PAYE receipts from the banking sector are now at a record high, but corporation tax (CT) payments are running at about a third of the levels seen before the financial crisis, according to statistics released by HMRC.

HMRC's figures show that the PAYE paid by the banking sector totalled £17.8bn in 2012-13, a 1.5% increase compared to the previous year. Banking sector PAYE receipts fell in only one year covered by the report, in 2008-09 when they dropped by 16% to £14bn, and are now at their highest level.

CT receipts from the banking sector were £2.3bn in 2012-13, well below the £7.3bn recorded in 2006-07. However, HMRC figures show that this is an improvement on the previous year, 2011-12, when banking sector CT receipts were £1.3bn. The department also pointed out that reductions in the CT main rate, as well as lower profits in the banking sector, have had an impact on total receipts.

Receipts for the bank levy, introduced in January 2011, totalled £1.6bn in both 2012-13 and 2011-12.

Overall, the total bank levy, CT Tax and PAYE receipts from the banking sector in 2012-13 increased by £1.2bn (6%) compared to the previous year, according to HMRC's figures.

The banking sector share of total PAYE paid by the economy as a whole has remained relatively stable throughout the period covered by the statistics. It is currently 7.7% in 2012-13 and previously ranged between a low of 6.3% in 2008-09 and a peak of 7.8% in 2010-11.

The proportion of total onshore CT received from the banking sector has fallen considerably over the past eight years, according to HMRC, although it has doubled in the past year and now accounts for 6.4%, up from 3.1% in 2011-12.