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Large companies paid £11bn taxes in 2008

The government received £11bn from Britain's largest companies in corporation tax take in the year to 31 March 2008, almost a quarter of the UK total, a survey has revealed. The largest companies also paid and collected on behalf of the government an estimated £66.5bn for the same time period. PricewaterhouseCoopers has revealed the findings as part of its annual Total Tax Survey on behalf of the Hundred Group of Finance Directors. For every £1 paid in corporation tax, these larger companies paid an additional £1.14 in other taxes and collected a further £3.88 on the government's behalf. Ashley Almanza, chairman of the Hundred Group of Finance Directors, said: 'In this economic climate the tax burden on large companies needs to be well understood. Taxation levels have an important impact on our ability to compete in a fiercely competitive global economy.' He added: 'The ideal is to encourage economic activity and thereby grow overall tax revenues.'
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