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HMRC tax receipts exceed £600 billion for first time in a tax year

News Team, 25/04/2019

Total UK tax receipts rose by almost £29 billion to hit £622.8 billion in 2018/19, according to HMRC figures.

Income tax is the most expensive personal tax, accounting for £190.5 billion of total receipts. Despite rises in the personal allowance, this is a £27 billion increase from 2014/15.

Following closely behind is National Insurance, bringing in £137.2 billion. VAT came in third at £131.7 billion.

Capital Gains Tax also rose significantly to £9.2 billion, representing an increase of around £1.5 billion in the past year.

In contrast, the only major personal tax to drop was stamp duty land ...


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