In 2024/25 corporation tax receipts in the United Kingdom amounted to approximately 91.6 billion British pounds, compared with 80.3 billion in the previous year.

In 2024/25 the value of tax receipts for the United Kingdom amounted to approximately 840 billion British pounds. Tax receipts form the bulk of UK government income, based on various direct and indirect taxes. Although tax income has gradually increased throughout most of this period, there is a noticeable dip in 2020 due to the COVID-19 pandemic. Tax revenue sources Of the revenue generated by taxation in 2024/25, over 301 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 172.5 billion pounds of tax revenue. The UK's main goods and services tax; Value-added Tax (VAT) amounted to 170.6 billion pounds, while Corporation Tax receipts raised 91.6 billion pounds. Although other smaller direct and indirect taxes produce notable income, these four sources were by far the main sources of income in the previous financial year. UK government finances While taxes and other sources of income raised more than 1.13 trillion pounds in 2024/25, the UK government expenditure was around 1.28 trillion pounds. This gap between revenue and expenditure was financed via government borrowing, which amounted to almost 152 billion pounds. As the UK government has been spending more than it earns for several years, this has resulted in a significant government debt of 2.8 trillion pounds building up, the equivalent of just under 96 percent of GDP in 2024/25.

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.

PAYE and corporation tax receipts from the banking sector Pay-As-You-Earn (income tax and national insurance contributions). Previously listed under 'PAYE and corporation tax receipts from the banking sector'.

Source agency: HM Revenue and Customs

Designation: Official Statistics not designated as National Statistics

Language: English

Alternative title: PAYE and Corporate Tax Receipts from the Banking Sector

Public sector revenue for each country and region of the UK.

Provides general 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

In 2024/25 VAT tax receipts in the United Kingdom amounted to just over 170 billion British pounds, compared with 168 billion 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 just under 130 billion pounds in 2019/20 to around 102 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 also fell, from 3.6 billion pounds to just 590 million, elsewhere fuel duties fell from 27.6 billion to 20.9 billion. How UK taxes are spent For the 2025/26 financial year, the UK government is expected to spend 379 billion pounds on social protection, which includes spending on housing benefits and pensions. After social protection, health had the next largest budget, at 277 billion pounds, followed by education at 146 billion. As of this year, the government was paying 116 billion pounds on debt interest, while defence spending was 83 billion pounds.

In 2024/25 receipts from capital gains tax in the United Kingdom amounted to just over ***billion British pounds, compared with *****billion pounds in the previous year the previous year.

United Kingdom HMRC: Receipts: Inland Revenue Duties: Corporation Tax: ow Offshore data was reported at 479.000 GBP mn in Sep 2018. This records a decrease from the previous number of 570.037 GBP mn for Mar 2018. United Kingdom HMRC: Receipts: Inland Revenue Duties: Corporation Tax: ow Offshore data is updated monthly, averaging 1,267.500 GBP mn from Sep 2008 (Median) to Sep 2018, with 32 observations. The data reached an all-time high of 4,022.000 GBP mn in Sep 2008 and a record low of -34.000 GBP mn in Sep 2016. United Kingdom HMRC: Receipts: Inland Revenue Duties: Corporation Tax: ow Offshore 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: 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.

This statistic shows the predicted revenue from onshore corporation tax receipts in the United Kingdom (UK) from 2017 to 2024. The onshore corporation tax is forecasted to bring **** billion British pounds in 2018/19.

Provides receipts information for UK oil and gas production, covering all historical duties levied on companies participating in this ring fence regime, including ring fence Corporation Tax (RFCT), supplementary charge (SC), Petroleum Revenue Tax (PRT) and royalties. Previously listed under 'Revenue-based Taxes and Benefits: Corporate Tax'.

Source agency: HM Revenue and Customs

Designation: National Statistics

Language: English

Alternative title: Government Revenue from UK Oil and Gas Production

Provides general 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