> So what exactly is left for a corporate tax to collect?
£220bn in profit last year.
It's in the headline.
£220bn in profit last year.
It's in the headline.
As others pointed out — this number is nonsense. See for example https://news.ycombinator.com/item?id=27380998.
I'm not sure how they got from a €36.5 billion profit for the year (which would be the maximal taxable amount) to a €220 billion number, something 6x higher.
The profit goes out to shareholders as dividends, to employees as salary rises and into investments of a corporate’s means of production hopefully generating more growth and, hence, growing tax returns.