In 2022/23 the value of tax receipts for the United Kingdom amounted to approximately 827.74 billion British pounds. This represented a net increase of over 512.1 billion pounds when compared with 2000/01. Since that year, the total value of tax receipts showed year-on-year increases in most years, except for 2008/09, 2009/10, and 2020/21 when the value declined. Tax receipts form the bulk of UK government income, based on various direct and indirect taxes. Tax revenue sources Of the revenue generation by taxation in 2023/24, over 273.27 billion of this came from Income Tax receipts, which was the main source of direct tax income for the government. After income tax, the next most substantial direct tax were contributions from National Insurance, which amounted to just over 177.74 billion pounds of tax revenue in 2023/24. The UK's main goods and services tax; Value-added Tax (VAT) amounted to 169 billion pounds, while Corporation Tax receipts added up to around 88 billion pounds. Although other smaller direct and indirect taxes produce notable income, these four sources were by far the main sources in the 2023/24 financial year. UK government finances While taxes and other sources of income raised more than one trillion pounds in 2023/24, the UK government expenditure was around 1.1 trillion pounds. This gap between revenue and expenditure was financed via government borrowing, which amounted to 107 billion pounds in 2023/24. As the UK government has been spending more than it earns for several years, this has resulted in significant government debt building up, expected to be the equivalent of 103.1 percent of GDP in 2023/24.

In 2023/24 VAT tax receipts in the United Kingdom amounted to 169.25 billion British pounds, compared with 159.75 in the previous financial year. Along with income tax and National Insurance contributions, VAT is one of the three-largest taxation sources for the UK government. Unlike income tax and national insurance, VAT is an indirect tax, and is raised via a 20 percent levy applied on most goods and services sold in the UK. Tax revenue during the pandemic VAT tax revenue took quite a significant hit during the COVID-19 pandemic, with receipts falling from 130 billion pounds in 2019/20 to 101.6 billion in 2020/21. The lockdowns enforced by the UK government clearly had an effect on consumer spending, but also impacted taxes associated with travel. Revenue from air passenger duties fell from 3.6 billion pounds to 585 million, while fuel duties fell from 27.6 billion to 20.9 billion. How UK taxes are spent For the 2023/24 financial year, the UK government is expected to spend 341 billion pounds on social protection, which includes spending on housing benefits and pensions. After social protection, health had the next largest budget, at 245 billion pounds, followed by education at 131 billion. As of this year, the government was paying 116 billion pounds on debt interest, while defence spending was 68 billion pounds.

A breakdown of UK public sector income by latest month, financial year-to-date and full financial year, with comparisons with the same period in the previous financial year.

Provides monthly and annual historical records on all HMRC Tax & NIC receipts, and Tax Credit payments. Previously listed under 'Revenue-based Taxes and Benefits: Tax receipts and taxpayers'.

Source agency: HM Revenue and Customs

Designation: National Statistics

Language: English

Alternative title: HM Revenue & Customs Receipts

United Kingdom HMRC: Receipts: Inland Revenue Duties data was reported at 15,600.021 GBP mn in Jun 2018. This records a decrease from the previous number of 16,757.976 GBP mn for May 2018. United Kingdom HMRC: Receipts: Inland Revenue Duties data is updated monthly, averaging 12,422.289 GBP mn from Apr 1989 (Median) to Jun 2018, with 351 observations. The data reached an all-time high of 43,266.874 GBP mn in Jan 2018 and a record low of 4,030.000 GBP mn in Aug 1992. United Kingdom HMRC: Receipts: Inland Revenue Duties data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s UK – Table UK.F013: HM Revenue and Customs Receipts.

United Kingdom HMRC: Receipts: Customs & Excise Duties: Swiss Capital Tax data was reported at 0.000 GBP mn in Oct 2018. This stayed constant from the previous number of 0.000 GBP mn for Sep 2018. United Kingdom HMRC: Receipts: Customs & Excise Duties: Swiss Capital Tax data is updated monthly, averaging 0.000 GBP mn from Apr 2008 (Median) to Oct 2018, with 127 observations. The data reached an all-time high of 342.185 GBP mn in Jan 2013 and a record low of -1.378 GBP mn in Mar 2017. United Kingdom HMRC: Receipts: Customs & Excise Duties: Swiss Capital Tax data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s United Kingdom – Table UK.F013: HM Revenue and Customs Receipts.

United Kingdom HMRC: Receipts: Customs & Excise Duties: Qtr data was reported at 50,888.136 GBP mn in Sep 2018. This records an increase from the previous number of 47,782.225 GBP mn for Jun 2018. United Kingdom HMRC: Receipts: Customs & Excise Duties: Qtr data is updated quarterly, averaging 19,349.000 GBP mn from Jun 1973 (Median) to Sep 2018, with 182 observations. The data reached an all-time high of 50,888.136 GBP mn in Sep 2018 and a record low of 1,005.000 GBP mn in Jun 1973. United Kingdom HMRC: Receipts: Customs & Excise Duties: Qtr data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s United Kingdom – Table UK.F013: HM Revenue and Customs Receipts.

This is a National Statistics publication produced by HM Revenue and Customs (HMRC) using receipts information from HMRC’s administrative systems. For more information on National Statistics and governance of statistics produced by public bodies please see the UK Statistics Authority website.

Tax receipts that are protected through HMRC activity, such as legislative action or guidance, that prevents non-compliance.

Tax revenue from customs duty receipts in the United Kingdom amounted to 4.8 billion British pounds in 2023/24, compared with 5.53 billion pounds in the previous year.

Provides monthly and quarterly information on all HMRC taxes, including tax receipts, the number of taxpayers, personal tax credits, child benefit and estimates of the cost of tax expenditures and structural relief.

Source agency: HM Revenue and Customs

Designation: National Statistics

Language: English

Alternative title: Revenue Based Taxes

United Kingdom HMRC: Receipts: Inland Revenue Duties: Income Tax: Inc Capital Gains data was reported at 12,400.258 GBP mn in Jun 2018. This records a decrease from the previous number of 13,017.946 GBP mn for May 2018. United Kingdom HMRC: Receipts: Inland Revenue Duties: Income Tax: Inc Capital Gains data is updated monthly, averaging 4,669.000 GBP mn from Sep 1966 (Median) to Jun 2018, with 622 observations. The data reached an all-time high of 32,269.491 GBP mn in Jan 2017 and a record low of 0.000 GBP mn in Sep 1981. United Kingdom HMRC: Receipts: Inland Revenue Duties: Income Tax: Inc Capital Gains data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s UK – Table UK.F013: HM Revenue and Customs Receipts.

United Kingdom HMRC: Receipts data was reported at 56,483.566 GBP mn in Oct 2018. This records an increase from the previous number of 40,709.730 GBP mn for Sep 2018. United Kingdom HMRC: Receipts data is updated monthly, averaging 39,500.780 GBP mn from Apr 2008 (Median) to Oct 2018, with 127 observations. The data reached an all-time high of 76,424.156 GBP mn in Jan 2018 and a record low of 26,219.438 GBP mn in Jun 2009. United Kingdom HMRC: Receipts data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s United Kingdom – Table UK.F013: HM Revenue and Customs Receipts.

United Kingdom HMRC: Receipts: Inland Revenue Duties: Net Receipts: Income Tax: Pay data was reported at 12,866.214 GBP mn in Oct 2018. This records an increase from the previous number of 12,317.646 GBP mn for Sep 2018. United Kingdom HMRC: Receipts: Inland Revenue Duties: Net Receipts: Income Tax: Pay data is updated monthly, averaging 11,290.889 GBP mn from Apr 2008 (Median) to Oct 2018, with 127 observations. The data reached an all-time high of 17,089.959 GBP mn in Apr 2018 and a record low of 9,578.057 GBP mn in Sep 2009. United Kingdom HMRC: Receipts: Inland Revenue Duties: Net Receipts: Income Tax: Pay data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s United Kingdom – Table UK.F013: HM Revenue and Customs Receipts.

United Kingdom HMRC: Receipts: National Insurance Contributions data was reported at 11,115.121 GBP mn in Oct 2018. This records an increase from the previous number of 10,598.301 GBP mn for Sep 2018. United Kingdom HMRC: Receipts: National Insurance Contributions data is updated monthly, averaging 8,911.785 GBP mn from Apr 2008 (Median) to Oct 2018, with 127 observations. The data reached an all-time high of 12,897.937 GBP mn in Jul 2018 and a record low of 6,135.277 GBP mn in Jun 2010. United Kingdom HMRC: Receipts: National Insurance Contributions data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s United Kingdom – Table UK.F013: HM Revenue and Customs Receipts.

United Kingdom HMRC: Receipts: Customs & Excise Duties: Tobacco data was reported at 705.317 GBP mn in Oct 2018. This records a decrease from the previous number of 920.867 GBP mn for Sep 2018. United Kingdom HMRC: Receipts: Customs & Excise Duties: Tobacco data is updated monthly, averaging 520.000 GBP mn from Apr 1977 (Median) to Oct 2018, with 499 observations. The data reached an all-time high of 4,458.000 GBP mn in Dec 1998 and a record low of -53.000 GBP mn in Jan 1978. United Kingdom HMRC: Receipts: Customs & Excise Duties: Tobacco data remains active status in CEIC and is reported by HM Revenue & Customs. The data is categorized under Global Database’s United Kingdom – Table UK.F013: HM Revenue and Customs Receipts.

In 2023/24 receipts from capital gains tax in the United Kingdom amounted to approximately 15.4 billion British pounds, compared with 16.93 billion pounds in the previous year the previous year.