VAT: United Kingdom HMRC tax receipts 2000-2019
In 2018/19 income tax receipts in the United Kingdom amounted to 132.2 billion British pounds, which when compared with 2000/01 was a net increase of 74.2 billion pounds. In the future, income tax receipts are expected to continue to rise.
Income tax brackets
The amount which workers in the United Kingdom pay in income tax is determined by how much they earn and falls into four income tax bands. All workers in the United Kingdom are entitled to earn a personal allowance of 12.5 thousand pounds before they are charged income tax. The Basic rate of 20 percent applies to income between 12.5 and 50 thousand pounds, with a higher rate of 40 percent charged on incomes that are between 50 and 150 thousand pounds. There is also an additional rate for earnings over 150 thousand pounds which has a tax rate of 45 percent.
UK Government spending
The government of the United Kingdom aims to spend approximately 256 billion on Social Protection on 2018/19, the most of any spending category. This was followed by spending on health, education and defense, at 166, 103, and 52 billion pounds respectively.
Income tax brackets
The amount which workers in the United Kingdom pay in income tax is determined by how much they earn and falls into four income tax bands. All workers in the United Kingdom are entitled to earn a personal allowance of 12.5 thousand pounds before they are charged income tax. The Basic rate of 20 percent applies to income between 12.5 and 50 thousand pounds, with a higher rate of 40 percent charged on incomes that are between 50 and 150 thousand pounds. There is also an additional rate for earnings over 150 thousand pounds which has a tax rate of 45 percent.
UK Government spending
The government of the United Kingdom aims to spend approximately 256 billion on Social Protection on 2018/19, the most of any spending category. This was followed by spending on health, education and defense, at 166, 103, and 52 billion pounds respectively.
