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Tax receipts in the UK 2000-2020

In 2019/20 the value of HMRC tax receipts for the United Kingdom amounted to approximately 634.64 billion British pounds. This represented a net increase of 319 billion pounds when compared with 2000/01. Since that year, the total value of tax receipts showed year-on-year increases except in 2008/09 and 2009/10 when it the value declined.

Tax revenue sources
During 2017/18, of the 594.3 billion pounds collected by the taxman, over 181 billion of this came from income tax receipts. Tax collected from National insurance accounted for 130 billion pounds of tax revenue, while the United Kingdom’s goods and services tax; Value-added Tax (VAT) amounted to 12.5.3 billion pounds.

Government spending
For the fiscal year 2019/20, the UK government has budgeted 256 billion pounds for social protection, which includes spending on pensions and welfare. Health and education were the second and third largest spending categories, amounting to 166 billion and 103 billion pounds respectively.

Tax receipts in the United Kingdom from 2000/01 to 2019/20

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Source

Release date

October 2020

Region

United Kingdom

Survey time period

April 1, 2000, to March 31, 2020

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Statistics on "Tax in the United Kingdom (UK)"

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