information requested.
The table below provides aggregate figures for the income tax deducted at source by companies at (a) the basic rate and (b) a reduced rate in each of the last six financial years. Please note data is only available for returns above £50k in value so this information will not capture amounts below this threshold.
£m | Total tax deducted at the basic rate of income tax (Box 2) | Total tax deducted at reduced rates (Box 4) |
2016-17 | 335 | 25 |
2017-18 | 720 | 80 |
2018-19 | * | 90 |
2019-20 | 300 | 50 |
2020-21 | 145 | 30 |
2021-22 | 195 | 30 |
The figure for the total tax deducted at the basic rate of income tax in 2018-19 has been redacted to maintain taxpayer confidentiality, which can be at risk when there are a small number of contributors or a small number of contributors which are very dominant.