Record taxes paid by FTSE 100 firms

BRITAIN’S biggest companies are contributing record amounts of tax to the E xchequer, figures show today.

Firms in the FTSE 100 index helped generate £82.9bn of tax last year, according to a report by PricewaterhouseCoopers.

The haul represented 13pc of total government tax receipts. The payments include taxes paid directly by the companies, such as corporation tax, the bank levy, business rates and employers’ national insurance, as well as taxes that companies collected on behalf of the Government such as income tax.

Chris O’Shea, chairman of the 100 Group that represents Britain’s biggest companies, said: ‘This report illustrates the important role the 100 Group plays in supporting the UK economy.’

Corporation tax payments by FTSE 100 companies jumped 33pc to £6.4bn and Annie Gascoyne, head of economic policy at the CBI, said: ‘With the UK benefiting from the lowest rate of corporation tax in the G20, this is helping to attract and retain business in the UK and deliver more tax revenue.’