Similarly, this trend is present in the amount of wealth generated from income tax receipts, with an overall growth despite some fluctuation in 2009/2010, most likely a consequence of financial turmoil resulting from the global economic crisis that year.
National insurance contribution receipts , stamp duty land tax receipts, inheritance tax receipts and VAT receipts, have also experienced a somewhat similar development, although the fall in revenue that occurred throughout 2008/2009 continued the following year. By 2015/2016, revenue collected from VAT amounted to approximately 115.4 million British pounds, this was forecast to reach a value of 146.7 billion British pounds by 2021/2022.
Recent alcohol duty tax receipts have experienced net growths in the amount of money generated from spirits, beer, wines and ciders. This collectively is expected to grow to an approximate value of 4.1 billion British pounds by the 2021/2022 financial year, succeeding a predicted year of stagnation in 2020/2021, according to forecasted beer/cider duty receipts. Furthermore, a resemblance of this trend is also visible in regards to current tobacco duty receipts. However, forecast annual tobacco duties are expected to reduce slightly by 2022, to 8.9 billion British pounds.
Contrarily, customs duty tax receipts 2015/2016 actually experienced a small decrease upon the previous year.
Air passenger duty receipts have shown dramatic growth in the amount of money gathered. The largest growth in one year occurred in 2007/2008, when revenue increased by over one billion British pounds upon the previous year. Since that time it has continued to grow, reaching over 3 billion British pounds in 2016. Additionally, the forecast air passenger duty is expected to reach 4 billion British pounds by 2021/2022.
A significant proportion of HMRC income is created from corporation tax receipts. In 2015/2016, onshore corporation tax peaked at approximately 43.9 billion British pounds. Meanwhile, offshore corporation tax generated 538 million British pounds, and this was the smallest annual amount obtained over this time period. The forecast corporation tax is expected to increase to 55.5 billion British pounds in 2018/2019.