Ed Miliband's party netted £33.3m, while the Conservatives coming in second, raising £25.4m. The Lib Dems came a distant third with £7.3m.
Labour's funding included £6.9m of Short Money, which is intended to assist opposition parties with the cost of research support for front-bench spokesman, assistance in the whips' offices and staff for the leader of the opposition.
The Scottish National Party suffered a slight decline, from £2.3m to £2m. However, the story was completely different for eurosceptic UKIP, which doubled the amount of money it raised from 2012 reaching £2.5m for 2013.
The Electoral Commission reported that the Green Party had raised an income of £881,819 while the British National Party managed to land £605,208.
In total, 14 UK political parties reported having gross income or total expenditure in 2013 of over £250,000. Altogether the parties reported £76,506,409 income and £68,800,157 expenditure.