In 2023/24, households in the top decile in the United Kingdom paid, on average, 48,189 British pounds in income tax, compared with the lowest income decile which paid around 1,783 pounds per year.

In 2024/25, income tax receipts in the United Kingdom amounted to 301 billion British pounds, compared with 275 billion in the previous year. Although the value of income tax receipts has grown quite consistently throughout this period, there is a sharp increase observable from 2021/22 onwards. The period of high inflation from 2021 onwards led to faster wage growth, which pushed many UK workers into higher tax bands, resulting in the increased income tax revenue. Income tax brackets The amount which workers in the United Kingdom pay in income tax is determined by how much they earn, placing them in different income tax bands. All workers in the United Kingdom are entitled to earn a personal allowance of 12,750 pounds before they are charged income tax. The Basic rate of 20 percent applies to income between 12,750 and 50,270 pounds, with a higher rate of 40 percent charged on incomes between 50,271 and 125,140 pounds. The highest tax band stands at 45 percent, for earnings over 125,140 pounds. Main UK taxes Income tax is the largest source of UK government revenue, accounting for 11 percent of gross domestic product in 2025/26. Value Added Tax was the next largest source of UK government revenue, followed by National Insurance, and Corporation Tax. Value Added Tax or VAT is the largest indirect tax in the UK, and is raised via a 20 percent levy on most goods and services sold in the UK. National Insurance Contributions form an additional direct tax on earnings in the UK, while Corporation Tax taxes the profits of companies resident in the UK.

The Personal Income Tax Rate in the United Kingdom stands at 45 percent. This dataset provides - United Kingdom Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

United Kingdom UK: Total Tax Rate: % of Profit data was reported at 30.700 % in 2017. This records a decrease from the previous number of 30.900 % for 2016. United Kingdom UK: Total Tax Rate: % of Profit data is updated yearly, averaging 34.600 % from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 36.200 % in 2011 and a record low of 30.700 % in 2017. United Kingdom UK: Total Tax Rate: % of Profit data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Company Statistics. Total tax rate measures the amount of taxes and mandatory contributions payable by businesses after accounting for allowable deductions and exemptions as a share of commercial profits. Taxes withheld (such as personal income tax) or collected and remitted to tax authorities (such as value added taxes, sales taxes or goods and service taxes) are excluded.; ; World Bank, Doing Business project (http://www.doingbusiness.org/).; Unweighted average; Data are presented for the survey year instead of publication year.

The Corporate Tax Rate in the United Kingdom stands at 25 percent. This dataset provides - United Kingdom Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2022/23 approximately *****million taxpayers in the United Kingdom earned between 20,000 and 29,999 British pounds in this tax year, the most of any income level, while approximately *******taxpayers in the UK earned over one million pounds.

One of the major challenges of empirical tax research is the identification and calculation of appropriate tax data. While there is consensus that average marginal tax rates are most suitable for studying the effects of tax policy on economic growth, because of data limitations the calculation of marginal tax rates has been limited to the USA and the UK. This paper provides calculations of average marginal tax rates for the four Scandinavian countries using the methodologies of Seater (1982, 1985) and Barro and Sahasakul (1983, 1986). Then, by pooling the newly calculated tax rates for the Scandinavian countries with the data for the USA and the UK, we investigate the effects of tax policy shocks on the per capita GDP growth rate. Our results suggest that an increase in average marginal tax rates has a negative impact on economic growth. Employing additive mixed panel models with penalized splines as estimation approach, we show that changes in tax rates have nonlinear effects. Increasing average marginal tax rates turn out to be the most distorting at relatively moderate tax rates.

The Sales Tax Rate in the United Kingdom stands at 20 percent. This dataset provides - United Kingdom Sales Tax Rate | VAT - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about United Kingdom Tax Revenue

• UK Tax Revenue was reported at 256.268 USD bn in Dec 2024.
• This is a decrease from the previous figure of 266.877 USD bn for Sep 2024.
• UK Tax Revenue data is updated quarterly, averaging 68.866 USD bn from Mar 1957 to Dec 2024, with 272 observations.
• The data reached an all-time high of 293.309 USD bn in Mar 2024 and a record low of 3.111 USD bn in Jun 1957.
• UK Tax Revenue data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Tax Revenue: USD: Quarterly.

In the United Kingdom, tax revenue as a share of GDP, sometimes called the national tax burden was 35.3 percent in 2024/25, up from just 28.4 percent in 1993/94.

The Tax Preparation Software Developers industry's revenue is supported by the fact that tax returns are required to be submitted every year, making revenue less susceptible to any economic downturns. The HMRC's Making Tax Digital (MTD) policy has catalysed the industry's revenue growth by mandating transitions from paper-based to digital filing systems. The extension of MTD for VAT to all VAT-registered businesses by April 2022 expanded the market significantly, compelling developers like Intuit and Sage to integrate MTD functionalities into their platforms. This shift not only increased subscription revenue but also solidified market confidence in digital solutions as both individuals and businesses sought cost-effective, reliable alternatives to traditional accounting services. Industry revenue is expected to grow at a compound annual rate of 3.8% over the five years through 2024-25 to reach £200.1 million. The provision of online software has greatly boosted industry revenue, as it helps developers reach a wider audience and makes the sale of software cheaper and more convenient. Economic factors, like the cost-of-living crisis, have influenced consumer behaviour, with many turning to digital platforms for their tax preparation needs to save costs over the three years through 2024-25. Moreover, lower consumer and business confidence constrained spending, heightening demand for industry software, as some uncertain consumers and businesses prefer to file tax returns themselves using cheaper software instead of acquiring tax consultants' services. Revenue is set to climb by 5.1% in 2024-25, supported by strong uptake of online software and a higher number of UK businesses. The average industry profit margin is forecast to heighten over the five years through 2024-25, supported by the provision of software online, which has reduced costs and supported sales growth. Industry revenue is forecast to strengthen at a compound annual rate of 5.6% over the five years through 2029-30 to reach £262.9 million, with amended MTD requirements and the popularity of online software expected to boost demand. The government's commitment to digital tax administration, with MTD extensions for Income Tax Self Assessment set for 2026, promises to expand the market further. Developers that align with these legislative changes and innovate accordingly are poised to capitalise on new opportunities. The industry's progression towards cloud-based solutions, like Sage's successful integration of AI technologies, underscores the competitive edge that advanced digital solutions offer. However, the industry faces challenges, primarily a skilled workforce shortage. Developers must invest in upskilling and reskilling initiatives to maintain their competitive edge. Strategic measures, coupled with emerging technologies, will be vital for sustaining growth in the complex landscape tax preparation software developers navigate.

Portugal had the highest combined corporate income tax rate in 2023, reaching 31.5 percent, and was followed by Germany with a rate of 29.94 percent. On the other hand, Hungary had the lowest combined corporate income tax rate, reaching just nine percent in 2023.

The Tax Preparation Software Developers industry's revenue is supported by the fact that tax returns are required to be submitted every year, making revenue less susceptible to any economic downturns. The HMRC's Making Tax Digital (MTD) policy has catalysed the industry's revenue growth by mandating transitions from paper-based to digital filing systems. The extension of MTD for VAT to all VAT-registered businesses by April 2022 expanded the market significantly, compelling developers like Intuit and Sage to integrate MTD functionalities into their platforms. This shift not only increased subscription revenue but also solidified market confidence in digital solutions as both individuals and businesses sought cost-effective, reliable alternatives to traditional accounting services. Industry revenue is expected to grow at a compound annual rate of 3.8% over the five years through 2024-25 to reach £200.1 million. The provision of online software has greatly boosted industry revenue, as it helps developers reach a wider audience and makes the sale of software cheaper and more convenient. Economic factors, like the cost-of-living crisis, have influenced consumer behaviour, with many turning to digital platforms for their tax preparation needs to save costs over the three years through 2024-25. Moreover, lower consumer and business confidence constrained spending, heightening demand for industry software, as some uncertain consumers and businesses prefer to file tax returns themselves using cheaper software instead of acquiring tax consultants' services. Revenue is set to climb by 5.1% in 2024-25, supported by strong uptake of online software and a higher number of UK businesses. The average industry profit margin is forecast to heighten over the five years through 2024-25, supported by the provision of software online, which has reduced costs and supported sales growth. Industry revenue is forecast to strengthen at a compound annual rate of 5.6% over the five years through 2029-30 to reach £262.9 million, with amended MTD requirements and the popularity of online software expected to boost demand. The government's commitment to digital tax administration, with MTD extensions for Income Tax Self Assessment set for 2026, promises to expand the market further. Developers that align with these legislative changes and innovate accordingly are poised to capitalise on new opportunities. The industry's progression towards cloud-based solutions, like Sage's successful integration of AI technologies, underscores the competitive edge that advanced digital solutions offer. However, the industry faces challenges, primarily a skilled workforce shortage. Developers must invest in upskilling and reskilling initiatives to maintain their competitive edge. Strategic measures, coupled with emerging technologies, will be vital for sustaining growth in the complex landscape tax preparation software developers navigate.

A dataset of car tax calculations for company cars by operating cycle, manufacturer, model, and derivative.

The Social Security Rate in the United Kingdom stands at 23.80 percent. This dataset provides - United Kingdom Social Security Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.