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.

Key information about UK Tax revenue: % of GDP

• United Kingdom Tax revenue: % of GDP was reported at 27.3 % in Dec 2024.
• This records a decrease from the previous number of 28.4 % for Sep 2024.
• UK Tax revenue: % of GDP data is updated quarterly, averaging 25.7 % from Mar 1955 to Dec 2024, with 280 observations.
• The data reached an all-time high of 44.2 % in Mar 1955 and a record low of 19.9 % in Jun 1960.
• UK Tax revenue: % of GDP 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: % of Nominal GDP: Quarterly.

CEIC calculates quarterly Tax Revenue as % of Nominal GDP from quarterly Tax Revenue and quarterly Nominal GDP. Tax Revenue is calculated as the sum of Taxes on Income and Wealth, Taxes on Production, Other Current Taxes and Taxes on Capital. Office for National Statistics provides Tax Revenue in local currency and Nominal GDP in local currency.

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.

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.

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.

CEIC calculates quarterly Tax Revenue as the sum of Taxes on Income and Wealth, Taxes on Production, Other Current Taxes and Taxes on Capital and converts it into USD. Office for National Statistics provides Tax Revenue in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains: % of Revenue data was reported at 33.676 % in 2016. This records an increase from the previous number of 32.988 % for 2015. United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains: % of Revenue data is updated yearly, averaging 38.098 % from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 44.420 % in 1975 and a record low of 32.852 % in 2013. United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains: % of Revenue data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s UK – Table UK.World Bank: Government Revenue, Expenditure and Finance. Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; Median;

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.

Breakdown of general government expenditure (both current and capital) and revenue.

United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains: % of Total Taxes data was reported at 46.596 % in 2016. This records an increase from the previous number of 45.839 % for 2015. United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains: % of Total Taxes data is updated yearly, averaging 51.508 % from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 63.041 % in 1975 and a record low of 45.600 % in 2014. United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains: % of Total Taxes data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s UK – Table UK.World Bank: Government Revenue, Expenditure and Finance. Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; ;

United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains data was reported at 234,170.000 GBP mn in 2016. This records an increase from the previous number of 217,827.000 GBP mn for 2015. United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains data is updated yearly, averaging 85,031.000 GBP mn from Dec 1972 (Median) to 2016, with 45 observations. The data reached an all-time high of 234,170.000 GBP mn in 2016 and a record low of 8,388.000 GBP mn in 1972. United Kingdom UK: Revenue and Grants: Revenue: Taxes on Income: Profits and Capital Gains data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s UK – Table UK.World Bank: Government Revenue, Expenditure and Finance. Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files.; ;

The United Kingdom recorded a Government Debt to GDP of 95.90 percent of the country's Gross Domestic Product in 2024. This dataset provides - United Kingdom Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Data on the effects of taxes and benefits on household income publication from 2001, including average incomes, taxes and benefits and household characteristics of all, retired and non-retired individuals and households in the UK by quintile and decile groups.

U.K. GDP for 2023 was 3.381 trillion US dollars, a 8.57% increase from 2022.

<ul style='margin-top:20px;'>

<li>U.K. GDP for 2022 was <strong>3.114 trillion US dollars</strong>, a <strong>0.93% decline</strong> from 2021.</li>
<li>U.K. GDP for 2021 was <strong>3.143 trillion US dollars</strong>, a <strong>16.56% increase</strong> from 2020.</li>
<li>U.K. GDP for 2020 was <strong>2.697 trillion US dollars</strong>, a <strong>5.42% decline</strong> from 2019.</li>
</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.