Note: Figures for 2020–21 onwards are Office for Budget Responsibility forecasts. Shaded regions show years of negative growth in real GDP. Onshore revenue includes revenue from the bank surcharge. Offshore revenue includes revenue from ring-fence corporation tax and the supplementary charge. Chart shows cash receipts (not accruals), which are available on a consistent basis for a longer period.
Corporation tax is the fourth biggest source of revenue for the UK Treasury and is forecast to raise around £40 billion in 2021–22.