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UK rakes in record 75 billion pounds in City taxes amid Brexit warnings

Reuters  |  LONDON 

By Iain WithersLONDON (Reuters) - Financial services firms in Britain paid a record 75 billion pounds ($95.5 billion) in taxes in the last financial year, but City bosses warned a chaotic Brexit could blow a hole in the industry's tax receipts in future years.The total tax haul in the year to the end of March was up 4 percent on the previous year's 72.1 billion pounds, according to research from consultancy PwC and the City of London Corporation, the local government for the capital's financial district. The previous year's tax take had also set a record.The sector is Britain's largest ...

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First Published: Tue, December 04 2018. 08:52 IST
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