The UK’s legal and accounting firms made a total tax contribution of £19.1 billion in 2018, up 6.8 percent from 2016 for those firms studied, according to a latest report from TheCityUK.
The total tax contributed by the two sectors makes up 2.8 percent of total UK tax receipts, equivalent to over half the total UK government transport budget. This comprises taxes borne (£8.3 billion) and taxes collected (£10.8 billion).
For every £100 of turnover, UK legal and accounting firms contribute £38.40 in taxes.
In the report titled ‘Total tax contribution study for UK legal and accounting activities,â...