Businesses in the UK contributed nearly £200billion to the treasury in tax during the past year, analysis has shown.

CBI analysis of data published by the Office for National Statistics showed that business paid £196billion in tax during 2018/19 - up from £188 in the previous year.

The total business tax contribution amounted to 27 per cent of all tax revenue collected by the treasury during the year.

Of that £196billion, 31 per cent (£60bn) was paid in corporation tax, employer's national insurance contributions came to 32 per cent (£63bn).

Business rates accounted for 14 per cent (£28bn), fuel duties for six per cent (£12bn) while 17 per cent (£33bn) came from other business taxes.

Chief economist at the CBI, Rain Newton-Smith said that the figures highlight the vital role business pays in the UK.

She said: "Our analysis shines a timely light on the importance of business to the funding of our schools, hospitals and many other public services.

"The efforts of successful enterprises, paying a fair share in tax, cannot be taken for granted by politicians at a time of such economic uncertainty.

"From investing in communities and creating opportunities for people, to contributing more than a quarter of the total UK tax-take, businesses are the heartbeat of towns and villages throughout the country.

"The single most effective remedy to the current structural challenges facing the British economy is a simple one - increased business investment.

"Any future changes to direct business taxes will need this as a number one priority, keeping in mind the rapid changes that new technology is bringing to the way we work and shop.

"That means a studied, evidence-based approach is paramount to ensure the tax system in our modern economy is stable, transparent and simple."

Punchline says SMEs shoulder a large tax burden but as many of us know, it's not a fair playing field against the tech giants.

Although they aren't doing anything illegal, they appear not to pay their fair contribution compared to the profit they make out of the UK.

What do you think, e-mail mark@moosemarketingandpr.co.uk