The taxes we pay as we do business The diagram below shows how the taxes paid ■■ Whenourbusinessgeneratesprofits,wepaycorporationtax. We also pay withholding taxes on dividends and certain other by us arise as we do business. income we receive. ■■ As a large employer, our staff costs include social security, such as national insurance contributions that we pay as an employer to HMRC, in respect of the salaries we pay our employees. ■■ Unlike most other businesses, banks can only claim back a small proportionoftheVATthattheyincur,makingthisasignificantcost to our business when we buy goods and services from our suppliers. ■■ Bank levy is paid to the UK government based on our total global balance sheet. ■■ We also pay other taxes such as property taxes on our network of high street branches. Taxes collected have been excluded from the amounts presented below. Taxes paid by Barclays in 2016 Our shareholders Corporation tax on Irrecoverable VAT Our suppliers: and investors: Barclays’profitsand paid by Barclays – We pay VAT that we cannot We pay tax on the profits withholding taxes – £636m recover on the goods we earn £1,084m and services we buy in the course of our business Our employees: Payroll taxes UK bank levy Our customers We pay social security paid by Barclays on Barclays’ and markets: as a result of being an – £611m balance sheet We pay taxes levied on the employer – £391m size of our balance sheet Other business taxes – £102m Total taxes paid by Barclays: £2,824m Tax authorities  BarclaysPLCCountrySnapshot2016 • 05