VAT receipts in the UK 2000-2024
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.