New figures from HMRC have shown that the tax collected in 2023-24 reached £827.7 billion, almost five percent higher than the previous year.
The combined effects of inflation and fiscal drag contributed to income tax, CGT and national insurance contributions rising by £23.7 billion during the year to a total of £466.5 billion, a 5.4 percent rise over the previous year.
Income tax receipts jumped 10 percent year-on-year to...
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