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Our financials

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Our firm

Our financials

Our financial performance and tax contribution.

Our 2020 financial performance

We started the financial year strongly, recording high single digit growth prior to the onset of the pandemic. Like many businesses, our performance was then impacted by COVID-19. However, thanks to the hard work of our people, our business has remained resilient and our financial performance robust. We will report on our 2021 results later this year.

2020
2019
2018
Total revenue /
£2.30bn
£2.40bn
£2.34bn
FY20
FY19
FY18
Increased/decreased revenue /
-4%
+3%
+8%
FY20
FY19
FY18
Profit before tax and members' profit shares /
£288m
£307m
£356m
FY20 1
FY19
FY18 1
Average partner distribution /
£572k
£640k
£690k
FY20
FY19
FY18
UK Chair and Senior Partner remuneration /
£1.7m
£1.9m
£2.1m
FY20 2
FY19 2
FY18 2

Net sales growth

Audit /
+3%
+10%
+8%
FY20
FY19
FY18
Tax and Legal /
-6%
+3%
+7%
FY20 3
FY19 3
FY18 3
Consulting /
-2%
-2%
+5%
FY20
FY19
FY18
Deal Advisory /
-1%
+3%
+14%
FY20
FY19
FY18

1) The FY20 figure excludes profit of £115m from the disposal of our Pensions business. The FY18 figure excludes profit of £106 million arising on disposal of 15 Canada Square
2) In 2021, our firm's governance structure was changed by separating the roles of Chair and Chief Executive. Going forward, we will report on the remuneration of our Chief Executive.
3) The FY20 net sales growth for Tax and Legal excludes the pensions business. Whereas FY19 and FY18 does include the pensions business.

Find out more: UK Members' Report and Financial Statements 2020

Our 2020 Tax Contribution

KPMG in the UK makes a significant contribution each year to the public finances through the taxes paid by our partners on our profit, the taxes we bear as an organisation such as employers' national insurance, corporation tax (which is paid on the small proportion of profit earned in subsidiary companies), business rates and property and environmental taxes, and those we collect on behalf of the exchequer, such as employees' national insurance, employment tax and VAT. Taken together, the tax borne by us and collected on behalf of the government gives a clear picture of our economic activity, the contribution we make to the UK economy and the value we add to society at large.

2020
2019
Partner income tax and national insurance /
£172.4m
£175m
FY20
FY19
Tax borne by us directly (cost to the firm) /
£152.2m
£154.7m
FY20
FY19
Tax we collected for the public purse in the course of our day-to-day business /
£681.9m
£760.2m
FY20
FY19

Find out more: UK Transparency Report 2020