Total tax contribution of UK financial services

The City of London Corporation and TheCityUK have jointly commissioned a survey of the total tax contribution made by UK financial and related professional services.

Nationally, the financial and professional services industry contributed a record £110.2bn to the public purse in 2023. This is 12.3% of total UK tax receipts: more than the government’s annual education budget and more than half the health budget.

Prepared by PwC, the report highlights the value of enhancing the competitiveness of the UK’s financial and professional services industry to support investment and the broader UK economy.